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Abirami Financial Services (India) Limited Buyback (Abirami Financial Services Buyback 2023) Detail

Incorporated in 1993, Abirami Financial Services (India) Limited is engaged in the business of Hire purchase, Leasing, and Lending Money against Securities, Movable and immovable properties.

Abirami Financial Services primarily operates from Chennai, Tamil Nadu, and offers its facilities to customers with varied requirements.

The company is promoted by Mr. K. V. Aiyappan, Mrs. Abiraami Arunachalam, and Mr. Teckchand H. Vaswani. The equity shares of the company are listed on BSE.

Over the decades of its operations, Abirami Financial Services has attained numerous benchmarks and is growing at a consistent pace in terms of its financial aspects and overall operations.

Abirami Financial Services Buyback 2023 Detail

Issue Period
Security NameAbirami Financial Services (India) Limited
Issue TypeTender Offer
Issue Size (Shares)600,000.00
Issue Size (Amount)₹1.68 Crores
Buyback Price₹28 per share
Face Value₹10 per share
Listing AtBSE

Abirami Financial Services Buyback 2023 Issue Timetable

Last Date to buy sharesJan 24, 2023
Record DateJan 27, 2023
Offer Opens On
Last Date for receipt of Tender Forms
Offer Closes On
Finalisation of Buyback Acceptance
Last Date for settlment of bids
Last Date for Extinguishment of Shares

Buyback Ratio

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Company Financials

Abirami Financial Services (India) Limited Financial Information (Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-208.170.690.16
31-Mar-2180.51-0.12
31-Mar-227.820.46-0.19
Amount in ₹ Crore

Necessity of the Issue

The proposed buy-back is being undertaken, inter-alia for the following reasons:

  1. The buy-back will help the company to return surplus cash to its shareholders holding equity shares broadly in the proportion of their shareholding, thereby, enhancing the overall return to the shareholders,
  2. The buy-back may help in improving return on equity due to a reduction in the equity base, thereby leading to a long-term increase in shareholders' value, and
  3. The buy-back gives an option to the shareholders holding equity shares of the company, to either choose to participate and get cash-in-lieu of equity shares or choose to not participate and enjoy a resultant increase in their percentage shareholding.

Abirami Financial Services Buyback 2023 Documents

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Company Contact Information

Abirami Financial Services (India) Limited
Old No. 11, New No. 2,
Parthasarathypuram, 2nd Street, T.Nagar,
Chennai- 600017

Phone: +91 44 24356224
Email: info@afslindia.in
Website: http://www.afslindia.com/

Abirami Financial Services Buyback 2023 Registrar

  1. Cameo Corporate Services Limited
       Cameo Corporate Services Ltd.,
       Subramanian Building # 1, Club House Road,
       Chennai 600 002 - India

    Phone: +91-44-28460390
    Email: cameo@cameoindia.com
    Website: https://ipo.cameoindia.com/

Abirami Financial Services Buyback 2023 Manager

Lead Manager(s)

Registered Broker

  1. Nikunj Stock Brokers Limited
    Email: complianceofficer@nikunjonline.com

Find Abirami Financial Services Buyback 2023 Latest Update

Abirami Financial Services Buyback 2023 FAQs

The Abirami Financial Services Buyback 2023 open and close dates are not available as of now.

Last date to be eligible to participate in buyback is Jan 24, 2023.

The Abirami Financial Services Buyback 2023 is a Tender Offer.

Sorry the Abirami Financial Services Buyback 2023 timelines are not available at this time.

The Abirami Financial Services Buyback 2023 is being offered at Rs ₹28 per share per equity share.

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You could sell Abirami Financial Services Buyback 2023 on Jan 26, 2023 to remain eligible for buyback. The record date for Abirami Financial Services Buyback 2023 buyback is Jan 27, 2023.

The record date for the Abirami Financial Services Buyback 2023 is Jan 27, 2023.

The issue size of Abirami Financial Services Buyback 2023 is of 600,000.00 equity shares at ₹28 per share aggregating upto ₹1.68 Crores.

The proposed buy-back is being undertaken, inter-alia for the following reasons:

  1. The buy-back will help the company to return surplus cash to its shareholders holding equity shares broadly in the proportion of their shareholding, thereby, enhancing the overall return to the shareholders,
  2. The buy-back may help in improving return on equity due to a reduction in the equity base, thereby leading to a long-term increase in shareholders' value, and
  3. The buy-back gives an option to the shareholders holding equity shares of the company, to either choose to participate and get cash-in-lieu of equity shares or choose to not participate and enjoy a resultant increase in their percentage shareholding.

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 Abirami Financial Services 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.


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