Incorporated in the year 1985, Suprajit Engineering Limited started manufacturing high-quality liner cables to exacting Japanese standards for the automotive industry in 1987. Currently, the company is India’s one of the largest manufacturers of automotive cables and also catering to a wide spectrum of non-automotive cable requirements.
Suprajit Engineering Ltd is repurchasing its shares from the market worth Rs 48 Cr which aggregates 6.49% of total paid-up capital. The company will buyback 15 Lakh shares at Rs 320 per share. It has finalized the record date on 22nd February 2021. The buyback price is 20% higher than the closing price on the announcement date.
Below is the complete details about Suprajit Engineering Limited Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 48 Cr |
| Buyback Number of Shares: | 15 Lakh |
| Buyback Price: | Rs 320 |
| Buyback Offer Size (In %): | 6.69% |
| Total Share Capital: | 3,568.8 Cr |
| Face Value: | 1 Per Equity Share |
Can I Invest today to participate in Suprajit Engineering Limited buyback offer? No
In this section we have covered all important dates related to Suprajit Engineering Limited 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 | 10th Feb 2021 |
| Buyback Approval date | 10th Feb 2021 |
| Public Announcement of Buyback | 12th Feb 2021 |
| Record Date | 22nd Feb 2021 |
| Buyback opens on/Buyback Opening Date | 8th Apr 2021 |
| Buyback closes on/Buyback Closing Date | 26th Apr 2021 |
| Cut-off date to receive completed tender forms by Registrar | 28th Apr 2021 |
| Cut-off date for verification by the Registrar | 4th May 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 4th May 2021 |
| Last date of settlement of bids on the stock exchange | 5th May 2021 |
| Last date to return unaccepted shares by Registrar | 5th May 2021 |
| Last date of extinguishment of Equity Shares | 12th May 2021 |
Stock Holding table gives a clear picture on retail investor holdings of Suprajit Engineering Limited 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 | 3.5% |
| Promoter-Indian | 44.6% |
| Non-Promoter-Institutions | 16.2% |
| Non-Promoter-Non-Institutions | 10.8% |
Suprajit Engineering Limited Public Announcement >>Document
Suprajit Engineering Limited Draft Letter of Offer >>Document
Suprajit Engineering Limited Letter of Offer >>Document
For Buy back shares holders are divided in 2 categories:
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 3 Equity Shares out of every 82 fully paid-up Equity Sharesheld on the Record Date | 3.65% |
| General Category | 4 Equity Shares out of every 441 fully paid-up Equity Sharesheld on the Record Date | 0.91% |
Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.
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 |
|---|---|---|---|---|---|---|---|
| Smartlink Holdings Limited | Tender Offer | Rs 31.58 Cr | 95 | 86.65 (-0.40%) | 01-03-2021 | 30-04-2021 | 14-05-2021 | SIS Limited | Tender Offer | Rs 100 Cr | 550 | 374.20 (0.43%) | 09-04-2021 | 12-05-2021 | 27-05-2021 | Quick Heal | Tender Offer | Rs 155 Cr | 245 | 184.10 (0.22%) | 03-05-2021 | TBD | TBD |
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Detail Article on Benefit from buyback offer >> Read
Suprajit Engineering Limited 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 Suprajit Engineering Limited? How can I apply in Suprajit Engineering Limited Buyback offer?
Last Updated on 2021-04-05T23:36:45+00:00
The Record Date for Suprajit Engineering Limited Buyback offer is 22nd Feb 2021
Which means you should hold the Suprajit Engineering Limited share in your demat account by closing session of 22nd Feb 2021. Share purchased on and before (22nd Feb 2021) - 2 business days will be available in your demat account by 22nd Feb 2021.
Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Suprajit Engineering Limited shares at ₹260 and buyback offer price is ₹320, you can get ₹60 per accepted share. If you hold 769 shares of Suprajit Engineering Limited 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 ₹15240 to ₹23040.
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 |
|---|---|---|
| 33% | 254 | ₹15240 |
| 50% | 384 | ₹23040 |
| 75% | 577 | ₹34620 |
| 100% | 769 | ₹46140 |
Steps to participate in Suprajit Engineering Limited 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 Suprajit Engineering Limited: 8th Apr 2021
Buyback closing date for Suprajit Engineering Limited: 26th Apr 2021
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 28th Apr 2021.
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 5th May 2021.
Buyback opening date for Suprajit Engineering Limited: 8th Apr 2021
Buyback closing date for Suprajit Engineering Limited: 26th Apr 2021
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 28th Apr 2021.
