Tender Offer | ₹285.00 Crores | Listed at BSE, NSE | Wed, Jun 5, 2024 - Tue, Jun 11, 2024
Ajanta Pharma Ltd. Buyback is a tender offer for the repurchase of up to 0.10 crore equity shares, representing 0.82% of the total paid-up equity share capital at a buyback price of ₹2770 per share with a face value of ₹2 per share, aggregating to ₹285.00 crores.
The record date for determining eligible shareholders is May 30, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 5, 2024 and closes on Jun 11, 2024, with the last date for receipt of tender forms being Jun 11, 2024.
The finalisation of buyback acceptance is expected on Jun 18, 2024, followed by settlement of bids on Jun 19, 2024.
Vivro Financial Services Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Pravin Ratilal Share And Stock Brokers 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
Wed, Jun 5, 2024
Offer Closing Date
Tue, Jun 11, 2024
Buyback Price
₹2770 per share
Record Date
May 30, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 8 Fully paid-up Equity Shares held on the Record Date. | 154,333.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 128 Fully paid-up Equity Shares held on the Record Date. | 874,548.00 |
Ajanta Pharma Limited's revenue increased by 11.77% and profit after tax (PAT) rose by 38.81% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 4,638.39 | 4,679.02 | |
| Revenue | 4,293.31 | 3,841.28 | 3,456.67 |
| Profit After Tax | 816.17 | 587.98 | 712.68 |
| Amount in ₹ Crore | |||
Incorporated in December 1979, Ajanta Pharma Limited develops, manufactures and markets specialty pharmaceutical formulations.
The Company has seven manufacturing facilities in India, two of which have been approved by the US FDA. Additionally, the Company has a research and development centre for active pharmaceutical ingredient synthesis and finished formulations.
The company does business in three areas:
The company supplies its products to more than 30 countries.
Ajanta Pharma employs over 7,700 people from more than 30 countries worldwide.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2024 | 2,531.95 | 2,210.05 | 2,305.05 |
| Apr-2024 | 2,309.00 | 2,049.75 | 2,155.84 |
| Mar-2024 | 2,307.05 | 2,003.55 | 2,125.08 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2024 | 2,540.00 | 2,210.00 | 2,308.93 |
| Apr-2024 | 2,311.95 | 2,051.60 | 2,156.03 |
| Mar-2024 | 2,317.65 | 1,998.35 | 2,127.73 |
Buyback is being undertaken, inter-alia, for the following reasons:
Ajanta Pharma Ltd.
Ajanta House’, 98 Govt Industrial Area,
Charkop, Kandivli (West),
Mumbai - 400 067
Mumbai, Maharashtra, 400067
Lead Manager(s)
Registered Broker
The Ajanta Pharma Buyback 2024 opens on June 5, 2024, and closes on June 11, 2024.
Last date to be eligible to participate in buyback is May 29, 2024.
The Ajanta Pharma Buyback 2024 is a Tender Offer.
Ajanta Pharma Buyback 2024 Schedule
| Buyback Opening Date | June 5, 2024 |
| Buyback Closing Date | June 11, 2024 |
| Last Date for receipt of Tender Forms | June 11, 2024 |
| Finalisation of Buyback Acceptance | June 18, 2024 |
| Last Date for settlment of bids | June 19, 2024 |
| Last Date for Extinguishment of Shares | June 28, 2024 |
The Ajanta Pharma Buyback 2024 is being offered at Rs ₹2770 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 8 Fully paid-up Equity Shares held on the Record Date. | 154,333.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 128 Fully paid-up Equity Shares held on the Record Date. | 874,548.00 |
The issue size of Ajanta Pharma Buyback 2024 is 10,28,881 equity shares at ₹2770 per share aggregating up to ₹285.00 Crores.
Buyback is being undertaken, inter-alia, 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 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.
