Tender Offer | ₹107.49 Crores | Listed at NSE | Fri, Mar 26, 2021 - Mon, Apr 12, 2021
Bharat Rasayan Ltd. Buyback is a tender offer for the repurchase of up to 0.01 crore equity shares at a buyback price of ₹11500 per share with a face value of ₹10 per share, aggregating to ₹107.49 crores.
The record date for determining eligible shareholders is Mar 5, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 26, 2021 and closes on Apr 12, 2021, with the last date for receipt of tender forms being Apr 14, 2021.
The finalisation of buyback acceptance is expected on Apr 20, 2021, followed by settlement of bids on Apr 22, 2021.
Corporate Professionals Capital Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and SMC Global Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Bharat Rasayan Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Mar 26, 2021
Offer Closing Date
Mon, Apr 12, 2021
Buyback Price
₹11500 per share
Record Date
March 5, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 12 Equity Shares out of every 79 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 19 Equity Shares out of every 994 fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 12,318.70 | 9,946.87 | 8,130.16 |
| Profit After Tax | 1,576.42 | 1,115.24 | 983.14 |
| Net Worth | 5,641.19 | 4,088.07 | 2,982.46 |
Incorporated in 1989 as a Public Limited Company, Bharat Rasayan Limited (BRL) an ISO 9001:2008 and ISO 14001:2004 certified Company.
It belongs to the Agrochemicals Industry in India. It manufactures Technical Grade Pesticides and Intermediates conforming to International Standards.
The company has two production units. Unit 1 is located in Mokhra village of Rohtak district in Haryana, with a manufacturing capacity of 4260 MT per annum. It facilitates the bulk packaging of formulations. Unit 2 is located at Chemical Approved Economic Zone at Dahej in Gujarat. It manufactures Technical grade pesticides, intermediates, and bulk formulations. Commissioning of the Gujarat plant has enhanced the company's total annual capacity to over 33,000 MT.
Both units have in-house R&D laboratories to ensure consistent quality and act as pilot plants for new products and formulations. The Ministry of Science & Technology has recognized these testing facilities at BRL.
The company became a major stakeholder in the Tata-owned Siris Crop Sciences Ltd. and even acquired it in due course.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 10,758.00 | 9,386.00 | 10,207.92 |
| Dec-2020 | 10,190.00 | 8,700.00 | 9,651.52 |
| Nov-2020 | 9,900.00 | 8,500.00 | 9,115.15 |
The Buy-back is being undertaken by the Company to:
i) To return surplus funds to the Equity Shareholders; and
ii) To help improve financial ratios like earnings per share and return on equity, by reducing the equity base of the Company.
Bharat Rasayan Ltd.
1501, Vikram Tower,
Rajendra Place,
New Delhi – 110008
New Delhi, New Delhi, 110008
Lead Manager(s)
Registered Broker
The Bharat Rasayan Buyback opens on March 26, 2021, and closes on April 12, 2021.
The Bharat Rasayan Buyback last day to buy is not available as of now.
The Bharat Rasayan Buyback is a Tender Offer.
Bharat Rasayan Buyback Schedule
| Buyback Opening Date | March 26, 2021 |
| Buyback Closing Date | April 12, 2021 |
| Last Date for receipt of Tender Forms | April 14, 2021 |
| Finalisation of Buyback Acceptance | April 20, 2021 |
| Last Date for settlment of bids | April 22, 2021 |
| Last Date for Extinguishment of Shares | April 29, 2021 |
The Bharat Rasayan Buyback is being offered at Rs ₹11500 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 12 Equity Shares out of every 79 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 19 Equity Shares out of every 994 fully paid-up Equity Shares held on the Record Date. |
The issue size of Bharat Rasayan Buyback is 93,472 equity shares at ₹11500 per share aggregating up to ₹107.49 Crores.
The Buy-back is being undertaken by the Company to:
i) To return surplus funds to the Equity Shareholders; and
ii) To help improve financial ratios like earnings per share and return on equity, by reducing the equity base of the Company.
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 Bharat Rasayan 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.
