Ad www.AngelOne.in
FREE Account Opening + Zero AMC Fees* + MutualFund SIP1
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
Ad www.AngelOne.in
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.
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 |
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.
| 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 |
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
| 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 |
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%.
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 | 985.20 (6.44%) | 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 | 169.05 (2.45%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 296.25 (-0.60%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 462.10 (0.35%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
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?Last Updated on 2020-11-26T01:28:07+00:00
