Tender Offer | ₹60.24 Crores | Listed at BSE, NSE | Fri, Aug 23, 2024 - Thu, Aug 29, 2024
Chaman Lal Setia Exports Ltd. Buyback is a tender offer for the repurchase of up to 0.20 crore equity shares, representing 9.50% of the total paid-up equity share capital at a buyback price of ₹300 per share with a face value of ₹2 per share, aggregating to ₹60.24 crores.
The record date for determining eligible shareholders is Aug 19, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 23, 2024 and closes on Aug 29, 2024, with the last date for receipt of tender forms being Aug 29, 2024.
The finalisation of buyback acceptance is expected on Sep 4, 2024, followed by settlement of bids on Sep 5, 2024.
Corporate Professionals Capital Pvt.Ltd. is the Manager to the Buyback and Beetal Financial & Computer Services Pvt.Ltd. is the Registrar and SMC Global Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Chaman Lal Setia Exports Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Aug 23, 2024
Offer Closing Date
Thu, Aug 29, 2024
Buyback Price
₹300 per share
Record Date
August 19, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 21 Equity Shares out of every 251 Fully paid-up Equity Shares held on the Record Date. | 3,01,190 |
| General Category for all other Eligible Shareholders | 24 Equity Shares out of every 677 Fully paid-up Equity Shares held on the Record Date. | 17,06,740 |
Chaman Lal Setia Exports Limited's revenue decreased by -2% and profit after tax (PAT) dropped by -2% 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 | ||||||||||||||||||||||||||||||
| Revenue | 1,365.2 | 1,398.82 | 936.36 | |||||||||||||||||||||||||||
| Profit After Tax | 115.64 | 117.67 | 64.98 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Founded in 1974, Chaman Lal Setia Exports Ltd. “is one of the largest manufacturers and exporters of basmati rice in India with its flagship brand "Maharani" basmati rice.
The paddy fields of Chaman Lal Setia Exports are located in Amritsar in Punjab, Karnal in Haryana and Delhi and spread over 4000 sq. km of rice-producing area. The company has a strong nationwide presence, is present in more than 83 countries and packs over 272 private labels in numerous markets around the world.
The company started exporting in 1982 and was recognized as an export house by the Ministry of Commerce, Government of India in 1989.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 237.20 | 202.75 | 220.11 |
| Jun-2024 | 223.05 | 185.00 | 208.47 |
| May-2024 | 233.00 | 199.40 | 217.73 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 237.50 | 203.29 | 223.30 |
| Jun-2024 | 223.50 | 183.35 | 208.40 |
| May-2024 | 233.40 | 197.75 | 217.15 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Chaman Lal Setia Exports Ltd.
No. 472, Udyog Vihar, Phase -3,
Near Wipro & Educom Building,
Gurugram - 122016
Beetal Financial & Computer Services Pvt.Ltd.
Lead Manager(s)
Registered Broker
The Chaman Lal Setia Exports Buyback 2024 opens on August 23, 2024, and closes on August 29, 2024.
Last date to be eligible to participate in buyback is August 16, 2024.
The Chaman Lal Setia Exports Buyback 2024 is a Tender Offer.
Chaman Lal Setia Exports Buyback 2024 Schedule
| Buyback Opening Date | August 23, 2024 |
| Buyback Closing Date | August 29, 2024 |
| Last Date for receipt of Tender Forms | August 29, 2024 |
| Finalisation of Buyback Acceptance | September 4, 2024 |
| Last Date for settlment of bids | September 5, 2024 |
| Last Date for Extinguishment of Shares | September 17, 2024 |
The Chaman Lal Setia Exports Buyback 2024 is being offered at Rs ₹300 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 21 Equity Shares out of every 251 Fully paid-up Equity Shares held on the Record Date. | 3,01,190 |
| General Category for all other Eligible Shareholders | 24 Equity Shares out of every 677 Fully paid-up Equity Shares held on the Record Date. | 17,06,740 |
The issue size of Chaman Lal Setia Exports Buyback 2024 is 20,07,930 equity shares at ₹300 per share aggregating up to ₹60.24 Crores.
The Buy-Back is being undertaken, inter-alia, 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 Chaman Lal Setia Exports 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.
