Coral India Finance And Housing Ltd Buyback 2020 Review

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Incorporated in 1995. Coral India Finance and Housing Ltd, a subsidiary of Coral Group is a housing development company in India. The business has 2 key segments including finance and construction. The primary objective of the company is to provide all kind of financial services i.e. providing funds, bill discounting, financial consultancy, investment advice, project counselling etc. and construction work i.e. land and property development, real estate development etc.

The key business activities of the company includes financing, construction, development and property maintenance services. The company is engaged in various construction and development projects including but not restricted to commercial complexes, residential buildings, and others. The firm has a team of specialists who are expert in their respective field such as designing, engineering, structural work, landscaping etc. Currently, there are many ongoing projects such as Coral Gardens, Coral Heights etc.

As on 31st March 2019, the company’s total revenues and profit were reported at Rs. 145,468,158 and Rs. 82,181,808 respectively.

Coral India Finance And Housing Ltd Buyback 2020 Latest Update

Feb 14th, 2020:Coral India Finance And Housing Ltd (BSE:531556 | NSE:CORALFINAC ) board has approved a proposal for purchase of up to 1.24 Cr shares at Rs 17 per share, aggregating Rs 21.08 Cr (Buyback Offer Size) that is 24.86% of total paid equity share capital.

What is Coral India Finance And Housing Ltd Buyback details?

Below is the complete details about Coral India Finance And Housing Ltd Buyback. Record date, buyback open and close dates are announce in below section.

    Buyback Type: Tender Offer
    Buyback Offer Amount: Rs 21.08 Cr
    Buyback Number of Shares: 1.24 Cr
    Buyback Price: Rs 17
    Buyback Offer Size (In %): 24.86%
    Total Share Capital: Rs 69.1 Cr
    Face Value: 2 Per Equity Share

Can I Invest today to participate in Coral India Finance And Housing Ltd buyback offer? No

Review & Recommendation

We advocate honest for Coral India Finance And Housing Ltd buyback as official acceptance ratio for the retail investors are going to be between 15 to 20% (Fifteen to Twenty percent) and actual acceptance ration is going to be same as actual. We tend to rate Coral India Finance And Housing Ltd buyback as 2.5/5 (fair).

Making a resonable amount of profit is not possible in Coral India Finance And Housing Ltd buyback for a new retail investor. With referance to current market price buyback price is up by 20% (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 Coral India Finance And Housing Ltd Buyback Important Dates?

In this section we have covered all important dates related to Coral India Finance And Housing 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.

    Coral India Finance And Housing Ltd buyback offer important dates
    Buyback Activity Date
    Board Meeting for Buyback proposal 14th Feb 2020
    Buyback Approval date 14th Feb 2020
    Public Announcement of Buyback 14th Feb 2020
    Record Date 17th Apr 2020
    Buyback opens on/Buyback Opening Date 1st Jun 2020
    Buyback closes on/Buyback Closing Date 12th Jun 2020
    Cut-off date to receive completed tender forms by Registrar 16th Jun 2020
    Cut-off date for verification by the Registrar 22nd Jun 2020
    Cut-off date to inform Stock Exchange on acceptance or non-acceptance
    of tendered Equity Shares by Registrar
    22nd Jun 2020
    Last date of settlement of bids on the stock exchange 23rd Jun 2020
    Last date to return unaccepted shares by Registrar 23rd Jun 2020
    Last date of extinguishment of Equity Shares 30th Jun 2020

Coral India Finance And Housing Ltd Share Holding Pattern as of Dec 2019

Stock Holding table gives a clear picture on retail investor holdings of Coral India Finance And Housing 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 74.37%
    Non-Promoter-Institutions 1.47%
    Non-Promoter-Non-Institutions 24.16%

Coral India Finance And Housing Ltd Public Announcement >>Document

Coral India Finance And Housing Ltd Draft Letter of Offer >>Document

Coral India Finance And Housing Ltd Letter of Offer >>Document

Coral India Finance And Housing Ltd Post Buyback Public Announcement >>Document

Coral India Finance And Housing Ltd 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 13.70 per equity share - in such case Max 14598 Equity Shares as of Record Date 17th Apr 2020.
    • General category for all Shareholders other than Small Shareholders ("General Category")

    Coral India Finance And Housing Ltd Ratio of Buy Back

    Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
    Reserved Category 3 Equity Shares out of every 10 Equity Shares held on the Record Date 29.92
    General Category 7 Equity Shares out of every 29 Equity Shares held on the Record Date 24.14

Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.

Post buyback comments Coral India Finance And Housing Ltd

    For Coral India Finance And Housing Ltd Buyback Offer, Report updated by the manager of buyback -

    In general category - response received 81.72%, No. of Equity Shares reserved in Buyback was 1,05,40,000 where valid bid received for retail category was 86,13,415 which is 81.72% oversubscribed.

    In Reserved category for Small Shareholders (Retail) - response received only 51.79%, No. of Equity Shares reserved in Buyback was 18,60,000 where valid bid received for retail category was 9,63,360 which is 51.79%. Final Acceptance Ratio for Retail Investors was 100%.

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Detail Article on Benefit from buyback offer >> Read

Coral India Finance And Housing 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 Coral India Finance And Housing Ltd? How can I apply in Coral India Finance And Housing Ltd Buyback offer?

Company Contact Information

Coral India Finance And Housing Ltd
Dalamal House, 4th Floor,
Nariman Point,
Mumbai - 400021

Registrar Contact Information

Request call back from

Last Updated on 2020-07-10T23:33:57+00:00


Buyback FAQs

  1. 1. What is the record date for Coral India Finance And Housing Ltd buyback offer?

    The Record Date for Coral India Finance And Housing Ltd Buyback offer is 17th Apr 2020

    Which means you should hold the Coral India Finance And Housing Ltd share in your demat account by closing session of 17th Apr 2020. Share purchased on and before (17th Apr 2020) - 2 business days will be available in your demat account by 17th Apr 2020.

     

     

  2. 2. How much I can make with Coral India Finance And Housing Ltd buyback offer?

    Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Coral India Finance And Housing Ltd shares at ₹13.75 and buyback offer price is ₹17, you can get ₹3.25 per accepted share. If you hold 14545 shares of Coral India Finance And Housing Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 4800 to 7272 shares with the gain from buyback of ₹15600 to ₹23634.

    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.

    Coral India Finance And Housing Ltd Buyback Profit Calculation

    % Share AcceptedNo of Shared AcceptedGain from Buyback Offer
    33%4800₹15600
    50%7272₹23634
    75%10909₹35454
    100%14545₹47271

     

     

  3. 3. How to Participate in Coral India Finance And Housing Ltd buyback offer?

    Steps to participate in Coral India Finance And Housing Ltd buyback:

    1. On Record date (17th Apr 2020) you must have share of Coral India Finance And Housing Ltd in your demat account/physical form. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
    2. After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
    3. Next step is with registrar - depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.

     

     

  4. 4. How many Coral India Finance And Housing Ltd share are eligible for 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.

     

     

  5. 5. When I need to tender Coral India Finance And Housing Ltd share for buyback?

    Buyback opening date for Coral India Finance And Housing Ltd: 1st Jun 2020

    Buyback closing date for Coral India Finance And Housing Ltd: 12th Jun 2020

    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 16th Jun 2020.

     

     

  6. 6. When I will know how much shares accepted in Coral India Finance And Housing Ltd buyback offer?

    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 23rd Jun 2020.

     

     

  7. 7. How and when will I get money for accepted shares of Coral India Finance And Housing Ltd buyback?

    Money will be directly deposited in your registered bank account with broker. Usually money will be deposited on and after 23rd Jun 2020, which is last date of settlement of bids on the Stock Exchange.

    In case of physical share holding, you will get a cheque.

     

     


User Comments

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  2020-02-24T08:41:39+00:00






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