Tender Offer | ₹88.00 Crores | Listed at BSE, NSE | Mon, Sep 2, 2024 - Fri, Sep 6, 2024
KDDL Ltd Buyback is a tender offer for the repurchase of up to 0.02 crore equity shares, representing 1.90% of the total paid-up equity share capital at a buyback price of ₹3700 per share with a face value of ₹10 per share, aggregating to ₹88.00 crores.
The record date for determining eligible shareholders is Aug 27, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 2, 2024 and closes on Sep 6, 2024, with the last date for receipt of tender forms being Sep 9, 2024.
The finalisation of buyback acceptance is expected on Sep 12, 2024, followed by settlement of bids on Sep 13, 2024.
ITI Capital Ltd. is the Manager to the Buyback and MAS Services Ltd. is the Registrar and Antique Stock Broking Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the KDDL Ltd Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Sep 2, 2024
Offer Closing Date
Fri, Sep 6, 2024
Buyback Price
₹3700 per share
Record Date
August 27, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 58 Fully paid-up Equity Shares held on the Record Date. | 35,676 |
| General Category for all other Eligible Shareholders | 9 Equity Shares out of every 540 Fully paid-up Equity Shares held on the Record Date. | 2,02,161 |
KDDL Ltd's revenue increased by 25% and profit after tax (PAT) rose by 79% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,160.53 | 739.46 | 617.54 | |||||||||||||||||||||||||||||||||||||
| Revenue | 1,419.77 | 1,138.76 | 831.58 | 567.24 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 137.45 | 76.98 | 37.2 | 6.97 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 733.96 | 456.29 | 252.5 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 240.61 | 203.75 | 161.29 | |||||||||||||||||||||||||||||||||||||
| Total Borrowing | 127.55 | 154.98 | 155.82 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
KDDL Limited is engaged in the manufacturing of watch components and precision engineering products. It has been a manufacturer of watch components for over three decades.
KDDL supplies watch components to domestic and international luxury watch brands. KDDL Limited recently acquired Estima AG, an established maker of watch hands in Switzerland.
KDDL caters to various industries like automobile, electrical and electronics, consumer durables, industrial engineering, instrumentation, aerospace, and defence industry through precision engineering products like electrical connectors and terminals, components of relays for aerospace applications, electrical switch gears, cell phone chargers, battery and components for the automobile sector, etc.
KDDL also manufactures ornamental packaging boxes for watches, jewellery, and writing instruments.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 3,571.15 | 3,079.75 | 3,318.73 |
| Jun-2024 | 3,436.00 | 2,250.35 | 2,703.22 |
| May-2024 | 2,890.30 | 2,342.60 | 2,519.88 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 3,568.00 | 3,080.00 | 3,318.80 |
| Jun-2024 | 3,487.00 | 2,254.70 | 2,701.36 |
| May-2024 | 2,897.95 | 2,338.05 | 2,519.22 |
The Buyback is being undertaken for the following reasons:
KDDL Ltd
Kamla Centre,
SCO 88-89, Sector 8-C
Chandigarh - 160009
Chandigarh, Chandigarh, 160009
Lead Manager(s)
Registered Broker
The KDDL Buyback 2024 opens on September 2, 2024, and closes on September 6, 2024.
Last date to be eligible to participate in buyback is August 26, 2024.
The KDDL Buyback 2024 is a Tender Offer.
KDDL Buyback 2024 Schedule
| Buyback Opening Date | September 2, 2024 |
| Buyback Closing Date | September 6, 2024 |
| Last Date for receipt of Tender Forms | September 9, 2024 |
| Finalisation of Buyback Acceptance | September 12, 2024 |
| Last Date for settlment of bids | September 13, 2024 |
| Last Date for Extinguishment of Shares | September 24, 2024 |
The KDDL Buyback 2024 is being offered at Rs ₹3700 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 58 Fully paid-up Equity Shares held on the Record Date. | 35,676 |
| General Category for all other Eligible Shareholders | 9 Equity Shares out of every 540 Fully paid-up Equity Shares held on the Record Date. | 2,02,161 |
The issue size of KDDL Buyback 2024 is 2,37,837 equity shares at ₹3700 per share aggregating up to ₹88.00 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 KDDL Buyback 2024 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.
