Tender Offer | ₹59.85 Crores | Listed at BSE, NSE | Wed, Aug 9, 2023 - Thu, Aug 17, 2023
Aarti Drugs Ltd. Buyback is a tender offer for the repurchase of up to 0.07 crore equity shares at a buyback price of ₹900 per share with a face value of ₹10 per share, aggregating to ₹59.85 crores.
The record date for determining eligible shareholders is Aug 4, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 9, 2023 and closes on Aug 17, 2023, with the last date for receipt of tender forms being Aug 17, 2023.
The finalisation of buyback acceptance is expected on Aug 23, 2023, followed by settlement of bids on Aug 24, 2023.
Inga Ventures Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Ghalla Bhansali Stock Brokers Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Aarti Drugs Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Aug 9, 2023
Offer Closing Date
Thu, Aug 17, 2023
Buyback Price
₹900 per share
Record Date
August 4, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares out of every 157 Fully paid-up Equity Shares held on the Record Date. | 99,750.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 150 Fully paid-up Equity Shares held on the Record Date. | 565,250.00 |
| Period Ended | 31 Mar 2019 | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,455.49 | 1,576.50 | 1,766.01 | 2,207.96 | 2,421.40 |
| Revenue | 1,436.09 | 1,626.75 | 2,159.31 | 2,499.96 | 2,718.25 |
| Profit After Tax | 89.75 | 141.40 | 280.40 | 205.00 | 166.36 |
| Net Worth | 904.27 | 1,026.52 | 1,184.10 | ||
| Reserves and Surplus | |||||
| Total Borrowing |
Incorporated in 1984, Aarti Drugs Limited manufactures specialty chemicals and bulk drugs.
The company manufactures over 40 products comprising bulk actives, key intermediates, and specialty chemicals. Its product portfolio includes anti-biotic, anti-protozoal, anti-inflammatory, anti-fungal, anti-diabetic, cardio-protectant, vitamins, anti-arthritis, and sedative therapeutic groups that help in lifesaving and lifestyle-related diseases.
Aarti Drugs has nine manufacturing units located at Tarapur (Maharashtra) and two manufacturing units located at Sarigam (Gujarat), most of them being GMP certified. The company exports its products to over 100 countries worldwide. The Company has also got approvals from various authorities such as WHO-GMP, ACCREDITATION from JAPAN, IDL China, ANVISA, TGA Australia, COFEPRIS, and COS.
The company recorded a total revenue of ₹2,71,824.75 lakhs, ₹2,49,996.17 lakhs, and ₹2,15,930.50 lakhs in 2023, 2022, and 2021 respectively.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2023 | 492.95 | 437.35 | 460.04 |
| May-2023 | 478.25 | 423.00 | 452.48 |
| Apr-2023 | 436.00 | 336.05 | 407.57 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2023 | 493.00 | 439.10 | 459.93 |
| May-2023 | 478.00 | 422.85 | 452.23 |
| Apr-2023 | 436.00 | 336.00 | 407.91 |
The Buy Back is being proposed by the Company to fulfill the following objectives:
Aarti Drugs Ltd.
Plot No. – N-198,
MIDC, Tarapur,
Tal - Palghar, Dist. Palghar - 401506
Palghar, Maharashtra, 401506
Lead Manager(s)
Registered Broker
The Aarti Drugs Buyback 2023 opens on August 9, 2023, and closes on August 17, 2023.
Last date to be eligible to participate in buyback is August 3, 2023.
The Aarti Drugs Buyback 2023 is a Tender Offer.
Aarti Drugs Buyback 2023 Schedule
| Buyback Opening Date | August 9, 2023 |
| Buyback Closing Date | August 17, 2023 |
| Last Date for receipt of Tender Forms | August 17, 2023 |
| Finalisation of Buyback Acceptance | August 23, 2023 |
| Last Date for settlment of bids | August 24, 2023 |
| Last Date for Extinguishment of Shares | September 4, 2023 |
The Aarti Drugs Buyback 2023 is being offered at Rs ₹900 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares out of every 157 Fully paid-up Equity Shares held on the Record Date. | 99,750.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 150 Fully paid-up Equity Shares held on the Record Date. | 565,250.00 |
The issue size of Aarti Drugs Buyback 2023 is 6,65,000 equity shares at ₹900 per share aggregating up to ₹59.85 Crores.
The Buy Back is being proposed by the Company to fulfill the following objectives:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Aarti Drugs Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
