Tender Offer | ₹7.02 Crores | Listed at BSE | Thu, Sep 12, 2024 - Thu, Sep 19, 2024
Arex Industries Ltd. Buyback is a tender offer for the repurchase of up to 0.04 crore equity shares at a buyback price of ₹195 per share with a face value of ₹10 per share, aggregating to ₹7.02 crores.
The record date for determining eligible shareholders is Sep 7, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 12, 2024 and closes on Sep 19, 2024, with the last date for receipt of tender forms being Sep 19, 2024.
The finalisation of buyback acceptance is expected on Sep 26, 2024, followed by settlement of bids on Sep 26, 2024.
Interactive Financial Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and NNM Securities Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Arex Industries Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Sep 12, 2024
Offer Closing Date
Thu, Sep 19, 2024
Buyback Price
₹195 per share
Record Date
September 7, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 127 Equity Shares out of every 753 Fully paid-up Equity Shares held on the Record Date. | 54,000 |
| General Category for all other Eligible Shareholders | 64 Equity Shares out of every 761 Fully paid-up Equity Shares held on the Record Date. | 3,06,000 |
Arex Industries Ltd.'s revenue increased by 13% and profit after tax (PAT) rose by 263% 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 | 52.69 | 58.45 | ||||||||||||||||||||||||||||
| Revenue | 51.1 | 45.16 | 53.82 | |||||||||||||||||||||||||||
| Profit After Tax | 2.54 | 0.7 | 3.7 | |||||||||||||||||||||||||||
| Net Worth | 31.61 | 29.07 | 28.37 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Arex Industries Limited produces and exports high-quality narrow woven fabrics and related textile products for customers in both local and global markets.
The product portfolio of the company includes the following
(a) Narrow Woven Fabrics:Arex Industries makes narrow woven fabrics for clothing, cars, and medical use.
(b) Elastic Tapes and Webbings:The company manufactures a variety of elastic tapes and webbings to meet specific client needs.
(c) Customized Textile Solutions:Arex Industries customizes solutions to meet clients' unique needs, ensuring high customer satisfaction.
Arex Industries has modern manufacturing facilities with advanced technology, ensuring high-quality standards. They have a significant presence in both domestic and international markets, allowing them to serve a diverse range of clients. The company has received awards for its commitment to quality and innovation and is a leading exporter of narrow-woven fabrics. Arex Industries continues to invest in research and development to meet the evolving needs of its customers.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2024 | 198.50 | 160.00 | 185.33 |
| Jul-2024 | 159.70 | 140.10 | 149.84 |
| Jun-2024 | 163.00 | 137.35 | 150.73 |
The Buyback is being undertaken for the following reasons:
Arex Industries Ltd.
612,GLD.C. Estate,
Chhatral, Tal. Kalol
Dist. Gandhinagar-382729
Gandhinagar, Gujarat, 382729
Lead Manager(s)
Registered Broker
The Arex Industries Buyback 2024 opens on September 12, 2024, and closes on September 19, 2024.
Last date to be eligible to participate in buyback is September 5, 2024.
The Arex Industries Buyback 2024 is a Tender Offer.
Arex Industries Buyback 2024 Schedule
| Buyback Opening Date | September 12, 2024 |
| Buyback Closing Date | September 19, 2024 |
| Last Date for receipt of Tender Forms | September 19, 2024 |
| Finalisation of Buyback Acceptance | September 26, 2024 |
| Last Date for settlment of bids | September 26, 2024 |
| Last Date for Extinguishment of Shares | October 7, 2024 |
The Arex Industries Buyback 2024 is being offered at Rs ₹195 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 127 Equity Shares out of every 753 Fully paid-up Equity Shares held on the Record Date. | 54,000 |
| General Category for all other Eligible Shareholders | 64 Equity Shares out of every 761 Fully paid-up Equity Shares held on the Record Date. | 3,06,000 |
The issue size of Arex Industries Buyback 2024 is 3,60,000 equity shares at ₹195 per share aggregating up to ₹7.02 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 Arex Industries 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.
