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

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

The Abirami Financial Services Buyback 2023 is a Tender Offer.

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

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

The issue size of Abirami Financial Services Buyback 2023 is of 600,000 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.

Letter of Offer

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.