Tender Offer | ₹9.60 Crores | Listed at BSE, NSE | Wed, Jun 22, 2022 - Tue, Jul 5, 2022
Asahi Songwon Colors Ltd. Buyback is a tender offer for the repurchase of up to 0.02 crore equity shares at a buyback price of ₹400 per share with a face value of ₹10 per share, aggregating to ₹9.60 crores.
The record date for determining eligible shareholders is Jun 3, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 22, 2022 and closes on Jul 5, 2022, with the last date for receipt of tender forms being Jul 5, 2022.
The finalisation of buyback acceptance is expected on Jul 12, 2022, followed by settlement of bids on Jul 13, 2022.
Systematix Corporate Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Systematix Shares and Stocks (India) Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Asahi Songwon Colors Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Jun 22, 2022
Offer Closing Date
Tue, Jul 5, 2022
Buyback Price
₹400 per share
Record Date
June 3, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 4 Equity Share out of every 119 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 17 Equity Shares out of every 913 Fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Income | 41,626.44 | 28,339.04 | 28,442.40 |
| Profit After Tax | 1,465.07 | 3,194.62 | 2,282.63 |
| Net Worth | 24,237.49 | 22,722.48 | 20,945.02 |
| Reserves and Surplus | 23,034.76 | 21,519.75 | 19,717.79 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2022 | 346.45 | 277.05 | 308.18 |
| Apr-2022 | 309.35 | 257.25 | 276.02 |
| Mar-2022 | 309.55 | 226.00 | 268.69 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2022 | 325.00 | 275.55 | 295.72 |
| Apr-2022 | 348.00 | 278.00 | 307.95 |
| Mar-2022 | 309.00 | 255.00 | 275.91 |
The buyback is being undertaken for the following reasons:
1. The Buyback would help in improving its return on equity, by reducing the equity base, thereby leading to a long term increase in shareholders' value.
2. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
Asahi Songwon Colors Ltd.
“Asahi House” 13, Aaryans Corporate Park,
Near Shilaj Railway Crossing,
Thaltej - Shilaj road, Thaltej, Ahmedabad, 380059
Ahmedabad, Gujarat, 380059
Lead Manager(s)
Registered Broker
The Asahi Songwon Colors Buyback opens on June 22, 2022, and closes on July 5, 2022.
The Asahi Songwon Colors Buyback last day to buy is not available as of now.
The Asahi Songwon Colors Buyback is a Tender Offer.
Asahi Songwon Colors Buyback Schedule
| Buyback Opening Date | June 22, 2022 |
| Buyback Closing Date | July 5, 2022 |
| Last Date for receipt of Tender Forms | July 5, 2022 |
| Finalisation of Buyback Acceptance | July 12, 2022 |
| Last Date for settlment of bids | July 13, 2022 |
| Last Date for Extinguishment of Shares | July 20, 2022 |
The Asahi Songwon Colors Buyback is being offered at Rs ₹400 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 4 Equity Share out of every 119 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 17 Equity Shares out of every 913 Fully paid-up Equity Shares held on the Record Date. |
The issue size of Asahi Songwon Colors Buyback is 2,40,000 equity shares at ₹400 per share aggregating up to ₹9.60 Crores.
The buyback is being undertaken for the following reasons:
1. The Buyback would help in improving its return on equity, by reducing the equity base, thereby leading to a long term increase in shareholders' value.
2. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
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 Asahi Songwon Colors 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.
