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Automobile Corporation of Goa Buyback 2019 Review

Rated 3/5 by Team InvestorGain

Incorporated in 1980, Automobile Corporation of Goa (ACGL) is full integrated engineering unit. The company was jointly promoted by Tata Motors Lts and EDC Ltd. The comany manutactures sheet metal components, assemblies and bus coaches. The company have 5 plants, 3 in Goa, 1 in Pune, MH and 1 in Dharwad, KA.

AUTOCORP Buyback 2019 Latest Update

July 25th, 2019:Automobile Corporation of Goa (BSE:505036 | NSE:AUTOCORP) board has approved a proposal for purchase of up to 3.33 lakh(Three lakhs and thirty three thousand) shares at Rs 600 (Rupees Six Hundred) per share, aggregating Rs 19.98 lakhs (Rupees Nineteen Crore Ninety Eight Lakhs) (Buyback Offer Size) that is 9.93% of total paid equity share capital.

What is Automobile Corporation of Goa Buyback details?

Below is the complete details about Automobile Corporation of Goa Buyback. Record date, buyback open and close dates are announce in below section.

Buyback Type: Tender Offer
Buyback Offer Amount: Rs 19.98 Cr
Buyback Number of Shares: 3.33 Lakhs
Buyback Price: Rs 600
Buyback Offer Size (In %): 9.93%
Total Share Capital: Rs 309.65 Cr
Face Value: 10 Per Equity Share

Can I Invest today to participate in Automobile Corporation of Goa buyback offer? No

Review & Recommendation

We advocate honest for AUTOCORP buyback as official acceptance ratio for the retail investors are going to be between 3 to 7% (Three to Seven percent) and actual acceptance ration is going to be Thn to Twenty percent (10% to 20%). We tend to rate AUTOCORP buyback as 3.0/5 (Fair).

Making a resonable amount of profit is possible in AUTOCORP buyback for a new retail investor. With referance to current market price buyback price is up by 23% (Approx).

Rating

  • Poor (<10% AR)
  • Fair (Bw 11 to 30% AR)
  • Average (Bw 30 to 60% AR)
  • Good (Bw 60 to 90% AR)
  • Excellent (>90% AR)

What are Automobile Corporation of Goa Buyback Important Dates?

In this section we have covered all important dates related to Automobile Corporation of Goa 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.

Automobile Corporation of Goa buyback offer important dates
Buyback Activity Date
Board Meeting for Buyback proposal 25th Jul 2019
Buyback Approval date 25th Jul 2019
Public Announcement of Buyback 25th Jul 2019
Record Date 20th Sep 2019
Buyback opens on/Buyback Opening Date 18th Oct 2019
Buyback closes on/Buyback Closing Date 4th Nov 2019
Cut-off date to receive completed tender forms by Registrar 6th Nov 2019
Cut-off date for verification by the Registrar 8th Nov 2019
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar
11th Nov 2019
Last date of settlement of bids on the stock exchange 13th Nov 2019
Last date to return unaccepted shares by Registrar 13th Nov 2019
Last date of extinguishment of Equity Shares 20th Nov 2019

Automobile Corporation of Goa Share Holding Pattern as of June 2019

Stock Holding table gives a clear picture on retail investor holdings of Automobile Corporation of Goa 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 53.50%
Non-Promoter-Institutions 0.09%
Non-Promoter-Non-Institutions 46.41%

Automobile Corporation of Goa Draft Letter of Offer >>Document

Automobile Corporation of Goa Letter of Offer >>Document

Automobile Corporation of Goa Post Buyback Public Announcement >>Document

Automobile Corporation of Goa Ratio of Buyback

    For Buy back shares holders are divided in 2 categories:
  • Reserved category for Small Shareholders ("Reserved Category") - Who holds Max Rs 2 Lakhs worth of shares @Rs 517.55 per equity share - in such case Max 386 Equity Shares as of Record Date 20th Sep 2019.
  • General category for all Shareholders other than Small Shareholders ("General Category")

Automobile Corporation of Goa Ratio of Buy Back

Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
Reserved Category 9 Equity Share out of every 80 fully paid-up Equity Share held on the Record Date. 11.15
General Category 9 Equity Share out of every 80fully paid-up Equity Share held on the Record Date. 11.15

Post buyback comments Automobile Corporation of Goa

For Automobile Corporation of Goa Buyback Offer, Report updated by the manager of buyback -

In general category - response received 588.04%, No. of Equity Shares reserved in Buyback was 252937 where valid bid received for retail category was 1487359 which is 588.04% oversubscribed.

In Reserved category for Small Shareholders (Retail) - response received only 74.43%, No. of Equity Shares reserved in Buyback was 80063 where valid bid received for retail category was 59592 which is 74.43%. Final Acceptance Ratio for Retail Investors was 100%.

Current and Upcoming Buybacks Key dates

The table below will give you a complete dashboard view for all open buyback offer in current market.

Current and Upcoming Buybacks Key dates
Company NameBuyback TypeOffer AmountBuyback PriceCMPRecord DateBuyback Open DateBuyback End Date
Tanla Platforms LtdTender OfferRs 170 Cr1200844.55 (-1.33%)25-10-2022TBDTBD
Garware Technical Fibres LtdTender OfferRs 90 Cr37504-11-2022TBDTBD
Orbit Exports LimitedTender OfferRs 10 Cr245151.90 (-0.07%)18-11-2022TBDTBD
KRBL LimitedTender Offer₹325.00Cr500289.75 (0.77%)25-08-2023TBDTBD
Shervani Industrial Syndicate LimitedTender Offer₹6.83Cr510543.60 (1.91%)07-03-202414-03-202420-03-2024
Dwarikesh Sugar Industries LimitedTender Offer₹31.50Cr10580.37 (0.19%)20-03-2024TBDTBD
Garware Technical Fibres LimitedTender Offer₹199.50Cr38003201.80 (-1.15%)26-03-2024TBDTBD

Detail Article on Benefit from buyback offer >> Read

Automobile Corporation of Goa 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 Automobile Corporation of Goa? How can I apply in Automobile Corporation of Goa Buyback offer?

Company Contact Information

Automobile Corporation of Goa
Honda
Sattari
Goa
403530
Website: http://www.acglgoa.com

Registrar Contact Information

TSR Darashaw Consultants Pvt. Ltd.
No. 6-10,
Haji Moosa Patrawala Ind. Estate,
20, Dr. E. Moses Road,
Mumbai - 400011
Maharashtra
Website: http://www.tsrdarashaw.com

Last Updated on 2019-11-20T22:16:39+00:00

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