Elegant Marbles & Grani Industries Buyback (Elegant Marbles & Grani Industries Buyback 2023) Detail

Last date to be eligible to participate in buyback is January 4, 2024.

The Elegant Marbles & Grani Industries Buyback 2023 is a Tender Offer.

The Elegant Marbles & Grani Industries Buyback 2023 is being offered at Rs ₹385 per share per equity share.

The record date for the Elegant Marbles & Grani Industries Buyback 2023 is January 5, 2024.

The issue size of Elegant Marbles & Grani Industries Buyback 2023 is of 697,000 equity shares at ₹385 per share aggregating upto ₹26.83 Crores.

The Board is of the view that the proposed Buyback will help the Company achieve the following objectives

1. Optimize returns to shareholders;
2. Enhance overall shareholders value and
3. Optimizes the capital structure. The above objectives will be achieved by returning part of surplus cash to shareholders through the Buyback process. This may lead to reduction in outstanding Equity Shares, improvement in earnings per Equity Share and enhanced return on invested capital.

Letter of Offer

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 Elegant Marbles & Grani Industries Buyback 2023 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.