Tender Offer | ₹100.00 Crores | Listed at BSE, NSE | Thu, Aug 22, 2024 - Wed, Aug 28, 2024
Dhanuka Agritech Ltd. Buyback is a tender offer for the repurchase of up to 0.05 crore equity shares, representing 1.10% of the total paid-up equity share capital at a buyback price of ₹2000 per share with a face value of ₹2 per share, aggregating to ₹100.00 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 Aug 28, 2024.
The finalisation of buyback acceptance is expected on Sep 3, 2024, followed by settlement of bids on Sep 4, 2024.
Sundae Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Eureka Stock and Share Broking Service Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Dhanuka Agritech 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
₹2000 per share
Record Date
August 16, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 28 Fully paid-up Equity Shares held on the Record Date. | 75,000 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 528 Fully paid-up Equity Shares held on the Record Date. | 4,25,000 |
Dhanuka Agritech Limited's revenue increased by 3% and profit after tax (PAT) rose 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 | 1,793.5 | 1,744.98 | 1,511.36 | |||||||||||||||||||||||||||
| Profit After Tax | 239.09 | 233.5 | 208.9 | |||||||||||||||||||||||||||
| Reserves and Surplus | 1,246.75 | 1,052.18 | 951.1 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Dhanuka Agritech Limited is one of India's leading agrochemical companies.
Dhanuka Agritech is present in all major states of India through its sales offices. The company has 321 registrations including herbicides, insecticides, fungicides, plant growth regulators/bio-stimulants and over 330 active SKUs.
The company has three manufacturing facilities in Rajasthan, Gujarat and J&K with 39 warehouses and a network of more than eight branches across India catering to 6500 distributors and around 75,000 dealers.
With more than 1000 technical and commercial employees, a strong research and development department and a robust distribution network, Dhanuka reaches around 10 million Indian farmers with its products and services.
Dhanuka was awarded the Company of the Year (Agrochemicals Category) by the Federation of Indian Chambers of Commerce and Industry (FICCI) at the 10th biennial international exhibition and conference India Chem 2018 and has received numerous awards and recognitions from time to time.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,825.15 | 1,602.55 | 1,714.98 |
| Jun-2024 | 1,729.90 | 1,133.75 | 1,541.55 |
| May-2024 | 1,410.35 | 1,223.05 | 1,312.31 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,823.95 | 1,603.70 | 1,718.21 |
| Jun-2024 | 1,733.00 | 1,170.00 | 1,555.38 |
| May-2024 | 1,409.00 | 1,226.10 | 1,307.19 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Dhanuka Agritech Ltd.
Global Gateway Towers,
Near Guru Dronacharya Metro Station,
MG Road, Gurugram - 122002
Ron, Karnataka
Lead Manager(s)
Registered Broker
The Dhanuka Agritech 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 Dhanuka Agritech Buyback 2024 is a Tender Offer.
Dhanuka Agritech Buyback 2024 Schedule
| Buyback Opening Date | August 22, 2024 |
| Buyback Closing Date | August 28, 2024 |
| Last Date for receipt of Tender Forms | August 28, 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 Dhanuka Agritech Buyback 2024 is being offered at Rs ₹2000 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 28 Fully paid-up Equity Shares held on the Record Date. | 75,000 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 528 Fully paid-up Equity Shares held on the Record Date. | 4,25,000 |
The issue size of Dhanuka Agritech Buyback 2024 is 5,00,000 equity shares at ₹2000 per share aggregating up to ₹100.00 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 Dhanuka Agritech 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.
