Tender Offer | ₹130.00 Crores | Listed at BSE, NSE | Thu, Aug 22, 2024 - Wed, Aug 28, 2024
CERA Sanitaryware Ltd. Buyback is a tender offer for the repurchase of up to 0.01 crore equity shares, representing 0.83% of the total paid-up equity share capital at a buyback price of ₹12000 per share with a face value of ₹5 per share, aggregating to ₹130.00 crores.
The record date for determining eligible shareholders is Aug 16, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 22, 2024 and closes on Aug 28, 2024, with the last date for receipt of tender forms being Sep 2, 2024.
The finalisation of buyback acceptance is expected on Sep 3, 2024, followed by settlement of bids on Sep 4, 2024.
Ambit Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Ambit Capital Pvt Ltd is the Registered Broker to the Buyback.
Investors are advised to refer to the CERA Sanitaryware Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 22, 2024
Offer Closing Date
Wed, Aug 28, 2024
Buyback Price
₹12000 per share
Record Date
August 16, 2024
CERA Sanitaryware Limited's revenue increased by 5% and profit after tax (PAT) rose by 14% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 1,845.53 | 1,676.64 | ||||||||||||||||||||||||||||
| Revenue | 1,938.92 | 1,838.88 | 1,469.48 | |||||||||||||||||||||||||||
| Profit After Tax | 241.32 | 211.05 | 152.95 | |||||||||||||||||||||||||||
| Reserves and Surplus | 1,166.13 | 1,339.28 | 1,008.65 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
CERA Sanitaryware Limited offers sanitary products, fittings, and tiles for wellness solutions such as high-quality showers, steam cubicles, whirlpools, and more.
The company has four main brands, namely CERA, Lustre, Senator, and Iseva. Under these brands, the company offers high-quality sanitary products, fittings and showers, tiles, bathtubs, mirrors and other bathroom furniture.
The CERA sanitary ware factory in Kadi in North Gujarat is the largest single-site plant in India with a capacity of 3 million units per year. The state-of-the-art faucet manufacturing plant with a capacity of 7,200 pieces per day is also equipped with the latest low-pressure die-casting machines, an automatic chrome plant, and a range of CNC and automatic polishing machines.
CERA Sanitaryware has recorded a total income of Rs. 1,93,891.67 lakhs in FY 2024.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 9,640.00 | 8,619.80 | 8,969.33 |
| Jun-2024 | 9,450.85 | 6,799.10 | 7,952.49 |
| May-2024 | 7,299.00 | 6,700.00 | 7,021.31 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 9,650.00 | 8,630.45 | 8,967.95 |
| Jun-2024 | 9,450.00 | 6,780.05 | 7,950.99 |
| May-2024 | 7,301.00 | 6,703.00 | 7,021.62 |
The Buyback is being undertaken for the following reasons:
CERA Sanitaryware Ltd.
9, GIDC Industrial Estate,
Kadi, Dist.Mehsana,
North Gujarat, , Mehsana - 382715
Mehsana, Gujarat, 382715
Lead Manager(s)
Registered Broker
The CERA Sanitaryware Buyback 2024 opens on August 22, 2024, and closes on August 28, 2024.
Last date to be eligible to participate in buyback is August 14, 2024.
The CERA Sanitaryware Buyback 2024 is a Tender Offer.
CERA Sanitaryware Buyback 2024 Schedule
| Buyback Opening Date | August 22, 2024 |
| Buyback Closing Date | August 28, 2024 |
| Last Date for receipt of Tender Forms | September 2, 2024 |
| Finalisation of Buyback Acceptance | September 3, 2024 |
| Last Date for settlment of bids | September 4, 2024 |
| Last Date for Extinguishment of Shares | September 13, 2024 |
The CERA Sanitaryware Buyback 2024 is being offered at Rs ₹12000 per share.
The issue size of CERA Sanitaryware Buyback 2024 is 1,08,333 equity shares at ₹12000 per share aggregating up to ₹130.00 Crores.
The Buyback is being undertaken for the following reasons:
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 CERA Sanitaryware Buyback 2024 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.
