Tender Offer | ₹155.00 Crores | Listed at BSE, NSE | Thu, Aug 31, 2023 - Wed, Sep 6, 2023
FDC Ltd. Buyback is a tender offer for the repurchase of up to 0.31 crore equity shares at a buyback price of ₹500 per share with a face value of ₹1 per share, aggregating to ₹155.00 crores.
The record date for determining eligible shareholders is Aug 25, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 31, 2023 and closes on Sep 6, 2023, with the last date for receipt of tender forms being Sep 8, 2023.
The finalisation of buyback acceptance is expected on Sep 13, 2023, followed by settlement of bids on Sep 13, 2023.
Sundae Capital Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Eureka Stock & Share Broking Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the FDC Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 31, 2023
Offer Closing Date
Wed, Sep 6, 2023
Buyback Price
₹500 per share
Record Date
August 25, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 12 Equity Shares out of every 131 Fully paid-up Equity Shares held on the Record Date. | 465,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 61 Fully paid-up Equity Shares held on the Record Date. | 2,635,000.00 |
| Period Ended | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 2,254.25 | 2,335.42 |
| Revenue | 1,597.70 | 1,830.94 |
| Profit After Tax | 219.64 | 200.97 |
| Net Worth | ||
| Reserves and Surplus | ||
| Total Borrowing |
Incorporated in 1940, FDC Limited is engaged in the business of manufacturing and marketing Oral Rehydration Salts and Ophthalmic.
The company has a diversified product portfolio in various therapeutic areas, i.e. Oral Rehydration Salts, Ophthalmology, Dermatology, Antibiotics, Antivirals, Cardiovascular, and Anti-diabetes. It also manufactures Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms. It offers 300+ products in India and also exports to 50+ countries including the US, UK, South Africa, and Japan.
The company has 6 Globally approved manufacturing facilities, situated at Roha, Waluj, and Sinnar in Maharashtra, Baddi in Himachal Pradesh, and Verna in Goa.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 350.20 | 306.80 | 334.45 |
| Jun-2023 | 327.60 | 289.85 | 311.33 |
| May-2023 | 314.95 | 281.40 | 298.28 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 350.15 | 306.55 | 332.85 |
| Jun-2023 | 327.95 | 291.25 | 311.40 |
| May-2023 | 315.00 | 282.05 | 297.98 |
The Buyback is being undertaken for the following reasons:
FDC Ltd.
B - 8 MIDC area,
Waluj - 431 136
District - Aurangabad,
Aurangabad, Bihar, 431136
Lead Manager(s)
Registered Broker
The FDC Buyback 2023 opens on August 31, 2023, and closes on September 6, 2023.
Last date to be eligible to participate in buyback is August 24, 2023.
The FDC Buyback 2023 is a Tender Offer.
FDC Buyback 2023 Schedule
| Buyback Opening Date | August 31, 2023 |
| Buyback Closing Date | September 6, 2023 |
| Last Date for receipt of Tender Forms | September 8, 2023 |
| Finalisation of Buyback Acceptance | September 13, 2023 |
| Last Date for settlment of bids | September 13, 2023 |
| Last Date for Extinguishment of Shares | September 25, 2023 |
The FDC Buyback 2023 is being offered at Rs ₹500 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 12 Equity Shares out of every 131 Fully paid-up Equity Shares held on the Record Date. | 465,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 61 Fully paid-up Equity Shares held on the Record Date. | 2,635,000.00 |
The issue size of FDC Buyback 2023 is 31,00,000 equity shares at ₹500 per share aggregating up to ₹155.00 Crores.
The Buyback is being undertaken 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 FDC 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.
