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Aug 20, 2018: Navneet Education Ltd (BSE:508989 | NSE:Navneet Education Limited) board has approved a proposal for buyback of up to 46.87 Lakhs shares at Rs 160 per share, aggregating Rs 75 Cr which is 2.01% of total paid-up equity shares capital.
Below is the complete details about Navneet Education Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 75 Cr |
| Buyback Number of Shares: | 46.87 lakhs |
| Buyback Price: | Rs 160 |
| Buyback Offer Size (In %): | 2.01% |
| Total Share Capital: | Rs 2976.70 Cr |
| Face Value: | 2 Per Equity Share |
Can I Invest today to participate in Navneet Education Ltd buyback offer? No
We expect proposed acceptance ratio will be between 7 to 12% and actual acceptance ratio will be between 25 to 35%.
In this section we have covered all important dates related to Navneet Education Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 20th Aug 2018 |
| Buyback Approval date | 20th Aug 2018 |
| Public Announcement of Buyback | 20th Aug 2018 |
| Record Date | 31st Aug 2018 |
| Buyback opens on/Buyback Opening Date | 24th Sep 2018 |
| Buyback closes on/Buyback Closing Date | 8th Oct 2018 |
| Cut-off date to receive completed tender forms by Registrar | 10th Oct 2018 |
| Cut-off date for verification by the Registrar | 15th Oct 2018 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
15th Oct 2018 |
| Last date of settlement of bids on the stock exchange | 15th Oct 2018 |
| Last date to return unaccepted shares by Registrar | 17th Oct 2018 |
| Last date of extinguishment of Equity Shares | 24th Oct 2018 |
Stock Holding table gives a clear picture on retail investor holdings of Navneet Education Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 61.78% |
| Non-Promoter-Institutions | 22.93% |
| Non-Promoter-Non-Institutions | 12.26% |
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 83 Equity Share out of every 851 fully paid-up Equity Share held on the Record Date. | 9.75% |
| General Category | 5 Equity Share out of every 284 fully paid-up Equity Share held on the Record Date. | 1.75% |
For Navneet Education Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 3487.11%, No. of Equity Shares reserved in Buyback was 39,84,375 where valid bid received for retail category was 13,89,39,642 which is 3487.11% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 364.44%, No. of Equity Shares reserved in Buyback was 7,03,125 where valid bid received for retail category was 25,62,477 which is 364.44%. Final Acceptance Ratio for Retail Investors was 28%.
Out of 25,62,477 shares buyback entitlement of Valid bids was only 2,81,661 equity shares, so 4,21,464 additional equity shares accepted in the proportion of the additional Equity shared tendered. The original declared acceptance ratio was 9.75% and actual acceptance ration was approx 28%, with this retail investor acceptance went up by approx 18 percent from proposed buyback ratio.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 985.20 (6.44%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 169.05 (2.45%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 296.25 (-0.60%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 462.10 (0.35%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Navneet Education Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Navneet Education Ltd? How can I apply in Navneet Education Ltd Buyback offer?Last Updated on 2018-10-25T03:15:00+00:00
