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Zenith Fibres Ltd Buyback 2019 Review

Rated 2.5/5 by Team InvestorGain

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.

What is Zenith Fibres Ltd buyback offer?

Zenith Fibres Buyback 2019 Latest Update

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.

What is Zenith Fibres Limited Buyback details?

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

Review & Recommendation

We don't see big profit in Zenith Fibres Ltd buyback, Acceptance Ratio is going to between 20 to 30%, existing holders can exit.

What are Zenith Fibres Limited Buyback Important Dates?

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.

Zenith Fibres Limited buyback offer important dates
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

Zenith Fibres Limited Share Holding Pattern as of Dec 2018

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

Zenith Fibres Limited Ratio of Buyback

    For Buy back shares holders are divided in 2 categories:
  • Reserved category for Small Shareholders ("Reserved Category") - Who holds Max Rs 2 Lakhs worth of shares @Rs 54.15 per equity share - in such case Max 3693 Equity Shares as of Record Date 12th Apr 2019.
  • General category for all Shareholders other than Small Shareholders ("General Category")

Zenith Fibres Limited Ratio of Buy Back

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%

Post buyback comments Zenith Fibres Limited

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%.

Current and Upcoming Buybacks Key dates

The table below will give you a complete dashboard view for all open buyback offer in current market.

Current and Upcoming Buybacks Key dates
Company NameBuyback TypeOffer AmountBuyback PriceCMPRecord DateBuyback Open DateBuyback End Date
Tanla Platforms LtdTender OfferRs 170 Cr1200819.00 (0.44%)25-10-2022TBDTBD
Garware Technical Fibres LtdTender OfferRs 90 Cr37504-11-2022TBDTBD
Orbit Exports LimitedTender OfferRs 10 Cr245140.55 (0.14%)18-11-2022TBDTBD
KRBL LimitedTender Offer₹325.00Cr500277.50 (-1.65%)25-08-2023TBDTBD
Dwarikesh Sugar Industries LimitedTender Offer₹31.50Cr10569.50 (-5.61%)20-03-202427-03-202403-04-2024
Garware Technical Fibres LimitedTender Offer₹199.50Cr38003323.25 (2.01%)26-03-202401-04-202405-04-2024
Freshtrop Fruits LimitedTender Offer₹33.69Cr175165.15 (0.76%)02-04-2024TBDTBD

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?

Company Contact Information

Zenith Fibres Limited,
205, Marol Bhavan, 2nd Floor,
Sir M V Road Marol, J B Nagar Post,
Andheri East, Mumbai, 400059

Registrar Contact Information

Universal Capital Securities Private Limited
21/25 Shakil Niwas,
Opp Satya Saibaba Temple,
Mahakali Caves Road, Andheri (East),
Mumbai -400093

Last Updated on 2019-07-18T04:53:42+00:00

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