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Tech Mahindra Limited is the India based multinational technology company and part of Mahindra Group. The company offers a plethora of solutions and services related to IT to various industry verticals and horizontals.
The leading services include Business Process Services, NextGen solutions, consulting, Infrastructure and Cloud Services, Integrated Engineering Solutions, Mobility Solutions. Network Services, Performance Engineering etc.
Tech Mahindra has offices in more than 60 countries and over 113,550 employees. The company has 926 active clients as of March 2018.
The company has done various mergers and acquisitions till now including Satyam Computers, Hutchison Global Services, Lightbridge Communications Corporation (LCC), SOFGEN Holdings, Pininfarina S.p.A., Midland Holdings, Dynacommerce BV etc.
Feb 4th, 2019: Tech Mahindra Ltd (BSE:532755 | NSE:TECHM) board has approved a proposal for buyback of up to 2.06 Cr shares at Rs 950 per share, aggregating Rs 1959 Cr (Buyback Offer Size) which is 2.09% of total paid-up equity share capital.
Below is the complete details about Tech Mahindra Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 1956 Cr |
| Buyback Number of Shares: | 2.06 Cr |
| Buyback Price: | Rs 950 |
| Buyback Offer Size (In %): | 2.09% |
| Total Share Capital: | Rs 81395.78 Cr |
| Face Value: | 5 Per Equity Share |
Can I Invest today to participate in Tech Mahindra Ltd buyback offer? No
In this section we have covered all important dates related to Tech Mahindra 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 | 20th Feb 2019 |
| Buyback Approval date | 20th Feb 2019 |
| Public Announcement of Buyback | 20th Feb 2019 |
| Record Date | 6th Mar 2019 |
| Buyback opens on/Buyback Opening Date | 25th Mar 2019 |
| Buyback closes on/Buyback Closing Date | 5th Apr 2019 |
| Cut-off date to receive completed tender forms by Registrar | 9th Apr 2019 |
| Cut-off date for verification by the Registrar | 11th Apr 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
12th Apr 2019 |
| Last date of settlement of bids on the stock exchange | 16th Apr 2019 |
| Last date to return unaccepted shares by Registrar | 16th Apr 2019 |
| Last date of extinguishment of Equity Shares | 23rd Apr 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Tech Mahindra 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 | 0.02% |
| Promoter-Indian | 35.94% |
| Non-Promoter-Institutions | 51.77% |
| Non-Promoter-Non-Institutions | 12.24% |
Tech Mahindra Ltd Public Announcement >>Document
Tech Mahindra Ltd Draft Letter of Offer >>Document
Tech Mahindra Ltd Letter of Offer >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 2 Equity Share out of every 19 fully paid-up Equity Share held on the Record Date. | 10.50 |
| General Category | 2 Equity Share out of every 109 fully paid-up Equity Share held on the Record Date. | 1.84% |
For Tech Mahindra Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 1056.67%, No. of Equity Shares reserved in Buyback was 17497250 where valid bid received for retail category was 184888283 which is 1056.67% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 374.35%, No. of Equity Shares reserved in Buyback was 3087750 where valid bid received for retail category was 11558974 which is 374.35%. Final Acceptance Ratio for Retail Investors was 16.08%.
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 | 966.40 (-1.91%) | 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 | 180.00 (6.48%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 299.20 (1.00%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 460.95 (-0.25%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Tech Mahindra 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 Tech Mahindra Ltd? How can I apply in Tech Mahindra Ltd Buyback offer?Last Updated on 2019-04-23T11:46:24+00:00
