RITES Ltd Buyback Review-2020

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Established in the year 1974, RITES Ltd is a Government of India enterprise which comes under the charge of Indian railways. The company is a multi-disciplinary consultancy organization that provides consultancy services in rail transport management to operators in India and abroad. It also provides its services in infrastructure and related technologies and has executed projects in over 62 countries.

RITES Ltd is recognized as a leading consultant with operational experience internationally in over 55 countries of Asia, Africa, Latin America, South America, and Middle East regions. The company got listed on both the major stock exchanges in India in July 2018.

RITES Ltd Buyback 2020 Latest Update

Sept 18, 2020: RITES Ltd (BSE: 541556 | NSE: RITES) board has approved a proposal for the repurchase of up to 96,98,113 (Ninety-Six Lakh Ninety Eight Thousand One hundred and Thirteen) shares at ₹265 (Two Hundred Sixty Five) per share, aggregating ₹257 Cr (Two hundred Fifty-Seven Crore) (Buyback Offer Size) representing 9.97% of the aggregate fully paid-up capital.

What is RITES Ltd Buyback details?

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

Buyback Type: Tender Offer
Buyback Offer Amount: Rs 257 Cr
Buyback Number of Shares: 96.98 Lakh
Buyback Price: Rs 265
Buyback Offer Size (In %): 9.97%
Total Share Capital: 6,381.25 Cr
Face Value: 10 Per Equity Share

Can I Invest today to participate in RITES Ltd buyback offer? No

What are RITES Ltd Buyback Important Dates?

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

RITES 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 18th Sep 2020
Record Date 30th Sep 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 13th Nov 2020
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar
17th Nov 2020
Last date of settlement of bids on the stock exchange 18th Nov 2020
Last date to return unaccepted shares by Registrar 18th Nov 2020
Last date of extinguishment of Equity Shares 24th Nov 2020

RITES Ltd Share Holding Pattern as of Jun 2020

Stock Holding table gives a clear picture on retail investor holdings of RITES 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 72.02%
Non-Promoter-Institutions 20.31%
Non-Promoter-Non-Institutions 6.17%

RITES Ltd Public Announcement >>Document

RITES Ltd Draft Letter of Offer >>Document

RITES Ltd Letter of Offer >>Document

RITES Ltd Post Buyback Public Announcement >>Document

RITES 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 253.35 per equity share - in such case Max 789 Equity Shares as of Record Date 30th Sep 2020.
  • General category for all Shareholders other than Small Shareholders ("General Category")

RITES Ltd Ratio of Buy Back

Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
Reserved Category 79 Equity Shares out of every 547 fully paid-up Equity Shares held on the Record Date 14.44
General Category 27 Equity Shares out of every 786 fully paid-up Equity Shares held on the Record Date 3.44%

Post buyback comments RITES Ltd

For RITES Ltd Buyback Offer, Report updated by the manager of buyback -

In general category - response received 259.65%, No. of Equity Shares reserved in Buyback was 8243396 where valid bid received for retail category was 23002332 which is 259.65% oversubscribed.

In Reserved category for Small Shareholders (Retail) - response received only 109.85%, No. of Equity Shares reserved in Buyback was 1454717 where valid bid received for retail category was 1598054 which is 109.85%. 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
Goldiam International LimitedTender Offer45.60 Cr1200861.75 (3.38%)27-10-202126-11-202109-12-2021
AksharChem (India) Ltd.Tender OfferRs 10 Cr59012-11-2021TBDTBD
S H Kelkar and Company LimitedTender OfferRs 60.90 Cr21012-11-2021TBDTBD
Nucleus Software Exports LtdTender OfferRs 158 Cr70027-11-2021TBDTBD
MOIL LimitedTender Offer693.77 Cr205172.65 (-0.80%)TBDTBDTBD
MPS LimitedTender Offer85 Cr900699.90 (-0.98%)TBDTBDTBD
Weizmann LimitedTender OfferRs 8.48 lakhs6058.25 (-0.17%)TBDTBDTBD

Detail Article on Benefit from buyback offer >> Read

RITES 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 RITES Ltd? How can I apply in RITES Ltd Buyback offer?

Company Contact Information

RITES BHAWAN, 1, Sector 29,
Gurgoan 122-001.
Tel. No.: +91-124-2571666
E-mail: [email protected]

Registrar Contact Information

Link Intime India Private Limited
C-101, 1st Floor, 247 Park,
Lal Bhadur Shastri Marg, Vikhroli (West), Mumbai 400 083
Tel:+91 022 49186200
Contact Person: Mr. Sumeet Deshpande
E-mail: [email protected]

Last Updated on 2021-04-13T01:43:06+00:00

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