Tender Offer | ₹390.00 Crores | Listed at BSE, NSE | Thu, Aug 11, 2022 - Fri, Aug 26, 2022
Birlasoft Ltd. Buyback is a tender offer for the repurchase of up to 0.78 crore equity shares at a buyback price of ₹500 per share with a face value of ₹2 per share, aggregating to ₹390.00 crores.
The record date for determining eligible shareholders is Jul 15, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 11, 2022 and closes on Aug 26, 2022, with the last date for receipt of tender forms being Aug 26, 2022.
The finalisation of buyback acceptance is expected on Sep 6, 2022, followed by settlement of bids on Sep 7, 2022.
Kotak Mahindra Capital Co.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Kotak Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Birlasoft Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 11, 2022
Offer Closing Date
Fri, Aug 26, 2022
Buyback Price
₹500 per share
Record Date
July 15, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 26 Equity Share out of every 557 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 26 Equity Shares out of every 557 Fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Million) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Income | 41,965.5 | 35,747 | 33,339.6 |
| Profit After Tax | 4,636.4 | 3,208.3 | 2,243.5 |
| Net Worth | 25,830.5 | 21,799.3 | 18,924.2 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2022 | 390.30 | 316.35 | 356.09 |
| May-2022 | 418.85 | 336.55 | 377.49 |
| Apr-2022 | 501.65 | 405.20 | 447.59 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2022 | 390.50 | 316.45 | 356.16 |
| May-2022 | 419.10 | 338.25 | 377.50 |
| Apr-2022 | 501.60 | 405.10 | 447.64 |
The buyback is being undertaken for the following reasons:
1. The Buyback will help the Company to distribute surplus cash to its members holding Equity Shares thereby enhancing the overall return for them.
2. The Buyback is generally expected to improve return on equity through the distribution of cash and improve earnings per share by the reduction in the equity base of the Company, thereby leading to a long-term increase in shareholders' value.
Birlasoft Ltd.
Plot No. 35 & 36,
Rajiv Gandhi Infotech Park, Phase 1,
MIDC, Hinjawadi, Pune 411 057
Jawad, Madhya Pradesh, 411057
Lead Manager(s)
Registered Broker
The Birlasoft Limited Buyback opens on August 11, 2022, and closes on August 26, 2022.
The Birlasoft Limited Buyback last day to buy is not available as of now.
The Birlasoft Limited Buyback is a Tender Offer.
Birlasoft Limited Buyback Schedule
| Buyback Opening Date | August 11, 2022 |
| Buyback Closing Date | August 26, 2022 |
| Last Date for receipt of Tender Forms | August 26, 2022 |
| Finalisation of Buyback Acceptance | September 6, 2022 |
| Last Date for settlment of bids | September 7, 2022 |
| Last Date for Extinguishment of Shares | September 14, 2022 |
The Birlasoft Limited Buyback is being offered at Rs ₹500 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 26 Equity Share out of every 557 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 26 Equity Shares out of every 557 Fully paid-up Equity Shares held on the Record Date. |
The issue size of Birlasoft Limited Buyback is 78,00,000 equity shares at ₹500 per share aggregating up to ₹390.00 Crores.
The buyback is being undertaken for the following reasons:
1. The Buyback will help the Company to distribute surplus cash to its members holding Equity Shares thereby enhancing the overall return for them.
2. The Buyback is generally expected to improve return on equity through the distribution of cash and improve earnings per share by the reduction in the equity base of the Company, thereby leading to a long-term increase in shareholders' value.
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 Birlasoft Limited 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.
