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Sasken Technologies Ltd Buyback Apr 2019

Rated 3/5 by Team InvestorGain

Incorporated in 1989, Sasken Technologies Ltd is a specialist in Semiconductor, Automotive, Smart Devices & Wearables, SatCom, Industrial Automation and Control Services and Transportation Industries. The company is focused on Product Engineering and Digital Transformation services. Sasken provides, its customers, the ability to integrate third-party solutions and perform extensive testing of the final product to ensure a zero-defect launch. Sasken Technologies Ltd have 5 office in India - Bangaluru (2 Offices), Hyderabad, Pune and Chennai. The company also have a global presence and offices in China, Japan, USA, Mexico, UK, Germany and Finland.

What is Sasken Technologies Ltd share buyback offer?

Sasken Technologies Buyback 2019 Latest Update

Apr 24th, 2019: Sasken Technologies Ltd (BSE:532663 | NSE:SASKEN) board has approved a proposal for buyback of up to 19.98 lakh shares at Rs 850 per share, aggregating Rs 169.88 Cr (Buyback Offer Size) which is 11.68% of total paid-up equity share capital.

What is Sasken Technologies Ltd Buyback details?

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

Buyback Type: Tender Offer
Buyback Offer Amount: Rs 169.88 Cr
Buyback Number of Shares: 19.98 lakh
Buyback Price: Rs 850
Buyback Offer Size (In %): 11.68%
Total Share Capital: Rs 1304.22 Cr
Face Value: 10 Per Equity Share

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

Review & Recommendation

We recommend fair for Sasken Technologies Buyback as acceptance ratio for the retail investor will be between 15 to 25%. We rated Sasken Technologies Buyback as 3.0/5.ratil holding is very high so acceptance ratio is going to low. Existing investor must have to take this opportunity to book profit, but this buyback is not for new retail investor.

Rating

Poor (<10% AR),Fair (Bw 11 to 30% AR), Average (Bw 30 to 60% AR, Good (Bw 60 to 90% AR),Excellent (>90% AR)

What are Sasken Technologies Ltd Buyback Important Dates?

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

Sasken Technologies Ltd buyback offer important dates
Buyback Activity Date
Board Meeting for Buyback proposal 24th Apr 2019
Buyback Approval date 24th Apr 2019
Public Announcement of Buyback 24th Apr 2019
Record Date 5th Jul 2019
Buyback opens on/Buyback Opening Date 11th Oct 2019
Buyback closes on/Buyback Closing Date 24th Oct 2019
Cut-off date to receive completed tender forms by Registrar 24th Nov 2019
Cut-off date for verification by the Registrar 4th Nov 2019
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar
4th Nov 2019
Last date of settlement of bids on the stock exchange 5th Nov 2019
Last date to return unaccepted shares by Registrar 5th Nov 2019
Last date of extinguishment of Equity Shares 12th Nov 2019

Sasken Technologies Ltd Share Holding Pattern as of Mar 2019

Stock Holding table gives a clear picture on retail investor holdings of Sasken Technologies 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 18.78%
Promoter-Indian 23.63%
Non-Promoter-Institutions 18.87%
Non-Promoter-Non-Institutions 38.41%

Sasken Technologies Ltd Public Announcement >>Document

Sasken Technologies Ltd Draft Letter of Offer >>Document

Sasken Technologies Ltd Letter of Offer >>Document

Sasken Technologies Ltd Post Buyback Public Announcement >>Document

Sasken Technologies 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 680.55 per equity share - in such case Max 293 Equity Shares as of Record Date 5th Jul 2019.
  • General category for all Shareholders other than Small Shareholders ("General Category")

Sasken Technologies Ltd Ratio of Buy Back

Category Entitlement Ratio of Buyback Per Equity Shares Entitlement Ratio of Buyback in %
Reserved Category 41 Equity Share out of every 165 fully paid-up Equity Share held on the Record Date. 25.85
General Category 46 Equity Share out of every 417 fully paid-up Equity Share held on the Record Date 11.03

Post buyback comments Sasken Technologies Ltd

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

In general category - response received 171.45%, No. of Equity Shares reserved in Buyback was 1750356 where valid bid received for retail category was 3001030 which is 171.45% oversubscribed.

In Reserved category for Small Shareholders (Retail) - response received only 159.65%, No. of Equity Shares reserved in Buyback was 308887 where valid bid received for retail category was 493136 which is 159.65%. Final Acceptance Ratio for Retail Investors was 80%.

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
Tanla Platforms LtdTender OfferRs 170 Cr1200844.55 (-1.33%)25-10-2022TBDTBD
Garware Technical Fibres LtdTender OfferRs 90 Cr37504-11-2022TBDTBD
Orbit Exports LimitedTender OfferRs 10 Cr245151.90 (-0.07%)18-11-2022TBDTBD
KRBL LimitedTender Offer₹325.00Cr500289.75 (0.77%)25-08-2023TBDTBD
Shervani Industrial Syndicate LimitedTender Offer₹6.83Cr510543.60 (1.91%)07-03-202414-03-202420-03-2024
Dwarikesh Sugar Industries LimitedTender Offer₹31.50Cr10580.37 (0.19%)20-03-2024TBDTBD
Garware Technical Fibres LimitedTender Offer₹199.50Cr38003201.80 (-1.15%)26-03-2024TBDTBD

Detail Article on Benefit from buyback offer >> Read

Sasken Technologies 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 Sasken Technologies Ltd? How can I apply in Sasken Technologies Ltd Buyback offer?

Company Contact Information

Registrar Contact Information

Last Updated on 2019-11-20T22:25:33+00:00

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User Reviews

1. Vijay Jain Apr 26 2019 10:00:19 PM Reply
If 20% acceptance ratio will come then remaining share costing will be 736