Tender Offer | ₹315.00 Crores | Listed at BSE, NSE | Fri, Mar 31, 2023 - Mon, Apr 10, 2023
Ajanta Pharma Ltd. Buyback is a tender offer for the repurchase of up to 0.22 crore equity shares at a buyback price of ₹1425 per share with a face value of ₹2 per share, aggregating to ₹315.00 crores.
The record date for determining eligible shareholders is Mar 24, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 31, 2023 and closes on Apr 10, 2023, with the last date for receipt of tender forms being Apr 10, 2023.
The finalisation of buyback acceptance is expected on Apr 13, 2023, followed by settlement of bids on Apr 18, 2023.
Edelweiss Financial Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Nuvama Wealth Management Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Ajanta Pharma Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Mar 31, 2023
Offer Closing Date
Mon, Apr 10, 2023
Buyback Price
₹1425 per share
Record Date
March 24, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 20 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date. | 331,575.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 202 Fully paid-up Equity Shares held on the Record Date. | 1,878,925.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 2,680.06 | 467.70 | |
| 31-Mar-21 | 3,778.72 | 2,915.67 | 653.87 |
| 31-Mar-22 | 4,055.58 | 3,456.67 | 712.68 |
| Amount in ₹ Crore | |||
Incorporated in 1979, Ajanta Pharma Limited is a specialty pharmaceutical company offering quality medicines across more than 30 countries in the world.
The company understands its customers' requirements and develops products to suit their needs with the help of cutting-edge technology to present innovative solutions.
The business of Ajanta Pharma includes Branded Generics in India and Emerging Markets in Asia and Africa; Generics in the USA; and Institution Sales in Africa. With diversified revenue streams, their business model is highly scalable and sustainable.
Ajanta Pharma operates through its 7 state-of-the-art manufacturing facilities situated in India. 6 of the company's facilities manufacture finished formulations and 1 manufactures Active Pharmaceutical Ingredients (APIs) primarily for captive consumption. The high-quality medicines of the company are trusted by healthcare professionals and patients in over 30 countries.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 1,252.00 | 4,523.00 | 1,197.49 |
| Jan-2023 | 1,222.90 | 3,168.00 | 1,186.12 |
| Dec-2022 | 1,272.00 | 1,192.00 | 1,210.90 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 1,254.00 | 1,151.35 | 1,198.12 |
| Jan-2023 | 1,224.00 | 1,150.00 | 1,186.49 |
| Dec-2022 | 1,266.25 | 1,150.25 | 1,210.19 |
The buyback is being undertaken for the following reasons:
Ajanta Pharma Ltd.
Ajanta House, Charkop,
Kandivali West,
Mumbai 400 067
Mumbai, Maharashtra, 400067
Lead Manager(s)
Registered Broker
The Ajanta Pharma Buyback 2023 opens on March 31, 2023, and closes on April 10, 2023.
Last date to be eligible to participate in buyback is March 23, 2023.
The Ajanta Pharma Buyback 2023 is a Tender Offer.
Ajanta Pharma Buyback 2023 Schedule
| Buyback Opening Date | March 31, 2023 |
| Buyback Closing Date | April 10, 2023 |
| Last Date for receipt of Tender Forms | April 10, 2023 |
| Finalisation of Buyback Acceptance | April 13, 2023 |
| Last Date for settlment of bids | April 18, 2023 |
| Last Date for Extinguishment of Shares | April 27, 2023 |
The Ajanta Pharma Buyback 2023 is being offered at Rs ₹1425 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 20 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date. | 331,575.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 202 Fully paid-up Equity Shares held on the Record Date. | 1,878,925.00 |
The issue size of Ajanta Pharma Buyback 2023 is 22,10,500 equity shares at ₹1425 per share aggregating up to ₹315.00 Crores.
The buyback is being undertaken for the following reasons:
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 Ajanta Pharma 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.
