Tender Offer | ₹31.50 Crores | Listed at BSE, NSE | Thu, Jun 20, 2024 - Wed, Jun 26, 2024
Cheviot Company Ltd. Buyback is a tender offer for the repurchase of up to 0.02 crore equity shares, representing 2.91% of the total paid-up equity share capital at a buyback price of ₹1800 per share with a face value of ₹10 per share, aggregating to ₹31.50 crores.
The record date for determining eligible shareholders is Jun 14, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 20, 2024 and closes on Jun 26, 2024, with the last date for receipt of tender forms being Jul 1, 2024.
The finalisation of buyback acceptance is expected on Jul 2, 2024, followed by settlement of bids on Jul 3, 2024.
VC Corporate Advisors Pvt.Ltd. is the Manager to the Buyback and Maheshwari Datamatics Pvt.Ltd. is the Registrar and EUREKA STOCK & SHARE BROKING SERVICES LIMITED is the Registered Broker to the Buyback.
Investors are advised to refer to the Cheviot Company Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Jun 20, 2024
Offer Closing Date
Wed, Jun 26, 2024
Buyback Price
₹1800 per share
Record Date
June 14, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 105 Equity Shares out of every 1838 Fully paid-up Equity Shares held on the Record Date. | 26,250.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 411 Fully paid-up Equity Shares held on the Record Date. | 148,750.00 |
Cheviot Company Limited's revenue decreased by -11.58% and profit after tax (PAT) rose by 27.42% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 507.80 | 574.31 | 593.63 |
| Profit After Tax | 69.39 | 54.46 | 79.35 |
| Net Worth | 483.53 | 450.46 | 421.01 |
| Reserves and Surplus | 477.51 | 444.44 | 414.99 |
| Amount in ₹ Crore | |||
Founded in 1897, Cheviot Company Limited manufactures jute products and fabrics serving domestic and international markets. The company is well-known for producing high-quality technical jute fabrics for export. Its manufacturing facilities are situated at 19 Mehta Road, Bade Kalinagar, Budge Budge - 700137 and Sector II, Falta Special Economic Zone, Falta 24-Parganas (South), both located in the state of West Bengal, India.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 1,356.10 | 1,205.05 | 1,304.72 |
| Mar-2024 | 1,468.95 | 1,236.25 | 1,305.99 |
| Feb-2024 | 1,504.00 | 1,335.00 | 1,399.25 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 1,362.00 | 1,250.55 | 1,306.07 |
| Mar-2024 | 1,431.95 | 1,240.00 | 1,307.21 |
| Feb-2024 | 1,500.00 | 1,327.55 | 1,400.90 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Cheviot Company Ltd.
24 Park Street, Celica House,
9th Floor, Celica Park
Kolkata-700016
Kolkata, West Bengal, 700016
Lead Manager(s)
Registered Broker
The Cheviot Company Buyback 2024 opens on June 20, 2024, and closes on June 26, 2024.
Last date to be eligible to participate in buyback is June 13, 2024.
The Cheviot Company Buyback 2024 is a Tender Offer.
Cheviot Company Buyback 2024 Schedule
| Buyback Opening Date | June 20, 2024 |
| Buyback Closing Date | June 26, 2024 |
| Last Date for receipt of Tender Forms | July 1, 2024 |
| Finalisation of Buyback Acceptance | July 2, 2024 |
| Last Date for settlment of bids | July 3, 2024 |
| Last Date for Extinguishment of Shares | July 12, 2024 |
The Cheviot Company Buyback 2024 is being offered at Rs ₹1800 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 105 Equity Shares out of every 1838 Fully paid-up Equity Shares held on the Record Date. | 26,250.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 411 Fully paid-up Equity Shares held on the Record Date. | 148,750.00 |
The issue size of Cheviot Company Buyback 2024 is 1,75,000 equity shares at ₹1800 per share aggregating up to ₹31.50 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 Cheviot Company 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.
