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Incorporated in 1989, Zenith Fibres Ltd is a manufacturer of POLYPROPYLENE STAPLE FIBRE. The corporate is also engaged in the marketing of PP SPUN and DREF-2 Yarn. Company have presence in domestic and international market.
March 30th, 2019:Zenith Fibres Ltd (Zenith Fibres: | NSE:Zenith Fibres) board has approved a proposal for purchase of up to 5.5 lakh(sixty seven and sixty fuor lakh) shares at Rs 55 (six hundred eighty ) per share, aggregating Rs 3.02 Cr(four hundred and sixty crore) (Buyback Offer Size) that is 6.39% of total paid equity share capital.
Below is the complete details about Zenith Fibres Limited Buyback. Record date, buyback open and close dates are announce in below section.
Buyback Type: | Tender Offer |
Buyback Offer Amount: | Rs 30.25 Cr |
Buyback Number of Shares: | 5.50 lakhs |
Buyback Price: | Rs 55 |
Buyback Offer Size (In %): | 12.44% |
Total Share Capital: | Rs 24.12 Cr |
Face Value: | 10 Per Equity Share |
Can I Invest today to participate in Zenith Fibres Limited buyback offer? No
We don't see big profit in Zenith Fibres Ltd buyback, Acceptance Ratio is going to between 20 to 30%, existing holders can exit.
In this section we have covered all important dates related to Zenith Fibres 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 | 30th Mar 2019 |
Buyback Approval date | 30th Mar 2019 |
Public Announcement of Buyback | 30th Mar 2019 |
Record Date | 12th Apr 2019 |
Buyback opens on/Buyback Opening Date | 16th May 2019 |
Buyback closes on/Buyback Closing Date | 29th May 2019 |
Cut-off date to receive completed tender forms by Registrar | 31st May 2019 |
Cut-off date for verification by the Registrar | 7th Jun 2019 |
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
7th Jun 2019 |
Last date of settlement of bids on the stock exchange | 10th Jun 2019 |
Last date to return unaccepted shares by Registrar | 10th Jun 2019 |
Last date of extinguishment of Equity Shares | 17th Jun 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Zenith Fibres 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 | 0.0% |
Promoter-Indian | 50.27% |
Non-Promoter-Institutions | 0.17% |
Non-Promoter-Non-Institutions | 49.73% |
Zenith Fibres Limited Letter of Offer >>Document
Zenith Fibres Limited Post Buyback Public Announcement >>Document
Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
---|---|---|
Reserved Category | 118 Equity Share out of every 589 fully paid-up Equity Share held on the Record Date. | 20.03 |
General Category | 118 Equity Share out of every 589 fully paid-up Equity Share held on the Record Date. | 2.03% |
For Zenith Fibres Limited Buyback Offer, Report updated by the manager of buyback -
In general category - response received 134%, No. of Equity Shares reserved in Buyback was 341313 where valid bid received for retail category was 457365 which is 134% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 100%, No. of Equity Shares reserved in Buyback was 208687 where valid bid received for retail category was 20845 which is 100%. 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 | 819.00 (0.44%) | 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 | 140.55 (0.14%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 277.50 (-1.65%) | 25-08-2023 | TBD | TBD | Dwarikesh Sugar Industries Limited | Tender Offer | ₹31.50Cr | 105 | 69.50 (-5.61%) | 20-03-2024 | 27-03-2024 | 03-04-2024 | Garware Technical Fibres Limited | Tender Offer | ₹199.50Cr | 3800 | 3323.25 (2.01%) | 26-03-2024 | 01-04-2024 | 05-04-2024 | Freshtrop Fruits Limited | Tender Offer | ₹33.69Cr | 175 | 165.15 (0.76%) | 02-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
Zenith Fibres 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 Zenith Fibres Limited? How can I apply in Zenith Fibres Limited Buyback offer?Last Updated on 2019-07-18T04:53:42+00:00