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KPR Mill Ltd Buyback 2019 Review

Rated 3.5/5 by Team InvestorGain

Incorporated in 1984, K.P.R. Mill Ltd is engaged in manufacturing of Readymade Knitted Apparel. This is 3rd consecutive year where KPR Mill is performing buyback. The size of 2019 buyback is more than double performed in 2018. The company has production units for Yarn, Knitted Grey & Dyed, Fabric and Readymade Garments. The company also invested in Wind Mills to produce around 70% power for its personal consumption use. The Company has Co-gen cum Sugar Plant at Karnataka.

What is KPR Mill Ltd buyback offer?

KPR Mill Buyback 2019 Latest Update

Apr 29th, 2019: KPR Mill Ltd (BSE:532889 | NSE:KPRMILL) board has approved a proposal for buyback of up to 37.50 lakh shares at Rs 702 per share, aggregating Rs 263.30 Cr (Buyback Offer Size) which is 5.17% of total paid-up equity share capital.

2018 Buyback of KPR Mill was half the size of 2019 buyback. Last year buyback size was 108 Cr- 13.35 lakhs share @810, where this year buyback size is 263.30 cr - 37.50 lakh shares @702.

KPR Mill 2018 Buyback Details.

Company has withdraw the buyback because of additional tax libalities of 20 percent.

What is KPR Mill Buyback details?

Below is the complete details about KPR Mill Buyback. Record date, buyback open and close dates are announce in below section.

Buyback Type: Tender Offer
Buyback Offer Amount: Rs 263.3 Cr
Buyback Number of Shares: 37.50 lakh
Buyback Price: Rs 702
Buyback Offer Size (In %): 5.17%
Total Share Capital: Rs 4339.13 Cr
Face Value: 5 Per Equity Share

Can I Invest today to participate in KPR Mill buyback offer? No

Review & Recommendation

We recommend average for KPR Mill Buyback as acceptance ration for the retail investor will be between 40 to 50%. We rated KPR Mill Buyback as 3.5/5 (Average). Last year also in retail category acceptance ratio was 13 to 15% on 108 Cr buyback(13.35 lakh shares), so we are expecting acceptance ration will go up by 3 to 4 times. For existing investor of KPR Mills, this is a good premium. A new retail investor can also go for KPR Mill buyback as proposed buyback price is up by 16%.

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 KPR Mill Buyback Important Dates?

In this section we have covered all important dates related to KPR Mill 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.

KPR Mill buyback offer important dates
Buyback Activity Date
Board Meeting for Buyback proposal 29th Apr 2019
Buyback Approval date 29th Apr 2019
Public Announcement of Buyback 29th Apr 2019
Record Date 19th Jun 2019
Buyback opens on/Buyback Opening Date 29th Oct 2019
Buyback closes on/Buyback Closing Date 11th Nov 2019
Cut-off date to receive completed tender forms by Registrar 13th Nov 2019
Cut-off date for verification by the Registrar 14th Nov 2019
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar
18th Nov 2019
Last date of settlement of bids on the stock exchange 19th Nov 2019
Last date to return unaccepted shares by Registrar 19th Nov 2019
Last date of extinguishment of Equity Shares 21st Nov 2019

KPR Mill Share Holding Pattern as of Mar 2019

Stock Holding table gives a clear picture on retail investor holdings of KPR Mill 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 74.99%
Non-Promoter-Institutions 15.98%
Non-Promoter-Non-Institutions 9.03%

KPR Mill Letter of Offer >>Document

KPR Mill Post Buyback Public Announcement >>Document

KPR Mill 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 622 per equity share - in such case Max 321 Equity Shares as of Record Date 19th Jun 2019.
  • General category for all Shareholders other than Small Shareholders ("General Category")

KPR Mill Ratio of Buy Back

Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
Reserved Category 95 Equity Share out of every 142 fully paid-up Equity Share held on the Record Date. 66.90
General Category 7 Equity Share out of every 153 fully paid-up Equity Share held on the Record Date. 4.58%

Post buyback comments KPR Mill

For KPR Mill Buyback Offer, Report updated by the manager of buyback -

In general category - response received 641%, No. of Equity Shares reserved in Buyback was 3188166 where valid bid received for retail category was 20436178 which is 641% oversubscribed.

In Reserved category for Small Shareholders (Retail) - response received only 49.99%, No. of Equity Shares reserved in Buyback was 562618 where valid bid received for retail category was 281265 which is 49.99%. Final Acceptance Ratio for Retail Investors was 100%.

Current and Upcoming Buybacks Key dates

The table below will give you a complete dashboard view for all open buyback offer in current market.

Current and Upcoming Buybacks Key dates
Company NameBuyback TypeOffer AmountBuyback PriceCMPRecord DateBuyback Open DateBuyback End Date
Tanla Platforms LtdTender OfferRs 170 Cr1200844.55 (-1.33%)25-10-2022TBDTBD
Garware Technical Fibres LtdTender OfferRs 90 Cr37504-11-2022TBDTBD
Orbit Exports LimitedTender OfferRs 10 Cr245151.90 (-0.07%)18-11-2022TBDTBD
KRBL LimitedTender Offer₹325.00Cr500289.75 (0.77%)25-08-2023TBDTBD
Shervani Industrial Syndicate LimitedTender Offer₹6.83Cr510543.60 (1.91%)07-03-202414-03-202420-03-2024
Dwarikesh Sugar Industries LimitedTender Offer₹31.50Cr10580.37 (0.19%)20-03-2024TBDTBD
Garware Technical Fibres LimitedTender Offer₹199.50Cr38003201.80 (-1.15%)26-03-2024TBDTBD

Detail Article on Benefit from buyback offer >> Read

KPR Mill 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 KPR Mill? How can I apply in KPR Mill Buyback offer?

Company Contact Information

KPR Mill Ltd
No 9 Gokul Buildings 1st Floor,
AKS Nagar Thadagam Road,
Tamil Nadu-641001

Registrar Contact Information

Karvy Computershare Pvt Ltd
Karvy Selenium Tow-B,
Pl-31&32 Gachibowli,
Nanakramguda,
Hyderabad-500032

Last Updated on 2019-11-20T22:06:09+00:00

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User Reviews

1. Amit Gosh May 01 2019 11:24:35 AM Reply
Thanks for Update, last year buyback price was 810, why it''s low this year. Why you have recommended buy rating when last year acceptance ratio was 13% only.