Open Market Through Stock Exchange | ₹38.00 Crores | Listing at BSE, NSE | Fri, May 27, 2022 - Wed, Jun 29, 2022
Cigniti Technologies Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹500 per share with a face value of ₹10 per share, aggregating to ₹38.00 crores.
The buyback opens on May 27, 2022 and closes on Jun 29, 2022.
Bajaj Capital Ltd. is the Manager to the Buyback and Aarthi Consultants Pvt.Ltd. is the Registrar and RLP Securities Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Cigniti Technologies Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, May 27, 2022
Offer Closing Date
Wed, Jun 29, 2022
Buyback Price
₹500 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Income | 125,524.01 | 90,997.96 | 89,360.16 |
| Profit After Tax | 9,174.41 | 10,534.50 | 12,159.99 |
| Net Worth | 45,872.84 | 38,310.93 | 26,197.79 |
| Reserves and Surplus | 43,067.59 | 35,508.93 | 23,413.16 |
Cigniti Technologies Limited is a leading Digital Assurance, Software Testing and Quality Engineering company. The company offers services such as Artificial Intelligence testing, Robotic process automation, security testing, DevOps transformation, Test management services, etc. Cigniti Technologies serves several Fortune 500 and Global 2000 companies across 13 countries. Southwest, Snapdeal, AirAsia, and Cipla among others are the customers of Cigniti.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2022 | 494.85 | 427.85 | 455.00 |
| Mar-2022 | 547.00 | 405.00 | 459.11 |
| Feb-2022 | 558.00 | 482.00 | 520.90 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2022 | 494.80 | 428.80 | 460.49 |
| Mar-2022 | 527.50 | 410.00 | 455.96 |
| Feb-2022 | 547.80 | 490.00 | 517.57 |
The buyback is being undertaken for the following reason:
1. The Buyback would help in improving its return on equity, by reducing the equity base, thereby leading to a long term increase in shareholders' value.
Cigniti Technologies Ltd.
Suite No. 106 & 107, 6-3-456/C
MGR Estates, Dwarakapuri Colony,
Punjagutta, Hyderabad, 500082
Hyderabad, Telangana, 500082
Lead Manager(s)
Registered Broker
The Cigniti Technologies Buyback opens on May 27, 2022, and closes on June 29, 2022.
The Cigniti Technologies Buyback is a Open Market Through Stock Exchange.
Cigniti Technologies Buyback Schedule
| Buyback Opening Date | May 27, 2022 |
| Buyback Closing Date | June 29, 2022 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Cigniti Technologies Buyback is being offered at Rs ₹500 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Cigniti Technologies Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹38.00 Crores with pricing of Rs. ₹500 per share.
The buyback is being undertaken for the following reason:
1. The Buyback would help in improving its return on equity, by reducing the equity base, thereby leading to a long term increase in shareholders' value.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Cigniti Technologies 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.
