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AB SKF Incorporated in 1907, AB SKF is a Swedish company, the market leader in manufacturing and supplier of bearings, seals, lubrication and lubrication systems, maintenance products, mechatronics products, power transmission products, condition monitoring systems, and related services globally.
Incorporated in 1961, SKF India Ltd is a collaboration between AB SKF(Swedish Company), Associated Bearing Company limited and Investment Corporation of India Ltd. SKF India LTD commissioned its first plat in Pune in 1965. Currently, the company has 3 manufacturing units - Pune, Bangalore, and Haridwar, with 11 sales offices across India. The Company has a supplier network of over 300 distributors. The company has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven integrated solutions provider, helping customers achieve a sustainable and competitive advantage.
Oct 24, 2018: SKF India Ltd (BSE:500472 | NSE:SKFINDIA) board has approved a proposal for buyback of up to 19 Lakhs shares at Rs 2100 per share, aggregating Rs 399 cr which is 3.70% of total number of paid-up equity shares capital.
Last year 2017-2018(Feb 08 2017) company performed 390 Cr buyback. Market Price when buyback was announced was 1350 and buyback price was finalized on 1500. In such case person who proposed his share for buyback has got approx 150 per share. For retail investor last year acceptance ration was 100%.
Below is the complete details about SKF India Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 399 Cr |
| Buyback Number of Shares: | 19 lakhs |
| Buyback Price: | Rs 2100 |
| Buyback Offer Size (In %): | 3.70% |
| Total Share Capital: | Rs 8989.28 Cr |
| Face Value: | 10 Per Equity Share |
Can I Invest today to participate in SKF India Ltd buyback offer? No
In this section we have covered all important dates related to SKF India 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 | 24th Oct 2018 |
| Buyback Approval date | 24th Oct 2018 |
| Public Announcement of Buyback | 24th Oct 2018 |
| Record Date | 21st Dec 2018 |
| Buyback opens on/Buyback Opening Date | 23rd Jan 2019 |
| Buyback closes on/Buyback Closing Date | 5th Feb 2019 |
| Cut-off date to receive completed tender forms by Registrar | 7th Feb 2019 |
| Cut-off date for verification by the Registrar | 13th Feb 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
13th Feb 2019 |
| Last date of settlement of bids on the stock exchange | 15th Feb 2019 |
| Last date to return unaccepted shares by Registrar | 15th Feb 2019 |
| Last date of extinguishment of Equity Shares | 22nd Feb 2019 |
Stock Holding table gives a clear picture on retail investor holdings of SKF India 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 | 52.32% |
| Non-Promoter-Institutions | 34.23% |
| Non-Promoter-Non-Institutions | 13.45% |
SKF India Ltd Letter of Offer >>Document
SKF India Ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 176 Equity Share out of every 491 fully paid-up Equity Share held on the Record Date. | 35.85 |
| General Category | 27 Equity Share out of every 845 fully paid-up Equity Share held on the Record Date. | 3.20% |
For SKF India Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 350.76%, No. of Equity Shares reserved in Buyback was 1615000 where valid bid received for retail category was 5663337 which is 350.76% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 83.70%, No. of Equity Shares reserved in Buyback was 285000 where valid bid received for retail category was 238558 which is 83.70%. 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 | 985.20 (6.44%) | 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 | 169.05 (2.45%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 296.25 (-0.60%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 462.10 (0.35%) | 22-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
SKF India 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 SKF India Ltd? How can I apply in SKF India Ltd Buyback offer?Last Updated on 2019-02-22T01:55:51+00:00
