Magna Electro Castings Ltd Buyback Review

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Incorporated in the year 1990, Magna Electro Castings Ltd is in the business of manufacturing and supplying ferrous components in small and medium volumes to users worldwide. The company manufactures the Ductile Iron and Gray Iron casting weighing between the range of 300 grams to a maximum of 2000 Kilograms. Along with casting products, Magna Electro also produces machining and other special products such as Exhaust Manifold, Ductile Iron Valve with SS ring, Casting Charger, etc.

What is Magna Electro Castings Ltd's share buyback offer?

Magna Electro Castings Buyback 2020: Latest Update

Sept 29,2020: Magna Electro Castings Ltd (BSE: 517449| NSE: NA) board has approved a proposal for purchase of up to 4 Lakh (Four Lakh) shares at ₹175 (One Hundred and Seventy-Five) per share, aggregating ₹7 Cr (Seven Crore) (Buyback Offer Size) that is 8.73% of total paid equity share capital and free reserves.

What is Magna Electro Castings Ltd Buyback details?

Below is the complete details about Magna Electro Castings Ltd Buyback. Record date, buyback open and close dates are announce in below section.

    Buyback Type: Tender Offer
    Buyback Offer Amount: 7 Cr
    Buyback Number of Shares: 4 lakh
    Buyback Price: Rs 175
    Buyback Offer Size (In %): 8.73%
    Total Share Capital: 75.01 Cr
    Face Value: 10 Per Equity Share
    Buyback Offer Size (In %): 8.73%

Can I Invest today to participate in Magna Electro Castings Ltd buyback offer? No

What are Magna Electro Castings Ltd Buyback Important Dates?

In this section we have covered all important dates related to Magna Electro Castings 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.

    Magna Electro Castings Ltd buyback offer important dates
    Buyback Activity Date
    Board Meeting for Buyback proposal 18th Sep 2020
    Buyback Approval date 18th Sep 2020
    Public Announcement of Buyback 21st Sep 2020
    Record Date 1st Oct 2020
    Buyback opens on/Buyback Opening Date 27th Oct 2020
    Buyback closes on/Buyback Closing Date 10th Nov 2020
    Cut-off date to receive completed tender forms by Registrar 12th Nov 2020
    Cut-off date for verification by the Registrar 17th Nov 2020
    Cut-off date to inform Stock Exchange on acceptance or non-acceptance
    of tendered Equity Shares by Registrar
    18th Nov 2020
    Last date of settlement of bids on the stock exchange 19th Nov 2020
    Last date to return unaccepted shares by Registrar 19th Nov 2020
    Last date of extinguishment of Equity Shares 26th Nov 2020

Magna Electro Castings Ltd Share Holding Pattern as of June 2020

Stock Holding table gives a clear picture on retail investor holdings of Magna Electro Castings 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 1.09%
    Promoter-Indian 48.45%
    Non-Promoter-Institutions 15.46%
    Non-Promoter-Non-Institutions 35%

Magna Electro Castings Ltd Public Announcement >>Document

Magna Electro Castings Ltd Draft Letter of Offer >>Document

Magna Electro Castings Ltd Letter of Offer >>Document

Magna Electro Castings Ltd Post Buyback Public Announcement >>Document

Magna Electro Castings 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 159 per equity share - in such case Max 1257 Equity Shares as of Record Date 1st Oct 2020.
    • General category for all Shareholders other than Small Shareholders ("General Category")

    Magna Electro Castings Ltd Ratio of Buy Back

    Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
    Reserved Category 74 Equity Shares out of every 437 fully paid-up Equity Shares held on the Record Date 16.93
    General Category 74 Equity Shares out of every 437 fully paid-up Equity Shares held on the Record Date 16.93

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

Post buyback comments Magna Electro Castings Ltd

    For Magna Electro Castings Ltd Buyback Offer, Report updated by the manager of buyback -

    In general category - response received 98.59%, No. of Equity Shares reserved in Buyback was 297153 where valid bid received for retail category was 292965 which is 98.59% oversubscribed.

    In Reserved category for Small Shareholders (Retail) - response received only 55.56%, No. of Equity Shares reserved in Buyback was 102847 where valid bid received for retail category was 57141 which is 55.56%. 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
Garware Technical Fibres LimitedTender Offer72.99 Cr23002293.55 (0.98%)11-12-202019-01-202102-02-2021
Jullundur Motor Agency (Delhi) LimitedTender OfferRs 26.82 Cr3634.1 (-0.15%)24-12-2020TBDTBD
Engineers India LimitedTender Offer586.90 Cr8473.70 (-2.83%)01-01-202122-01-202105-02-2021
Industrial & Prudential Investment Co. LtdTender OfferRs 8.34 Cr1,2001103.65 (-1.88%)01-01-2021TBDTBD
Indian Toners and Developers LimitedTender Offer36.98 Cr160121.90 (-0.77%)15-01-2021TBDTBD
NIIT LimitedTender OfferRs 237 Cr240188.75 (-2.56%)TBDTBDTBD

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Detail Article on Benefit from buyback offer >> Read

Magna Electro Castings 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 Magna Electro Castings Ltd? How can I apply in Magna Electro Castings Ltd Buyback offer?

Company Contact Information

RITES Ltd
43 (Old No 62), Balasundaram Road,
Coimbatore -641018.
Tel. No.: +91-422-2240109
E-mail: [email protected]
Website: www.magnacast.com

Registrar Contact Information

S.K.D.C. CONSULTANTS LIMITED
PB No. 2016, "Kanapathy Towers",
3rdFloor, 1391/A1, Sathy Road, Ganapathy Post,
Coimbatore 641006, TN, India
Tel:+91 422 4958995
Contact Person: Mr. K. Jayakumar
E-mail: [email protected]
Request call back from

Last Updated on 2020-11-26T01:28:07+00:00


Buyback FAQs

  1. 1. What is the record date for Magna Electro Castings Ltd buyback offer?

    The Record Date for Magna Electro Castings Ltd Buyback offer is 1st Oct 2020

    Which means you should hold the Magna Electro Castings Ltd share in your demat account by closing session of 1st Oct 2020. Share purchased on and before (1st Oct 2020) - 2 business days will be available in your demat account by 1st Oct 2020.

     

     

  2. 2. How much I can make with Magna Electro Castings Ltd buyback offer?

    Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Magna Electro Castings Ltd shares at ₹160 and buyback offer price is ₹175, you can get ₹15 per accepted share. If you hold 1250 shares of Magna Electro Castings Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 412 to 625 shares with the gain from buyback of ₹6180 to ₹9375.

    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.

    Magna Electro Castings Ltd Buyback Profit Calculation

    % Share AcceptedNo of Shared AcceptedGain from Buyback Offer
    33%412₹6180
    50%625₹9375
    75%938₹14070
    100%1250₹18750

     

     

  3. 3. How to Participate in Magna Electro Castings Ltd buyback offer?

    Steps to participate in Magna Electro Castings Ltd buyback:

    1. On Record date (1st Oct 2020) you must have share of Magna Electro Castings 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 Magna Electro Castings 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 will know how much shares accepted in Magna Electro Castings 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 19th Nov 2020.

     

     

  6. 6. When I need to tender Magna Electro Castings Ltd share for buyback?

    Buyback opening date for Magna Electro Castings Ltd: 27th Oct 2020

    Buyback closing date for Magna Electro Castings Ltd: 10th Nov 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 12th Nov 2020.

     

     

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  2020-09-29T08:50:16+00:00

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