Tender Offer | ₹300.00 Crores | Listed at BSE, NSE | Fri, Feb 3, 2023 - Thu, Feb 16, 2023
eClerx Services Ltd. Buyback is a tender offer for the repurchase of up to 0.17 crore equity shares at a buyback price of ₹1750 per share with a face value of ₹10 per share, aggregating to ₹300.00 crores.
The record date for determining eligible shareholders is Dec 27, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Feb 3, 2023 and closes on Feb 16, 2023, with the last date for receipt of tender forms being Feb 16, 2023.
The finalisation of buyback acceptance is expected on Feb 23, 2023, followed by settlement of bids on Feb 24, 2023.
Emkay Global Financial Services Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Emkay Global Financial Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the eClerx Services Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Feb 3, 2023
Offer Closing Date
Thu, Feb 16, 2023
Buyback Price
₹1750 per share
Record Date
December 27, 2022
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 46 Fully paid-up Equity Shares held on the Record Date. | 257,143.00 |
| General Category for all other Eligible Shareholders | 6 Equity Shares out of every 202 Fully paid-up Equity Shares held on the Record Date. | 1,457,142.00 |
| Period Ended | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|
| 31-Mar-20 | 1174.17 | 123.57 | 1111.31 |
| 31-Mar-21 | 1230.36 | 238.79 | 1182.62 |
| 31-Mar-22 | 1571.86 | 354.9 | 1174.53 |
| Amount in ₹ Crore | |||
Founded in 2000, eClerx Services Limited is in the business of providing process and change management and data analytics services that helps other business to improve their efficiency, productivity, and overall business performance.
The Company's products comprise service offerings in three categories named as eClerx Customer Operations, eClerx Digital and eClerx Markets. The company has a team of 3000+ full-time digital delivery employees at the five production hubs in Mumbai, Pune, Chandigarh, Verona, and Phuket.
eClerx provides customizable services to various industries like the financial industry, telecommunications, fashion, entertainment, travel, software and hi-tech to power up their businesses.
The company has local presence in Mumbai and global presence across Australia, Canada, Germany, India, Italy, Netherlands, Philippines, Singapore, Thailand, UK, and the USA.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 1,494.25 | 1,297.85 | 1,395.80 |
| Oct-2022 | 1,499.45 | 1,254.15 | 1,336.66 |
| Sep-2022 | 1,545.90 | 1,420.70 | 1,473.07 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 1,494.90 | 1,293.00 | 1,395.38 |
| Oct-2022 | 1,500.00 | 1,254.00 | 1,336.53 |
| Sep-2022 | 1,545.00 | 1,420.00 | 1,472.99 |
The Buy Back is being proposed by the company for fulfilling the following objectives:
eClerx Services Ltd.
4th Floor, Express Towers,
Nariman Point,
Mumbai - 400 021
Mumbai, Maharashtra, 400021
Lead Manager(s)
Registered Broker
The eClerx Services Buyback 2022 opens on February 3, 2023, and closes on February 16, 2023.
Last date to be eligible to participate in buyback is December 23, 2022.
The eClerx Services Buyback 2022 is a Tender Offer.
eClerx Services Buyback 2022 Schedule
| Buyback Opening Date | February 3, 2023 |
| Buyback Closing Date | February 16, 2023 |
| Last Date for receipt of Tender Forms | February 16, 2023 |
| Finalisation of Buyback Acceptance | February 23, 2023 |
| Last Date for settlment of bids | February 24, 2023 |
| Last Date for Extinguishment of Shares | March 1, 2023 |
The eClerx Services Buyback 2022 is being offered at Rs ₹1750 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 46 Fully paid-up Equity Shares held on the Record Date. | 257,143.00 |
| General Category for all other Eligible Shareholders | 6 Equity Shares out of every 202 Fully paid-up Equity Shares held on the Record Date. | 1,457,142.00 |
The issue size of eClerx Services Buyback 2022 is 17,14,285 equity shares at ₹1750 per share aggregating up to ₹300.00 Crores.
The Buy Back is being proposed by the company for fulfilling the following objectives:
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 eClerx Services Buyback 2022 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.
