Tender Offer | ₹5.04 Crores | Listed at BSE, NSE | Thu, Jun 8, 2023 - Wed, Jun 14, 2023
Axita Cotton Ltd. Buyback is a tender offer for the repurchase of up to 0.09 crore equity shares at a buyback price of ₹56 per share with a face value of ₹1 per share, aggregating to ₹5.04 crores.
The record date for determining eligible shareholders is Jun 2, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 8, 2023 and closes on Jun 14, 2023, with the last date for receipt of tender forms being Jun 14, 2023.
The finalisation of buyback acceptance is expected on Jun 21, 2023, followed by settlement of bids on Jun 21, 2023.
Beeline Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Skyline Financial Services Pvt.Ltd. is the Registrar and Sunflower Broking Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Axita Cotton Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Jun 8, 2023
Offer Closing Date
Wed, Jun 14, 2023
Buyback Price
₹56 per share
Record Date
June 2, 2023
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-21 | 107.23 | 618.94 | 3.73 | 21.82 |
| 31-Mar-22 | 109.10 | 830.46 | 15.41 | 36.26 |
| 31-Mar-23 | 557.62 | 17.04 | 52.37 | |
| Amount in ₹ Crore | ||||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2023 | 83.00 | 55.96 | 71.62 |
| Mar-2023 | 58.43 | 50.60 | 52.35 |
| Feb-2023 | 69.60 | 50.05 | 61.89 |
The buyback is a capital allocation decision taken by the company. The buyback will help the company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in the longer term, and improving the return on equity.
Axita Cotton Ltd.
Servey No. 324 357 358,
Kadi Thol Road Borisana Kadi
Mahesana- 382715
Mahesana, Gujarat, 382715
Lead Manager(s)
Registered Broker
The Axita Cotton Buyback 2023 opens on June 8, 2023, and closes on June 14, 2023.
Last date to be eligible to participate in buyback is June 1, 2023.
The Axita Cotton Buyback 2023 is a Tender Offer.
Axita Cotton Buyback 2023 Schedule
| Buyback Opening Date | June 8, 2023 |
| Buyback Closing Date | June 14, 2023 |
| Last Date for receipt of Tender Forms | June 14, 2023 |
| Finalisation of Buyback Acceptance | June 21, 2023 |
| Last Date for settlment of bids | June 21, 2023 |
| Last Date for Extinguishment of Shares | July 3, 2023 |
The Axita Cotton Buyback 2023 is being offered at Rs ₹56 per share.
The issue size of Axita Cotton Buyback 2023 is 9,00,000 equity shares at ₹56 per share aggregating up to ₹5.04 Crores.
The buyback is a capital allocation decision taken by the company. The buyback will help the company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in the longer term, and improving the return on equity.
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 Axita Cotton Buyback 2023 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.
