Tender Offer | ₹17.50 Crores | Listed at BSE | Mon, Jul 24, 2023 - Fri, Jul 28, 2023
James Warren Tea Ltd. Buyback is a tender offer for the repurchase of up to 0.07 crore equity shares at a buyback price of ₹250 per share with a face value of ₹10 per share, aggregating to ₹17.50 crores.
The record date for determining eligible shareholders is Jul 18, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jul 24, 2023 and closes on Jul 28, 2023, with the last date for receipt of tender forms being Jul 28, 2023.
The finalisation of buyback acceptance is expected on Aug 3, 2023, followed by settlement of bids on Aug 4, 2023.
Fedex Securities Pvt.Ltd. is the Manager to the Buyback and Maheshwari Datamatics Pvt.Ltd. is the Registrar and Bindal Equities Pvt. Ltd. is the Registered Broker to the Buyback.
Investors are advised to refer to the James Warren Tea Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Jul 24, 2023
Offer Closing Date
Fri, Jul 28, 2023
Buyback Price
₹250 per share
Record Date
July 18, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 44 Fully paid-up Equity Shares held on the Record Date. | 115,215.00 |
| General Category for all other Eligible Shareholders | 7 Equity Shares out of every 44 Fully paid-up Equity Shares held on the Record Date. | 584,785.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-18 | 153.18 | 121.10 | -2.53 | 94.97 |
| 31-Mar-19 | 167.56 | 148.98 | 4.03 | 98.59 |
| 31-Mar-20 | 138.69 | 145.79 | 3.01 | 79.12 |
| 31-Mar-21 | 145.71 | 133.98 | 28.96 | 86.88 |
| 31-Mar-22 | 130.79 | 116.44 | 8.25 | 67.54 |
| Amount in ₹ Crore | ||||
James Warren Tea Limited is engaged in the cultivation, manufacture, and sale of tea.
James Warren, the founder of the company, planted his first tea estate near Dibrugarh in 1850. Properties have been added subsequently and Warren Tea Limited was acquired by Govind Ruia, a prominent businessman from Manchester (UK) in 1983. The company now has demerged 7 estates into James Warren Tea Limited.
James Warren Tea has over 9,500 employees. The company's tea estates are all located in the high-quality belt of the South Bank in Upper Assam and are spread over 4,000 hectares of land.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 242.80 | 240.70 | 241.78 |
| Jun-2023 | 246.30 | 239.05 | 242.89 |
| May-2023 | 288.85 | 238.25 | 267.82 |
The buyback will help the company achieve the following objectives:
James Warren Tea Ltd.
12, Pretoria Street,
Kolkata - 700071
Kolkata, West Bengal, 700071
Lead Manager(s)
Registered Broker
The James Warren Tea Buyback 2023 opens on July 24, 2023, and closes on July 28, 2023.
Last date to be eligible to participate in buyback is July 17, 2023.
The James Warren Tea Buyback 2023 is a Tender Offer.
James Warren Tea Buyback 2023 Schedule
| Buyback Opening Date | July 24, 2023 |
| Buyback Closing Date | July 28, 2023 |
| Last Date for receipt of Tender Forms | July 28, 2023 |
| Finalisation of Buyback Acceptance | August 3, 2023 |
| Last Date for settlment of bids | August 4, 2023 |
| Last Date for Extinguishment of Shares | August 14, 2023 |
The James Warren Tea Buyback 2023 is being offered at Rs ₹250 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 44 Fully paid-up Equity Shares held on the Record Date. | 115,215.00 |
| General Category for all other Eligible Shareholders | 7 Equity Shares out of every 44 Fully paid-up Equity Shares held on the Record Date. | 584,785.00 |
The issue size of James Warren Tea Buyback 2023 is 7,00,000 equity shares at ₹250 per share aggregating up to ₹17.50 Crores.
The buyback will help the company achieve the following objectives:
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 James Warren Tea 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.
