Tender Offer | ₹59.50 Crores | Listed at BSE, NSE | Mon, May 9, 2022 - Mon, May 23, 2022
Filatex India Ltd. Buyback is a tender offer for the repurchase of up to 0.43 crore equity shares at a buyback price of ₹140 per share with a face value of ₹2 per share, aggregating to ₹59.50 crores.
The record date for determining eligible shareholders is Apr 8, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on May 9, 2022 and closes on May 23, 2022, with the last date for receipt of tender forms being May 23, 2022.
The finalisation of buyback acceptance is expected on May 27, 2022, followed by settlement of bids on Jun 1, 2022.
Corporate Professionals Capital Pvt.Ltd. is the Manager to the Buyback and MCS Share Transfer Agent Ltd. is the Registrar and SMC Global Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Filatex India Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, May 9, 2022
Offer Closing Date
Mon, May 23, 2022
Buyback Price
₹140 per share
Record Date
April 8, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 23 Equity Share out of every 226 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 8 Equity Share out of every 485 Fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 2,23,660.74 | 2,79,448.95 | 2,88,588.53 |
| Profit After Tax | 16,583.32 | 12,147.04 | 8,484.60 |
| Net Worth | 68,976.87 | 52,272.04 | 39,934.67 |
| Reserves and Surplus | 64,560.51 | 47,878.34 | 35,584.67 |
Filatex India Limited is a manufacturer of Polyester Filament Yarn and offers products like Monofilament Yarns for Zippers, Tooth Brush Bristles, Narrow Woven Fabrics, Polypropylene Yarn, and Forming Fabrics in India. The company built its 6000 Tons Per Annum plant in Dadra & Nagar haveli in 1996 for manufacturing polyester multifilament yarns and a plant with a capacity of 600 tonnes per day, as well as a 260 tonne per day POY, was set up in Dahej in 2012. The company has two regional offices in Maharashtra and Gujarat.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 129.80 | 101.15 | 119.89 |
| Jan-2022 | 142.30 | 96.50 | 118.36 |
| Dec-2021 | 103.90 | 72.50 | 90.82 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 129.35 | 101.00 | 120.46 |
| Jan-2022 | 142.80 | 96.55 | 120.76 |
| Dec-2021 | 104.00 | 72.35 | 91.36 |
The buyback is being undertaken for the following reasons:
1. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the company.
Filatex India Ltd.
Survey No.274, Demni Road,
Dadra-396191
U.T. of Dadra and Nagar Haveli and Daman and Diu
Dadra, Dadra and Nagar Haveli and Daman and Diu, 396191
Lead Manager(s)
Registered Broker
The Filatex India Buyback opens on May 9, 2022, and closes on May 23, 2022.
The Filatex India Buyback last day to buy is not available as of now.
The Filatex India Buyback is a Tender Offer.
Filatex India Buyback Schedule
| Buyback Opening Date | May 9, 2022 |
| Buyback Closing Date | May 23, 2022 |
| Last Date for receipt of Tender Forms | May 23, 2022 |
| Finalisation of Buyback Acceptance | May 27, 2022 |
| Last Date for settlment of bids | June 1, 2022 |
| Last Date for Extinguishment of Shares | June 8, 2022 |
The Filatex India Buyback is being offered at Rs ₹140 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 23 Equity Share out of every 226 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 8 Equity Share out of every 485 Fully paid-up Equity Shares held on the Record Date. |
The issue size of Filatex India Buyback is 42,50,000 equity shares at ₹140 per share aggregating up to ₹59.50 Crores.
The buyback is being undertaken for the following reasons:
1. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the company.
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 Filatex India Buyback 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.
