Tender Offer | ₹345.00 Crores | Listed at BSE, NSE | Thu, Mar 2, 2023 - Thu, Mar 16, 2023
Jagran Prakashan Ltd Buyback is a tender offer for the repurchase of up to 4.60 crore equity shares at a buyback price of ₹75 per share with a face value of ₹2 per share, aggregating to ₹345.00 crores.
The record date for determining eligible shareholders is Jan 6, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 2, 2023 and closes on Mar 16, 2023, with the last date for receipt of tender forms being Mar 18, 2023.
The finalisation of buyback acceptance is expected on Mar 24, 2023, followed by settlement of bids on Mar 27, 2023.
Ernst & Young Merchant Banking Services LLP is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Yes Securities (India) Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Jagran Prakashan Ltd Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Mar 2, 2023
Offer Closing Date
Thu, Mar 16, 2023
Buyback Price
₹75 per share
Record Date
January 6, 2023
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 2129.57 | 280.9 | 1918.49 | 1862.25 | 225.18 |
| 31-Mar-21 | 1341.2 | 78.31 | 1995.3 | 1939.67 | 287.93 |
| 31-Mar-22 | 1682.68 | 216.88 | 2137.42 | 2084.69 | 296.62 |
| Amount in ₹ Crore | |||||
Incorporated in July 1975 as "Jagran Prakashan Private Limited", the company's name was last changed from Jagran Prakashan Private Limited to Jagran Prakashan Limited, in November 2005.
Jagran Prakashan Limited is a media conglomerate with interests spanning across printing and publication of newspapers and magazines, FM radio, digital, outdoor advertising and promotional marketing, event management, and on-ground activation businesses.
The company and its subsidiaries publish 10 (ten) publications from 33 (thirty-three) different printing facilities across 13 (thirteen) states in 5 (five) different languages. Their publication Dainik Jagran is the highest read daily for the last thirteen years. The company has won over 165 National and International awards in the last five years.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 74.60 | 64.75 | 69.48 |
| Oct-2022 | 69.10 | 63.25 | 65.76 |
| Sep-2022 | 72.50 | 61.40 | 65.12 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 74.90 | 63.10 | 69.47 |
| Oct-2022 | 69.45 | 62.30 | 65.76 |
| Sep-2022 | 73.70 | 60.70 | 65.16 |
The Buyback is being undertaken for the following reasons:
Jagran Prakashan Ltd
Jagran Building, 2,
Sarvodaya Nagar
Kanpur - 208005
Kanpur, Uttar Pradesh, 208005
Lead Manager(s)
Registered Broker
The Jagran Prakashan Buyback 2022 opens on March 2, 2023, and closes on March 16, 2023.
Last date to be eligible to participate in buyback is January 4, 2023.
The Jagran Prakashan Buyback 2022 is a Tender Offer.
Jagran Prakashan Buyback 2022 Schedule
| Buyback Opening Date | March 2, 2023 |
| Buyback Closing Date | March 16, 2023 |
| Last Date for receipt of Tender Forms | March 18, 2023 |
| Finalisation of Buyback Acceptance | March 24, 2023 |
| Last Date for settlment of bids | March 27, 2023 |
| Last Date for Extinguishment of Shares | April 3, 2023 |
The Jagran Prakashan Buyback 2022 is being offered at Rs ₹75 per share.
The issue size of Jagran Prakashan Buyback 2022 is 4,60,00,000 equity shares at ₹75 per share aggregating up to ₹345.00 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 Jagran Prakashan Buyback 2022 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.
