Open Market Through Stock Exchange | ₹6.75 Crores | Listing at BSE | Wed, Feb 10, 2021 - Mon, Aug 9, 2021
Freshtrop Fruits Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹90 per share with a face value of ₹10 per share, aggregating to ₹6.75 crores.
The buyback opens on Feb 10, 2021 and closes on Aug 9, 2021.
Chartered Capital & Investment Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Innovate Securities Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Freshtrop Fruits Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Feb 10, 2021
Offer Closing Date
Mon, Aug 9, 2021
Buyback Price
₹90 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 1,669.80 | 1,760.50 | 1,779.59 |
| Profit After Tax | 46.19 | 137.44 | 83.04 |
| Net Worth | 693.54 | 764.30 | 626.64 |
Incorporated in 1992, Freshtrop Fruits Limited is engaged in two business segments of Fresh Fruits and Processed Fruits and Vegetables. The principal business of the company consists of fresh grapes. It also produces Mango pulp, Guava pulp, Pomegranate concentrate, Coconut chunks, Watermelon Pulp, Puree, and cold-processed juice.
Freshtrop Fruits was one of the first companies in the corporate sector to export fresh fruit to developed countries. The company has played a pioneering role in establishing exports of grapes and pomegranates from India to Europe.
Freshtrop Fruits is the first in India to offer 100% traceability of its produce through an online Internet-based system. The company has a state-of-the-art juice processing plant in Nasik, Maharashtra. Freshtrop Fruits recognizes food safety as the single most essential concern in the fresh produce business and takes a proactive approach to quality assurance and sustainability.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2020 | 75.00 | 62.10 | 67.31 |
| Nov-2020 | 69.75 | 50.55 | 60.70 |
| Oct-2020 | 62.90 | 55.00 | 57.90 |
The Buyback is undertaken by the Company to:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders value; and
iii) Optimize the capital structure.
Freshtrop Fruits Ltd.
A-603, Sapath-IV, Opp. Karnavati Club,
SG Highway, Ahmedabad - 380015
Ahmedabad, Gujarat, 380015
Lead Manager(s)
Registered Broker
The Freshtrop Fruits Buyback opens on February 10, 2021, and closes on August 9, 2021.
The Freshtrop Fruits Buyback is a Open Market Through Stock Exchange.
Freshtrop Fruits Buyback Schedule
| Buyback Opening Date | February 10, 2021 |
| Buyback Closing Date | August 9, 2021 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Freshtrop Fruits Buyback is being offered at Rs ₹90 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Freshtrop Fruits Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹6.75 Crores with pricing of Rs. ₹90 per share.
The Buyback is undertaken by the Company to:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders value; and
iii) Optimize the capital structure.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Freshtrop Fruits 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.
