Tender Offer | ₹374.80 Crores | Listed at NSE | Thu, Sep 21, 2023 - Wed, Sep 27, 2023
BSE Ltd. Buyback is a tender offer for the repurchase of up to 0.35 crore equity shares at a buyback price of ₹1080 per share with a face value of ₹2 per share, aggregating to ₹374.80 crores.
The record date for determining eligible shareholders is Sep 14, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 21, 2023 and closes on Sep 27, 2023, with the last date for receipt of tender forms being Sep 27, 2023.
The finalisation of buyback acceptance is expected on Oct 4, 2023, followed by settlement of bids on Oct 5, 2023.
Nuvama Wealth Management Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Nuvama Wealth Management Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the BSE Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Sep 21, 2023
Offer Closing Date
Wed, Sep 27, 2023
Buyback Price
₹1080 per share
Record Date
September 14, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 26 Fully paid-up Equity Shares held on the Record Date. | 520,556.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date. | 2,949,814.00 |
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 4,475.77 | 4,627.08 | 6,185.40 | 5,993.81 |
| Revenue | 630.00 | 654.65 | 863.53 | 953.94 |
| Profit After Tax | 120.61 | 141.70 | 244.93 | 205.65 |
| Net Worth | ||||
| Reserves and Surplus | 2,406.39 | 2,473.64 | 2,613.13 | 2,648.25 |
| Total Borrowing |
Incorporated in 2005, BSE (formerly known as the Bombay Stock Exchange) is the first Indian Stock Exchange of India which started its operations over a century ago. The company's head office is located on Dalal Street in Mumbai.
With the formation of BSE, numeration remarkable changes and adaptations were made in the Indian Securities Market in order to align the segment with international customs.
Bombay Stock Exchange was founded by Premchand Roychand in 1875. And as of today after more than 125 years, BSE is one of the largest stock exchanges in the world by Market Capitalization. BSE was also the first Stock Exchange in Asia when it was established.
BSE Limited is the functionary of the BSE Exchange (Bombay Stock Exchange), regarded as India's largest stock exchange by the number of companies listed. Over 5000 companies are listed on BSE, the highest in any exchange around the world.
BSE offers trading in Equity, Debt Instruments, Derivatives, Mutual Funds, and SME Equity. BSE also offers services including risk management, clearing, settlement, market data services, IT services and solutions, licensing index products such as the S&P BSE SENSEX, and financial & capital markets training.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2023 | 1,084.90 | 804.00 | 893.05 |
| Jul-2023 | 814.00 | 611.75 | 733.72 |
| Jun-2023 | 624.30 | 551.45 | 579.01 |
The proposed Buy-back will help the Company achieve the following objectives:
BSE Ltd.
26th floor, Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai - 400001
Mumbai, Maharashtra, 400001
Lead Manager(s)
Registered Broker
The BSE Buyback July 2023 opens on September 21, 2023, and closes on September 27, 2023.
Last date to be eligible to participate in buyback is September 13, 2023.
The BSE Buyback July 2023 is a Tender Offer.
BSE Buyback July 2023 Schedule
| Buyback Opening Date | September 21, 2023 |
| Buyback Closing Date | September 27, 2023 |
| Last Date for receipt of Tender Forms | September 27, 2023 |
| Finalisation of Buyback Acceptance | October 4, 2023 |
| Last Date for settlment of bids | October 5, 2023 |
| Last Date for Extinguishment of Shares | October 16, 2023 |
The BSE Buyback July 2023 is being offered at Rs ₹1080 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 26 Fully paid-up Equity Shares held on the Record Date. | 520,556.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date. | 2,949,814.00 |
The issue size of BSE Buyback July 2023 is 34,70,370 equity shares at ₹1080 per share aggregating up to ₹374.80 Crores.
The proposed Buy-back will help the Company achieve the following objectives:
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 BSE Buyback July 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.
