Tender Offer | ₹750.00 Crores | Listed at BSE, NSE | Mon, Aug 5, 2024 - Fri, Aug 9, 2024
Aurobindo Pharma Ltd. Buyback is a tender offer for the repurchase of up to 0.51 crore equity shares, representing 0.88% of the total paid-up equity share capital at a buyback price of ₹1460 per share with a face value of ₹1 per share, aggregating to ₹750.00 crores.
The record date for determining eligible shareholders is Jul 30, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 5, 2024 and closes on Aug 9, 2024, with the last date for receipt of tender forms being Aug 9, 2024.
The finalisation of buyback acceptance is expected on Aug 16, 2024, followed by settlement of bids on Aug 19, 2024.
Axis Capital Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Axis Capital Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Aurobindo Pharma Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Aug 5, 2024
Offer Closing Date
Fri, Aug 9, 2024
Buyback Price
₹1460 per share
Record Date
July 30, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 41 Fully paid-up Equity Shares held on the Record Date. | 770,548.00 |
| General Category for all other Eligible Shareholders | 4 Equity Shares out of every 531 Fully paid-up Equity Shares held on the Record Date. | 4,366,438.00 |
Aurobindo Pharma Limited's revenue increased by 17.55% and profit after tax (PAT) rose by 64.4% 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 | 39,889.99 | 33,921.72 | |
| Revenue | 29,559.25 | 25,145.97 | 23,775.84 |
| Profit After Tax | 3,168.97 | 1,927.65 | 2,647.11 |
| Net Worth | 28,091.06 | 25,200.04 | 23,808.63 |
| Amount in ₹ Crore | |||
Founded in 1986, Aurobindo Pharma is a manufacturer of active pharmaceutical ingredients (API) and formulation products in Pondicherry.
The company manufactures semi-synthetic penicillin (SSP), neuroscience (CNS), cardiovascular (CVS), antiretrovirals, antidiabetics, gastroenterology and antibiotics.
Aurobindo has a multi-product portfolio with manufacturing facilities in several countries. The company generated revenues of USD 2.6 billion in the financial year 2017-18. Aurobindo's 11 API/intermediates units and 15 formulations units (10 in India, 3 in the US, 1 in Brazil and 1 in Portugal) are designed to cater to the needs of both advanced and emerging markets.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 1,292.15 | 1,109.30 | 1,234.59 |
| May-2024 | 1,245.60 | 1,097.50 | 1,178.74 |
| Apr-2024 | 1,175.60 | 1,066.05 | 1,111.79 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 1,292.10 | 1,109.45 | 1,234.50 |
| May-2024 | 1,245.70 | 1,097.10 | 1,178.86 |
| Apr-2024 | 1,175.80 | 1,069.30 | 1,112.03 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Aurobindo Pharma Ltd.
Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1,
Hyderabad Knowledge City, Raidurg Panmaktha,
Ranga Reddy District, Hyderabad – 500 032
Hyderabad, Telangana, 500032
Lead Manager(s)
Registered Broker
The Aurobindo Pharma Buyback 2024 opens on August 5, 2024, and closes on August 9, 2024.
Last date to be eligible to participate in buyback is July 29, 2024.
The Aurobindo Pharma Buyback 2024 is a Tender Offer.
Aurobindo Pharma Buyback 2024 Schedule
| Buyback Opening Date | August 5, 2024 |
| Buyback Closing Date | August 9, 2024 |
| Last Date for receipt of Tender Forms | August 9, 2024 |
| Finalisation of Buyback Acceptance | August 16, 2024 |
| Last Date for settlment of bids | August 19, 2024 |
| Last Date for Extinguishment of Shares | August 28, 2024 |
The Aurobindo Pharma Buyback 2024 is being offered at Rs ₹1460 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 41 Fully paid-up Equity Shares held on the Record Date. | 770,548.00 |
| General Category for all other Eligible Shareholders | 4 Equity Shares out of every 531 Fully paid-up Equity Shares held on the Record Date. | 4,366,438.00 |
The issue size of Aurobindo Pharma Buyback 2024 is 51,36,986 equity shares at ₹1460 per share aggregating up to ₹750.00 Crores.
The Buy-Back 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 Aurobindo 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.
