Tender Offer | ₹59.85 Crores | Listed at BSE, NSE | Wed, Sep 11, 2024 - Thu, Sep 19, 2024
Aarti Drugs Ltd. Buyback is a tender offer for the repurchase of up to 0.07 crore equity shares, representing 0.72% of the total paid-up equity share capital 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 Sep 5, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 11, 2024 and closes on Sep 19, 2024, with the last date for receipt of tender forms being Sep 19, 2024.
The finalisation of buyback acceptance is expected on Sep 25, 2024, followed by settlement of bids on Sep 26, 2024.
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, Sep 11, 2024
Offer Closing Date
Thu, Sep 19, 2024
Buyback Price
₹900 per share
Record Date
September 5, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 706 Fully paid-up Equity Shares held on the Record Date. | 99,750 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 744 Fully paid-up Equity Shares held on the Record Date. | 5,65,250 |
Aarti Drugs Ltd.'s revenue decreased by -7% and profit after tax (PAT) rose by 3% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 2,421.4 | 2,207.96 | 1,766.01 | |||||||||||||||||||||||||||||||||||||
| Revenue | 2,532.61 | 2,718.25 | 2,499.96 | 2,159.31 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 171.59 | 166.36 | 205 | 280.4 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,262.07 | 1,173.69 | 1,016.62 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Aarti Drugs Limited was founded in 1984 and manufactures specialty chemicals and bulk drugs.
The company manufactures over 40 products including bulk APIs, key intermediates and specialty chemicals. The product portfolio includes antibiotic, antiprotozoal, anti-inflammatory, antifungal, antidiabetic, cardio-protective, vitamins, anti-arthritic and sedative therapeutic groups that help in life-saving and lifestyle-related diseases.
Aarti Drugs has 13 manufacturing facilities, of which 10 are located in Tarapur, Maharashtra; 2 in Sarigam, Gujarat and 1 in Saykha, Gujarat. The company's research and development center is located in Palghar, Maharashtra. The company exports its products to over 100 countries worldwide. The company has also received approvals from various authorities such as WHO-GMP, EUGMP, ACCRIDATION from JAPAN, IDL, ANVISA, ISO, TGA Australia, COFEPRIS and COS.
The company recorded a total revenue of Rs 2,53,260.65 lakhs, Rs. 2,71,824.75 lakhs, and Rs. 2,49,996.17 lakhs in 2024, 2023, and 2022 respectively.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 563.95 | 500.05 | 529.89 |
| Jun-2024 | 538.90 | 450.20 | 507.91 |
| May-2024 | 508.85 | 453.60 | 483.92 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 563.20 | 500.00 | 530.05 |
| Jun-2024 | 538.95 | 451.05 | 508.13 |
| May-2024 | 508.95 | 456.00 | 484.25 |
The Company is proposing the Buyback to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholder's value and the Buyback would result in amongst other things:
Aarti Drugs Ltd.
Plot No N-198
MIDC, Tarapura
Tal-Palghar, Dist Palghar-401506
Palghar, Maharashtra, 401506
Lead Manager(s)
Registered Broker
The Aarti Drugs Buyback 2024 opens on September 11, 2024, and closes on September 19, 2024.
Last date to be eligible to participate in buyback is September 4, 2024.
The Aarti Drugs Buyback 2024 is a Tender Offer.
Aarti Drugs Buyback 2024 Schedule
| Buyback Opening Date | September 11, 2024 |
| Buyback Closing Date | September 19, 2024 |
| Last Date for receipt of Tender Forms | September 19, 2024 |
| Finalisation of Buyback Acceptance | September 25, 2024 |
| Last Date for settlment of bids | September 26, 2024 |
| Last Date for Extinguishment of Shares | October 8, 2024 |
The Aarti Drugs Buyback 2024 is being offered at Rs ₹900 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 706 Fully paid-up Equity Shares held on the Record Date. | 99,750 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 744 Fully paid-up Equity Shares held on the Record Date. | 5,65,250 |
The issue size of Aarti Drugs Buyback 2024 is 6,65,000 equity shares at ₹900 per share aggregating up to ₹59.85 Crores.
The Company is proposing the Buyback to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholder's value and the Buyback would result in amongst other things:
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 2024 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.
