Tender Offer | ₹10.00 Crores | Listed at BSE, NSE | Wed, Dec 8, 2021 - Tue, Dec 21, 2021
AksharChem (India) Ltd. Buyback is a tender offer for the repurchase of up to 0.02 crore equity shares at a buyback price of ₹590 per share with a face value of ₹10 per share, aggregating to ₹10.00 crores.
The record date for determining eligible shareholders is Nov 12, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Dec 8, 2021 and closes on Dec 21, 2021, with the last date for receipt of tender forms being Dec 21, 2021.
The finalisation of buyback acceptance is expected on Dec 29, 2021, followed by settlement of bids on Dec 30, 2021.
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 AksharChem (India) Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Dec 8, 2021
Offer Closing Date
Tue, Dec 21, 2021
Buyback Price
₹590 per share
Record Date
November 12, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 563 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 17 Equity Shares out of every 838 fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 1,789.62 | 2,476.11 | 2,611.97 | 3,282.32 |
| Profit After Tax | 79.97 | 125.00 | 157.22 | 225.89 |
| Reserves & Surplus | 2,756.18 | 2,705.19 | 2,571.09 | 2,489.99 |
| Net Worth | 2,883.21 | 2,787.22 | 2,653.12 | 2,572.02 |
Incorporated in 1989, AksharChem India is engaged in the business of dyes and pigments manufacturing. The company products include Vinyl Sulphone, CPC Green, and precipitated Silica that gets used as an ingredient across various End industries like Textiles, Paint, Rubber, Tyre, Plastics, Leather, and Printing Ink.
AksharChem is one of India's top exporters of Vinyl Sulphone and the world's leading manufacturer of CPC Green with a total manufacturing capacity of 11,400 metric tonnes per annum. AksharChem is an ISO-certified company with an experienced senior leadership of over 30 years.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 613.50 | 406.25 | 509.17 |
| Sep-2021 | 469.00 | 399.25 | 425.43 |
| Aug-2021 | 490.00 | 386.10 | 435.56 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 613.70 | 404.30 | 508.70 |
| Sep-2021 | 468.00 | 399.10 | 425.24 |
| Aug-2021 | 490.00 | 385.00 | 436.17 |
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
AksharChem (India) Ltd.
“Akshar House”,
Chhatral - Kadi Road, Indrad,
Mahesana – 382715, Gujarat, India.
Mahesana, Gujarat, 382715
Lead Manager(s)
Registered Broker
The AksharChem India Buyback opens on December 8, 2021, and closes on December 21, 2021.
The AksharChem India Buyback last day to buy is not available as of now.
The AksharChem India Buyback is a Tender Offer.
AksharChem India Buyback Schedule
| Buyback Opening Date | December 8, 2021 |
| Buyback Closing Date | December 21, 2021 |
| Last Date for receipt of Tender Forms | December 21, 2021 |
| Finalisation of Buyback Acceptance | December 29, 2021 |
| Last Date for settlment of bids | December 30, 2021 |
| Last Date for Extinguishment of Shares | January 6, 2022 |
The AksharChem India Buyback is being offered at Rs ₹590 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 563 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 17 Equity Shares out of every 838 fully paid-up Equity Shares held on the Record Date. |
The issue size of AksharChem India Buyback is 1,69,491 equity shares at ₹590 per share aggregating up to ₹10.00 Crores.
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
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 AksharChem India Buyback 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.
