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Incorporated in 1959, Greaves Cotton Ltd is a diversified engineering company that's a number one manufacturer and merchandiser of diesel engines, fuel engines, generator sets, pump sets, and construction instrumentation. The corporate is founded by James Greaves and St. George Cotton. Since then, the corporate entered into varied tie-ups and joint-ventures with Indian and international corporations to provide ceiling fans, diesel engines, industrial and marine gearboxes, carbide crucibles, vibrating compactors, concreting instrumentation, transit mixer and batching plant, lightweight engines, 3-wheeler petrol/CNG/BSVl compliant engine, etc.
This is the second buyback of Greaves Cotton, the last buyback was performed in 2004. The corporate has split his share in 2010, within the ration of one to five and therefore the current face price is Rs 2. After that, there was no major event happened for the Investors.
May 2nd, 2019:Greaves Cotton Ltd (BSE:501455 | NSE:GREAVESCOT) board has approved a proposal for purchase of up to 1.37 Cr(one hundred and thirty seven crore) shares at Rs 175 (one hundred seventy five) per share, aggregating Rs 240 Cr(two hundred and forty crore) (Buyback Offer Size) that is 5.6% of total paid equity share capital.
Below is the complete details about Greaves Cotton Ltd Buyback. Record date, buyback open and close dates are announce in below section.
Buyback Type: | Tender Offer |
Buyback Offer Amount: | Rs 240 Cr |
Buyback Number of Shares: | 1.37 Cr |
Buyback Price: | Rs 175 |
Buyback Offer Size (In %): | 5.6% |
Total Share Capital: | Rs 3624.03 Cr |
Face Value: | 2 Per Equity Share |
Can I Invest today to participate in Greaves Cotton Ltd buyback offer? No
We advocate honest for Greaves Cotton buyback as acceptance ratio for the retail investors are going to be between ten to thirty percent (10-30%). We tend to rate Greaves Cotton buyback as 3/5 (Fair). Allow us to make a case for you why we predict this buyback isn't sensible for new retail investors -
Making a large profit isn't doable in Greaves Cotton purchase for a brand new capitalist, AN existing capitalist will exit in purchase 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 Greaves Cotton 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 | 2nd May 2019 |
Buyback Approval date | 2nd May 2019 |
Public Announcement of Buyback | 2nd May 2019 |
Record Date | 12th Jul 2019 |
Buyback opens on/Buyback Opening Date | 18th Oct 2019 |
Buyback closes on/Buyback Closing Date | 1st Nov 2019 |
Cut-off date to receive completed tender forms by Registrar | 4th Nov 2019 |
Cut-off date for verification by the Registrar | 11th 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 gives a clear picture on retail investor holdings of Greaves Cotton 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 | 51.09% |
Non-Promoter-Institutions | 29.64 |
Non-Promoter-Non-Institutions | 18.46 |
Greaves Cotton Ltd Letter of Offer >>Document
Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
---|---|---|
Reserved Category | 5 Equity Share out of every 41 fully paid-up Equity Share held on the Record Date. | 12.20 |
General Category | 26 Equity Share out of every 537 fully paid-up Equity Share held on the Record Date. | 4.84% |
For Greaves Cotton Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 319.97%, No. of Equity Shares reserved in Buyback was 11050000 where valid bid received for retail category was 35356460 which is 319.97% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 260.11%, No. of Equity Shares reserved in Buyback was 1950000 where valid bid received for retail category was 5072203 which is 260.11%. Final Acceptance Ratio for Retail Investors was 12.20%.
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 | 819.00 (0.44%) | 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 | 140.55 (0.14%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 277.50 (-1.65%) | 25-08-2023 | TBD | TBD | Dwarikesh Sugar Industries Limited | Tender Offer | ₹31.50Cr | 105 | 69.50 (-5.61%) | 20-03-2024 | 27-03-2024 | 03-04-2024 | Garware Technical Fibres Limited | Tender Offer | ₹199.50Cr | 3800 | 3323.25 (2.01%) | 26-03-2024 | 01-04-2024 | 05-04-2024 | Freshtrop Fruits Limited | Tender Offer | ₹33.69Cr | 175 | 165.15 (0.76%) | 02-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
Greaves Cotton 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 Greaves Cotton Ltd? How can I apply in Greaves Cotton Ltd Buyback offer?Last Updated on 2019-11-15T21:37:58+00:00