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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.
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.
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
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.
| 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 |
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
| 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% |
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%.
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 | 966.40 (-1.91%) | 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 | 180.00 (6.48%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 299.20 (1.00%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 460.95 (-0.25%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
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?Last Updated on 2021-04-13T01:43:06+00:00
