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.
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.
»» Total Share Capital: 75.01 Cr
»» Face Value: 10 Per Equity Share
»» Buyback Offer Amount: 7 Cr
»» Buyback Offer Size (In %): 8.73%
»» Buyback Number of Shares: 4 lakh
»» Buyback Price: Rs 175
»» Promoters and Promoter Group participation:Yes
»» Buyback type:Tender Offer
»» Can I Invest today to participate in Magna Electro Castings Ltd buyback offer :No
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.
|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||Not Yet Announced|
|Buyback closes on/Buyback Closing Date||Not Yet Announced|
|Cut-off date to receive completed tender forms by Registrar||Not Yet Announced|
|Cut-off date for verification by the Registrar||Not Yet Announced|
|Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar||Not Yet Announced|
|Last date of settlement of bids on the stock exchange||Not Yet Announced|
|Last date to return unaccepted shares by Registrar||Not Yet Announced|
|Last date of extinguishment of Equity Shares||Not Yet Announced|
Stock Holding table will give you a clear picture, how many retail investor holding Magna Electro Castings Ltd shares, with this you can plan for participate in buyback offer. The less number of retail holding make more chance to get higher acceptance ratio in buyback under ratail category = higher profit.
|Holding Type||In %|
Magna Electro Castings Ltd Public Announcement >>Document
Magna Electro Castings Ltd Draft Letter of Offer >>Document
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|
|Cheviot Company Ltd||Tender Offer||Rs 18 Cr||900||671.75 (1.68%)||18-09-2020||22-10-2020||05-11-2020||James Warren Tea Ltd||Tender Offer||Rs 19.836 Cr||114||108.70 (4.27%)||18-09-2020||TBD||TBD||Dhanuka Agritech Ltd||Tender Offer||Rs 100 Cr||1,000||734.90 (2.64%)||28-09-2020||20-10-2020||02-11-2020||RITES Ltd||Tender Offer||Rs 257 Cr||265||239.60 (0.19%)||30-09-2020||TBD||TBD||Magna Electro Castings Ltd||Tender Offer||7 Cr||175||147.40 (-0.03%)||01-10-2020||TBD||TBD||Wipro Ltd||Tender Offer||Rs 9500 Cr||400||339.55 (-0.57%)||TBD||TBD||TBD||TCS||Tender Offer||Rs 16000 Cr||3000||2762.50 (0.87%)||TBD||TBD||TBD|
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Detail Article on Benefit from buyback offer >> ReadMagna 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?
Last Updated on 2020-09-29T12:36:19+00:00
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.
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.
|% Share Accepted||No of Shared Accepted||Gain from Buyback Offer|
Steps to participate in Magna Electro Castings Ltd 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.
Buyback opening date for Magna Electro Castings Ltd: Not Yet Announced
Buyback closing date for Magna Electro Castings Ltd: Not Yet Announced
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 Not Yet Announced.
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 Not Yet Announced.
Money will be directly deposited in your registered bank account with broker. Usually money will be deposited on and after Not Yet Announced, which is last date of settlement of bids on the Stock Exchange.
In case of physical share holding, you will get a cheque.