Tender Offer | ₹43.13 Crores | Listed at BSE | Mon, Jan 10, 2022 - Fri, Jan 21, 2022
Cheviot Company Ltd. Buyback is a tender offer for the repurchase of up to 0.03 crore equity shares at a buyback price of ₹1725 per share with a face value of ₹10 per share, aggregating to ₹43.13 crores.
The record date for determining eligible shareholders is Dec 17, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jan 10, 2022 and closes on Jan 21, 2022, with the last date for receipt of tender forms being Jan 25, 2022.
The finalisation of buyback acceptance is expected on Jan 28, 2022, followed by settlement of bids on Jan 31, 2022.
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
Mon, Jan 10, 2022
Offer Closing Date
Fri, Jan 21, 2022
Buyback Price
₹1725 per share
Record Date
December 17, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 141 shares held on the record date. |
| General Category for all other Eligible Shareholders | 31 Equity Shares out of every 854 shares held on the record date. |
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 2,705.19 | 4,413.03 | 4,677.62 | 4,166.73 |
| Profit After Tax | 476.14 | 757.23 | 481.21 | 501.78 |
| Net Worth | 4,398.25 | 5,014.98 | 4,659.72 | 4,451.81 |
| Reserves and Surplus | 4,335.55 | 4,952.27 | 4,595.01 | 4,387.11 |
Cheviot Company Ltd is a group company of Cheviot group and majorly deals in Jute products. Cheviot Company Ltd is engaged in the manufacturing of Sacking bags, Sacking Cloth, Hessian cloth & Bags, Decorative Fabrics - Jute and Jute blended Yarn and Jute blended with other Textile fibers. The company owns Jute Mills in West Bengal and manufactures jute fabrics and jute products. The company caters to both domestic and international markets. The company strongly focuses on quality standards and has received various quality assurance licensees. Cheviot Company is recognized as a Trading House by the government of India.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 1,390.00 | 1,131.00 | 1,224.93 |
| Oct-2021 | 1,305.00 | 1,102.00 | 1,223.67 |
| Sep-2021 | 1,369.95 | 1,250.00 | 1,308.24 |
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
Cheviot Company Ltd.
9th Floor, Magma House
24, Park Street,
Kolkata – 700016
Kolkata, West Bengal, 700016
Lead Manager(s)
Registered Broker
The Cheviot Company Buyback opens on January 10, 2022, and closes on January 21, 2022.
The Cheviot Company Buyback last day to buy is not available as of now.
The Cheviot Company Buyback is a Tender Offer.
Cheviot Company Buyback Schedule
| Buyback Opening Date | January 10, 2022 |
| Buyback Closing Date | January 21, 2022 |
| Last Date for receipt of Tender Forms | January 25, 2022 |
| Finalisation of Buyback Acceptance | January 28, 2022 |
| Last Date for settlment of bids | January 31, 2022 |
| Last Date for Extinguishment of Shares | February 9, 2022 |
The Cheviot Company Buyback is being offered at Rs ₹1725 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 141 shares held on the record date. |
| General Category for all other Eligible Shareholders | 31 Equity Shares out of every 854 shares held on the record date. |
The issue size of Cheviot Company Buyback is 2,50,000 equity shares at ₹1725 per share aggregating up to ₹43.13 Crores.
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
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 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.
