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.
»» Total Share Capital: 6,381.25 Cr
»» Face Value: 10 Per Equity Share
»» Buyback Offer Amount: Rs 257 Cr
»» Buyback Offer Size (In %): 9.97%
»» Buyback Number of Shares: 96.98 Lakh
»» Buyback Price: Rs 265
»» Promoters and Promoter Group participation:Yes
»» Buyback type:Tender Offer
»» 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.
|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||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 RITES 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 %|
RITES Ltd Public Announcement >>Document
RITES 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|
|James Warren Tea Ltd||Tender Offer||Rs 19.836 Cr||114||108.70 (4.27%)||18-09-2020||TBD||TBD||Cheviot Company Ltd||Tender Offer||Rs 18 Cr||900||671.75 (1.68%)||18-09-2020||22-10-2020||05-11-2020||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||TCS||Tender Offer||Rs 16000 Cr||3000||2762.50 (0.87%)||TBD||TBD||TBD||Wipro Ltd||Tender Offer||Rs 9500 Cr||400||339.55 (-0.57%)||TBD||TBD||TBD|
Do you know you could reduce the brokerage cost significantly by moving to another stock broker? Our expert team compare top share brokers in India to help investors like you. STOP paying Demat AMC, brokerage in %, PCM fee and high stamp duty today.
We can help you choose the right broker. Contact us today...
Detail Article on Benefit from buyback offer >> ReadRITES 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 2020-09-29T08:32:03+00:00
The Record Date for RITES Ltd Buyback offer is 30th Sep 2020
Which means you should hold the RITES Ltd share in your demat account by closing session of 30th Sep 2020. Share purchased on and before (30th Sep 2020) - 2 business days will be available in your demat account by 30th Sep 2020.
Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have RITES Ltd shares at ₹260 and buyback offer price is ₹265, you can get ₹5 per accepted share. If you hold 769 shares of RITES Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 254 to 384 shares with the gain from buyback of ₹1270 to ₹1920.
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 RITES 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 RITES Ltd: Not Yet Announced
Buyback closing date for RITES 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.