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Incorporated in 1995, Frontline Securities is engaged in providing customized investment solutions. The company is listed on BSE and part of Frontline Group. The corporate offer service in investment planning and its execution. The company is focused on mutual funds distribution, Wealth Management, Corporate Advisory, Tax Planning and Life Insurance.
March 26, 2019: Frontline Securities (BSE:533213) board has approved a proposal for purchase of up to 18.90 lakh (Eighteen Lakhs and Ninety Thousand) shares at Rs 40 (Rupees forty) per share, aggregating Rs 7.56 Cr (Rupees Seven crore and fifty six lakhs) (Buyback Offer Size) that is 24.99% of total paid equity share capital.
The company performed its last buyback in 2017. The size was Rs 9.72 Cr, similar to current buyback. Buyback price was Rs 62 per share. The final closing price on record date was Rs 60. 50% Acceptance Ratio was declared for a retail customer and there was not enough bid so final acceptance ratio was 100%.
Below is the complete details about Frontline Securities Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 7.56 Cr |
| Buyback Number of Shares: | 18.90 Lakh |
| Buyback Price: | Rs 40 |
| Buyback Offer Size (In %): | 24.99% |
| Total Share Capital: | Rs 44.46 Cr |
| Face Value: | 5 Per Equity Share |
Can I Invest today to participate in Frontline Securities buyback offer? No
We advocate honest for Frontline Securities buyback as acceptance ratio for the retail investors are going to be between sixty to eighty percent (60-70%). We tend to rate Frontline Securities buyback as 4.0/5 (Good). New investors can make 3% (Buy price aprrox 38 with 60% AR) to 5% (Buy Price approx 38 with 100% AR) profit in current buyback in 2 to 3 months window. An existing investor can wait for long term.
In this section we have covered all important dates related to Frontline Securities 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 | 26th Mar 2019 |
| Buyback Approval date | 9th May 2019 |
| Public Announcement of Buyback | 10th May 2019 |
| Record Date | 24th May 2019 |
| Buyback opens on/Buyback Opening Date | 17th Jun 2019 |
| Buyback closes on/Buyback Closing Date | 28th Jul 2019 |
| Cut-off date to receive completed tender forms by Registrar | 1st Jul 2019 |
| Cut-off date for verification by the Registrar | 3rd Jul 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
4th Jul 2019 |
| Last date of settlement of bids on the stock exchange | 5th Jul 2019 |
| Last date to return unaccepted shares by Registrar | 5th Jul 2019 |
| Last date of extinguishment of Equity Shares | 12th Jul 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Frontline Securities 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 | 0.55% |
| Promoter-Indian | 72.45% |
| Non-Promoter-Institutions | 0.0% |
| Non-Promoter-Non-Institutions | 26.99% |
Frontline Securities Public Announcement >>Document
Frontline Securities Draft Letter of Offer >>Document
Frontline Securities Letter of Offer >>Document
Frontline Securities Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 263 Equity Share out of every 654 fully paid-up Equity Share held on the Record Date. | 40.21 |
| General Category | 17 Equity Share out of every 118 fully paid-up Equity Share held on the Record Date. | 14.41 |
Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.
The proposed acceptance ratio for the retail category is 40.21% where actual acceptance ratio can go between 60 to 90%.
For Frontline Securities Buyback Offer, Report updated by the manager of buyback -
In general category - response received 112.59%, No. of Equity Shares reserved in Buyback was 1606522 where valid bid received for retail category was 1808840 which is 112.59% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 100%, No. of Equity Shares reserved in Buyback was 283505 where valid bid received for retail category was 76311 which is 100%. 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 |
|---|---|---|---|---|---|---|---|
| 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 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
Frontline Securities 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 Frontline Securities? How can I apply in Frontline Securities Buyback offer?Last Updated on 2019-08-26T22:50:48+00:00
