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.
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.
»» Total Share Capital: Rs 309.65 Cr
»» Face Value: 10 Per Equity Share
»» Buyback Offer Amount: Rs 19.98 Cr
»» Buyback Offer Size (In %): 9.93%
»» Buyback Number of Shares: 3.33 Lakhs
»» Buyback Price: Rs 600
»» Promoters and Promoter Group participation:Yes
»» Buyback type:Tender Offer
»» Can I Invest today to participate in Automobile Corporation of Goa buyback offer :No
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).
In this section we have covered all imporatant 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.
|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|
Stock Holding table will give you a clear picture, how many retail investor holding Automobile Corporation of Goa shares, with this you can plan for participate in buyback offer. The less number of retail holding make more chance to get higher acceptance ratio in buyback under ratail category = higher profit.
|Holding Type||In %|
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
For Buy back shares holders are divided in 2 categories:
|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|
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%.
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|
|Thomas Cook India Ltd||Tender Offer||Rs 150 Cr||57.50||31.10 (4.71%)||07-03-2020||TBD||TBD||NIIT Technologies||Tender Offer||Rs 337 Cr||1725||1457.30 (0.46%)||12-03-2020||29-05-2020||11-06-2020||Tips Industries Limited||Tender Offer||Rs 18.90 Cr||140||103.15 (-0.43%)||03-04-2020||TBD||TBD||Coral India Finance And Housing Ltd||Tender Offer||Rs 21.08 Cr||17||14.01 (-2.16%)||17-04-2020||TBD||TBD||Indiabulls Real Estate Limited||Tender Offer||Rs 500 Cr||100||44.30 (1.14%)||TBD||TBD||TBD||Granules India Ltd||Tender Offer||Rs 250 Cr||200||181.25 (5.78%)||TBD||TBD||TBD|
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Detail Article on Benefit from buyback offer >> ReadAutomobile 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?
Last Updated on 2019-11-20T22:16:39+00:00
The Record Date for Automobile Corporation of Goa Buyback offer is 20th Sep 2019
Which means you should hold the Automobile Corporation of Goa share in your demat account by closing session of 20th Sep 2019. Share purchased on and before (20th Sep 2019) - 2 business days will be available in your demat account by 20th Sep 2019.
Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Automobile Corporation of Goa shares at ₹485 and buyback offer price is ₹600, you can get ₹115 per accepted share. If you hold 412 shares of Automobile Corporation of Goa and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 136 to 206 shares with the gain from buyback of ₹15640 to ₹23690.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that company buys all of your shares.
|% Share Accepted||No of Shared Accepted||Gain from Buyback Offer|
Steps to participate in Automobile Corporation of Goa buyback:
Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.
Buyback opening date for Automobile Corporation of Goa: 18th Oct 2019
Buyback closing date for Automobile Corporation of Goa: 4th Nov 2019
This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by 6th Nov 2019.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before 13th Nov 2019.
Money will be directly deposited in your registered bank account with broker. Usually money will be deposited on and after 13th Nov 2019, which is last date of settlement of bids on the Stock Exchange.
In case of physical share holding, you will get a cheque.