Open Market Through Stock Exchange | ₹118.00 Crores | Listing at BSE, NSE | Mon, Mar 8, 2021 - Tue, Sep 7, 2021
Jagran Prakashan Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹60 per share with a face value of ₹2 per share, aggregating to ₹118.00 crores.
The buyback opens on Mar 8, 2021 and closes on Sep 7, 2021.
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
Mon, Mar 8, 2021
Offer Closing Date
Tue, Sep 7, 2021
Buyback Price
₹60 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 17,898.73 | 19,650.07 | 19,247.38 |
| Profit After Tax | 2,622.83 | 2,199.12 | 2,660.13 |
| Net Worth | 13,717.20 | 13,399.97 | 15,213.14 |
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 |
|---|---|---|---|
| Feb-2021 | 60.30 | 39.90 | 46.90 |
| Jan-2021 | 46.80 | 39.70 | 43.52 |
| Dec-2020 | 46.95 | 39.05 | 42.93 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2021 | 60.40 | 40.30 | 46.89 |
| Jan-2021 | 46.70 | 39.15 | 43.54 |
| Dec-2020 | 46.90 | 39.10 | 42.90 |
The Buy-back is being undertaken by the Company to:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders' value;
iii) To return surplus cash to its shareholders; and
iv) To improve return on equity, by reduction in the equity base;
Jagran Prakashan Ltd.
Jagran Building, 2, Sarvodaya Nagar
Kanpur- 208005
Kanpur, Uttar Pradesh, 208005
Lead Manager(s)
Registered Broker
The Jagran Prakashan Buyback opens on March 8, 2021, and closes on September 7, 2021.
The Jagran Prakashan Buyback is a Open Market Through Stock Exchange.
Jagran Prakashan Buyback Schedule
| Buyback Opening Date | March 8, 2021 |
| Buyback Closing Date | September 7, 2021 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Jagran Prakashan Buyback is being offered at Rs ₹60 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Jagran Prakashan Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹118.00 Crores with pricing of Rs. ₹60 per share.
The Buy-back is being undertaken by the Company to:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders' value;
iii) To return surplus cash to its shareholders; and
iv) To improve return on equity, by reduction in the equity base;
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 Jagran Prakashan 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.
