Oct 16, 2018: Cochin Shipyard Ltd (BSE:540678 | NSE:COCHINSHIP) board has approved a proposal for buyback of up to 46.95 lakhs shares at Rs 455 per share, aggregating Rs 200 cr which is 3.23% of total number of paid-up equity shares capital.Record date for buyback is also announced as 31 Oct 2018.
We assume buyback acceptance ratio below 20%, so avoide for buyback gain./
»» Total Share Capital: 5336.17
»» Face Value: 10 Per Equity Share
»» Buyback Offer Amount: Rs 200 Cr
»» Buyback Offer Size (In %): 3.23%
»» Buyback Number of Shares: 43.95 Lakhs
»» Buyback Price: Rs 455
»» Promoters and Promoter Group participation:Yes
»» Buyback type:Tender Offer
»» Can I Invest today to participate in Cochin Shipyard Ltd buyback offer :No
In this section we have covered all imporatant dates related to Cochin Shipyard 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.
|Board Meeting for Buyback proposal||16th Oct 2018|
|Buyback Approval date||16th Oct 2018|
|Public Announcement of Buyback||16th Oct 2018|
|Record Date||31st Oct 2018|
|Buyback opens on/Buyback Opening Date||28th Nov 2018|
|Buyback closes on/Buyback Closing Date||11th Dec 2018|
|Cut-off date to receive completed tender forms by Registrar||13th Dec 2018|
|Cut-off date for verification by the Registrar||17th Dec 2018|
|Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar||20th Dec 2018|
|Last date of settlement of bids on the stock exchange||20th Dec 2018|
|Last date to return unaccepted shares by Registrar||20th Dec 2018|
|Last date of extinguishment of Equity Shares||27th Dec 2018|
Stock Holding table will give you a clear picture, how many retail investor holding Cochin Shipyard Ltd 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 %|
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||7 Equity Shares out of every 96 fully paid-up Equity Shares held on the Record Date.||7.29%|
|General Category||1 Equity Share out of every 34 fully paid-up Equity Share held on the Record Date.||2.94%|
For Cochin Shipyard Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 494.53%, No. of Equity Shares reserved in Buyback was 3736268 where valid bid received for retail category was 18476817 which is 494.53% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 276.01%, No. of Equity Shares reserved in Buyback was 659342 where valid bid received for retail category was 1819860 which is 276.01%. Final Acceptance Ratio for Retail Investors was 7.29%.
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|
|KPR Mill||Tender Offer||Rs 263.3 Cr||702||19-06-2017||TBD||TBD||Wipro Ltd||Tender Offer||Rs 10500 Cr||325||21-06-2019||14-08-2019||28-08-2019||Adani Ports and Special Economic Zone Ltd||Tender Offer||Rs 1960 Cr||500||21-06-2019||TBD||TBD||Sasken Technologies Ltd||Tender Offer||Rs 169.88 Cr||850||05-07-2019||TBD||TBD||Welspun Corp Limited||Tender Offer||Rs 360 Cr||140||05-07-2019||TBD||TBD||Greaves Cotton Ltd||Tender Offer||Rs 240 Cr||175||12-07-2019||TBD||TBD||Eris Lifesciences Limited||Tender Offer||Rs 100 Cr||575||15-07-2019||TBD||TBD||BSE limited||Tender Offer||Rs 460 Cr||680||29-07-2019||TBD||TBD||Smartlink Holdings Ltd||Tender Offer||Rs 47.45 Cr||130||13-08-2019||TBD||TBD||Gandhi Special Tubes Ltd||Tender Offer||Rs 49.50 Cr||550||16-08-2019||TBD||TBD||Automobile Corporation of Goa||Tender Offer||Rs 19.98 Cr||600||TBD||TBD||TBD||NIIT Ltd||Tender Offer||Rs 335 Cr||125||TBD||TBD||TBD|
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Detail Article on Benefit from buyback offer >> ReadCochin Shipyard 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 Cochin Shipyard Ltd? How can I apply in Cochin Shipyard Ltd Buyback offer?
The Record Date for Cochin Shipyard Ltd Buyback offer - 31st Oct 2018
To participate in Cochin Shipyard Ltd buyback offer, record date is 31st Oct 2018. Which means you should hold the Cochin Shipyard Ltd share in your demat account by closing session of 31st Oct 2018. Share purchased on and before (31st Oct 2018) - 2 business days will be available in your demat account by 31st Oct 2018.
Its all depend on acceptance ratio which usually announce with Letter of Offer. Let's assume if you have Cochin Shipyard Ltd shares at Rs 387 and buyback offer price is Rs 455, you can get Rs 68 per accepted share. If you hold 517 shares of Cochin Shipyard Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 171 to 258 shares with the gain from buyback of Rs 11628 to Rs 17544.
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 Cochin Shipyard Ltd 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 Cochin Shipyard Ltd: 28th Nov 2018
Buyback closing date for Cochin Shipyard Ltd: 11th Dec 2018
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 13th Dec 2018.
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 20th Dec 2018.
Money will be directly deposited in your registered bank account with broker. Usually money will be deposited on and after 20th Dec 2018, which is last date of settlement of bids on the Stock Exchange.
In case of physical share holding, you will get a cheque.
Rejected shares will be available in your demat account for trading in open market by 20th Dec 2018.
Use our unique Buyback Calculator, to calculate your final profit with leftout shares on current market price.
Last Updated on 2018-12-27T04:20:45+00:00