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Incorporated in 1994, Glance Finance Limited (GLANCE) is a Non-Banking Finance Company. The company is primarily engaged in providing advisory & consultancy services and funded activities. The Company is involved in trading of securities, commodities, financing, financial and accounting consultancy services.
Feb 13th, 2019: Glance Finance Ltd (BSE:531199 | NSE:) board has approved a proposal for buyback of up to 7.50 lakh shares at Rs 50 per share, aggregating Rs 3.75 Cr (Buyback Offer Size) which is 24.95% of total paid-up equity share capital.
Below is the complete details about Glance Finance ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 3.75 Cr |
| Buyback Number of Shares: | 7.50 lakhs |
| Buyback Price: | Rs 50 |
| Buyback Offer Size (In %): | 24.95% |
| Total Share Capital: | Rs 14.43 Cr |
| Face Value: | 10 Per Equity Share |
Can I Invest today to participate in Glance Finance ltd buyback offer? No
We recommend going for Glance Finance Buyback as acceptance ratio for the retail investor will be between 20 to 30%. We rated Glance Finance Buyback as 3/5 (Fair), as profit will be very low as the difference in current market price and buyback price is not too much. Making a huge profit is not possible in Glance Finance Buyback for a new investor, an existing investor can exit in buyback and book profit.
Poor (<10% AR),Fair (Bw 11 to 30% AR), Average (Bw 30 to 60% AR, Good (Bw 60 to 90% AR),Excellent (>90% AR)
In this section we have covered all important dates related to Glance Finance 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.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 13th Feb 2019 |
| Buyback Approval date | 8th Apr 2019 |
| Public Announcement of Buyback | 9th Apr 2019 |
| Record Date | 26th Apr 2019 |
| Buyback opens on/Buyback Opening Date | 10th Jun 2019 |
| Buyback closes on/Buyback Closing Date | 21st Jun 2019 |
| Cut-off date to receive completed tender forms by Registrar | 24th Jun 2019 |
| Cut-off date for verification by the Registrar | 1st Jul 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
1st Jul 2019 |
| Last date of settlement of bids on the stock exchange | 2nd Jul 2019 |
| Last date to return unaccepted shares by Registrar | 2nd Jul 2019 |
| Last date of extinguishment of Equity Shares | 9th Jul 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Glance Finance 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 | 74.83% |
| Non-Promoter-Institutions | 1.13% |
| Non-Promoter-Non-Institutions | 24.05% |
Glance Finance ltd Draft Letter of Offer >>Document
Glance Finance ltd Letter of Offer >>Document
Glance Finance ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 4 Equity Share out of every 13 fully paid-up Equity Share held on the Record Date. | 24.15 |
| General Category | 233 Equity Share out of every 965 fully paid-up Equity Share held on the Record Date. | 3.07% |
For Glance Finance ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 211.00%, No. of Equity Shares reserved in Buyback was 637500 where valid bid received for retail category was 1345149 which is 211.00% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 103.03%, No. of Equity Shares reserved in Buyback was 112500 where valid bid received for retail category was 115908 which is 103.03%. 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 | 933.35 (0.18%) | 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 | 162.50 (-1.34%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 289.85 (-0.38%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 464.70 (1.10%) | 22-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
Glance Finance 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 Glance Finance ltd? How can I apply in Glance Finance ltd Buyback offer?Last Updated on 2019-11-20T22:21:24+00:00
