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Jan 4th, 2019: Shervani Industrial Syndicate Ltd (BSE:526117 | NSE:) board has approved a proposal for buyback of up to 4.15 lakh shares at Rs 500 per share, aggregating Rs 20.75 Cr (Buyback Offer Size) which is 13.32% of total paid-up equity share capital.
Below is the complete details about Shervani Industrial Syndicate Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 20.75 Cr |
| Buyback Number of Shares: | 4.15 lakh |
| Buyback Price: | Rs 500 |
| Buyback Offer Size (In %): | 13.32% |
| Total Share Capital: | Rs 192.13 Cr |
| Face Value: | 10 Per Equity Share |
Can I Invest today to participate in Shervani Industrial Syndicate Ltd buyback offer? No
We advocate honest for Shervani Industrial Syndicate Ltd buyback as acceptance ratio for the retail investors are going to be between sixty to hundred percent (60-100%). We tend to rate Shervani Industrial Syndicate Ltd buyback as 2/5 (Poor).
As current market price (Rs 710) is 45% higher from the buyback price (Rs 500), so we recommend to ignore this buyback and sell your holding in open market. We assume that promoters who wish to tender their shares in buyback will also ignore this buyback offer.
Poor (<10% AR),Fair (Bw 11 to 30% AR), Average (Bw 30 to 60% AR, Good (Bw 60 to 90% AR),Excellent (>90% AR)
In this section we have covered all important dates related to Shervani Industrial Syndicate 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 | 30th Jan 2019 |
| Buyback Approval date | 15th Mar 2019 |
| Public Announcement of Buyback | 18th Mar 2019 |
| Record Date | 29th Mar 2019 |
| Buyback opens on/Buyback Opening Date | 9th May 2019 |
| Buyback closes on/Buyback Closing Date | 22nd May 2019 |
| Cut-off date to receive completed tender forms by Registrar | 24th May 2019 |
| Cut-off date for verification by the Registrar | 29th May 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
30th May 2019 |
| Last date of settlement of bids on the stock exchange | 31st May 2019 |
| Last date to return unaccepted shares by Registrar | 31st May 2019 |
| Last date of extinguishment of Equity Shares | 7th Jun 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Shervani Industrial Syndicate 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 | 63.00% |
| Promoter-Indian | 17.93% |
| Non-Promoter-Institutions | 0.19% |
| Non-Promoter-Non-Institutions | 36.81% |
Shervani Industrial Syndicate Ltd Draft Letter of Offer >>Document
Shervani Industrial Syndicate Ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 7 Equity Share out of every 11 fully paid-up Equity Share held on the Record Date. | 63.68 |
| General Category | 9 Equity Share out of every 77 fully paid-up Equity Share held on the Record Date. | 11.68 |
For Shervani Industrial Syndicate Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 100%, No. of Equity Shares reserved in Buyback was 32750 where valid bid received for retail category was 415403 which is 100% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 0.0%, No. of Equity Shares reserved in Buyback was 62250 where valid bid received for retail category was 0 which is 0.0%. Final Acceptance Ratio for Retail Investors was .
As the current market share price was approx 15% above buyback so no bid was received from a small shareholder. All shares were processed from promoters in this buyback.
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 | 931.65 (-1.06%) | 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 | 164.70 (0.61%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 290.95 (-1.59%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 459.65 (-0.45%) | 22-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
Shervani Industrial Syndicate 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 Shervani Industrial Syndicate Ltd? How can I apply in Shervani Industrial Syndicate Ltd Buyback offer?Last Updated on 2019-06-10T11:49:26+00:00
