Axita Cotton Limited Buyback (Axita Cotton Buyback 2023) Detail

Last date to be eligible to participate in buyback is Jun 1, 2023.

The Axita Cotton Buyback 2023 is a Tender Offer.

The Axita Cotton Buyback 2023 is being offered at Rs ₹56 per share per equity share.

The record date for the Axita Cotton Buyback 2023 is Jun 2, 2023.

The issue size of Axita Cotton Buyback 2023 is of 900,000.00 equity shares at ₹56 per share aggregating upto ₹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.

Letter of Offer

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.