Tender Offer | ₹26.83 Crores | Listed at BSE | Thu, Jan 11, 2024 - Wed, Jan 17, 2024
Elegant Marbles & Grani Industries Buyback is a tender offer for the repurchase of up to 0.07 crore equity shares, representing 24.88% of the total paid-up equity share capital at a buyback price of ₹385 per share with a face value of ₹10 per share, aggregating to ₹26.83 crores.
The record date for determining eligible shareholders is Jan 5, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jan 11, 2024 and closes on Jan 17, 2024, with the last date for receipt of tender forms being Jan 19, 2024.
Sundae Capital Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Eureka Stock and Share Broking Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Elegant Marbles & Grani Industries Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Jan 11, 2024
Offer Closing Date
Wed, Jan 17, 2024
Buyback Price
₹385 per share
Record Date
January 5, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 86 Equity Shares out of every 353 Fully paid-up Equity Shares held on the Record Date. | 104,550.00 |
| General Category for all other Eligible Shareholders | 161 Equity Shares out of every 878 Fully paid-up Equity Shares held on the Record Date. | 529,450.00 |
Elegant Marbles & Grani Industries's revenue increased by 26.93% and profit after tax (PAT) rose by 13.02% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | ||||
| Revenue | 17.69 | 37.85 | 29.82 | 11.95 |
| Profit After Tax | 2.60 | 3.04 | 2.69 | -0.79 |
| Net Worth | 140.82 | 105.96 | 105.50 | 91.42 |
| Reserves and Surplus | 137.16 | 102.30 | 101.84 | 87.76 |
| Amount in ₹ Crore | ||||
Incorporated in 1984, Elegant Marbles and Grani is an exporter of premium Italian and exotic marbles. The company produces Quartz, Engineered Marble, tiles and other surfaces used in construction and interior design. The company's factory is situated on Abu Road, Rajasthan spread across an area of 2.5 million square feet.
The core strength of the company lies in the following:-
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2023 | 333.80 | 187.00 | 316.33 |
| Oct-2023 | 208.70 | 170.35 | 185.96 |
| Oct-2023 | 186.85 | 160.00 | 172.24 |
The Board is of the view that the proposed Buyback will help the Company achieve the following objectives
Elegant Marbles & Grani Industries
E-7/9, RICCO Industrial Area
Abu Road
307026
Abu Road, Rajasthan
Lead Manager(s)
Registered Broker
The Elegant Marbles & Grani Industries Buyback 2023 opens on January 11, 2024, and closes on January 17, 2024.
Last date to be eligible to participate in buyback is January 4, 2024.
The Elegant Marbles & Grani Industries Buyback 2023 is a Tender Offer.
Elegant Marbles & Grani Industries Buyback 2023 Schedule
| Buyback Opening Date | January 11, 2024 |
| Buyback Closing Date | January 17, 2024 |
| Last Date for receipt of Tender Forms | January 19, 2024 |
| Finalisation of Buyback Acceptance | |
| Last Date for settlment of bids | January 24, 2024 |
| Last Date for Extinguishment of Shares | February 5, 2024 |
The Elegant Marbles & Grani Industries Buyback 2023 is being offered at Rs ₹385 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 86 Equity Shares out of every 353 Fully paid-up Equity Shares held on the Record Date. | 104,550.00 |
| General Category for all other Eligible Shareholders | 161 Equity Shares out of every 878 Fully paid-up Equity Shares held on the Record Date. | 529,450.00 |
The issue size of Elegant Marbles & Grani Industries Buyback 2023 is 6,97,000 equity shares at ₹385 per share aggregating up to ₹26.83 Crores.
The Board is of the view that the proposed Buyback will help the Company achieve 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 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.
