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Suraj Ltd Buyback Sept 2022


Suraj Ltd Buyback

TitleDetail
Company Name:Suraj Ltd
Buyback Type:Tender Offer
Total Share Capital:140.63
Offer Amount:Rs 6.93 Cr
Offer Size:4.67%
Buyback Number of Shares:9 Lakh
Buyback Price:77
Approx Entry Price:73
Promoters In:Y
Buyback Approval Date:08-08-2022
Record Date:20-08-2022
Open Date:14-09-2022
Close Date:27-09-2022
Payment Date:27-09-2022
Record Date Price:73
Maximum Retail Quantity:2590
Draft Letter of Offer:Draft Letter of Offer
Letter of Offer:Letter of Offer
Acceptance Ratio Retail:184 Equity Share out of every 813 Fully paid-up Equity Shares held on the Record Date.
Acceptance Ratio Retail %:22.63
Acceptance Ratio General:37 Equity Shares out of every 663 Fully paid-up Equity Shares held on the Record Date.
Acceptance Ratio General %:5.58%
Final Acceptance Ratio %:-

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Zerodha FAQs

The Record Date for Suraj Ltd Buyback offer is 20th Aug 2022

Which means you should hold the Suraj Ltd share in your demat account by closing session of 20th Aug 2022. Share purchased on and before (20th Aug 2022) - 2 business days will be available in your demat account by 20th Aug 2022.

 

Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Suraj Ltd shares at ₹73 and buyback offer price is ₹77, you can get ₹4 per accepted share. If you hold 2740 shares of Suraj Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 904 to 1370 shares with the gain from buyback of ₹3616 to ₹5480.

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.

Suraj Ltd Buyback Profit Calculation

% Share AcceptedNo of Shared AcceptedGain from Buyback Offer
33%904₹3616
50%1370₹5480
75%2055₹8220
100%2740₹10960

 

Steps to participate in Suraj Ltd buyback:

  1. On Record date (20th Aug 2022) you must have share of Suraj Ltd in your demat account/physical form. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
  2. After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
  3. Next step is with registrar - depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.

 

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 Suraj Ltd: 14th Sep 2022

Buyback closing date for Suraj Ltd: 27th Sep 2022

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 .

 

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 27th Sep 2022.

 

Buyback opening date for Suraj Ltd: 14th Sep 2022

Buyback closing date for Suraj Ltd: 27th Sep 2022

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 .

 


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