Tender Offer | ₹18.90 Crores | Listed at BSE | Wed, Sep 29, 2021 - Tue, Oct 12, 2021
Mahalaxmi Rubtech Ltd. Buyback is a tender offer for the repurchase of up to 0.27 crore equity shares at a buyback price of ₹70 per share with a face value of ₹10 per share, aggregating to ₹18.90 crores.
The record date for determining eligible shareholders is Aug 27, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 29, 2021 and closes on Oct 12, 2021, with the last date for receipt of tender forms being Oct 15, 2021.
The finalisation of buyback acceptance is expected on Oct 22, 2021, followed by settlement of bids on Oct 25, 2021.
Saffron Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Cameo Corporate Services Ltd. is the Registrar and Choice Equity Broking Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Mahalaxmi Rubtech Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Sep 29, 2021
Offer Closing Date
Tue, Oct 12, 2021
Buyback Price
₹70 per share
Record Date
August 27, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 25 Equity shares out of every 73 fully paid up Equity shares held on the Record date. |
| General Category for all other Eligible Shareholders | 14 Equity shares out of every 71 fully paid up Equity shares held on the Record date. |
| Particulars | For the year/period ended (Rs.in Millions) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 1,393.76 | 1,811.11 | 1,866.50 |
| Profit After Tax | 61.00 | 48.16 | 49.31 |
| Net Worth | 940.32 | 880.91 | 830.48 |
| Reserves and Surplus | 807.12 | 747.71 | 697.28 |
Headquartered in Ahmedabad, India Mahalaxmi RubTech is a part of the Mahalaxmi Group of Industries. The company is engaged in the manufacturing and marketing of products falling under the category of Traditional Textile and Technical Textile.
The company has the technological expertise and the manufacturing capacity to produce blankets of lengths up to 426 feet, and widths up to 3,700 mm. Major products of the company are - Offset Printing Blankets, Textile printing blankets, Rubber coated fabrics, Hydraulic seals, Air Cells, and Technical textiles.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2021 | 68.75 | 47.90 | 58.33 |
| Jun-2021 | 51.35 | 48.25 | 49.80 |
| May-2021 | 51.10 | 37.60 | 44.35 |
The Buyback aims to :
ii) Give an option to shareholders to get cash in lieu of Equity Shares to be accepted under the Buyback or choose not to participate and enjoy a resultant increase in their percentage shareholding without additional investment.
iii) The Buyback will help in improving certain key financial ratios of the Company.
Mahalaxmi Rubtech Ltd.
47, New Cloth Market,
Ahmedabad - 380002, Gujarat, India
Ahmedabad, Gujarat, 380002
Lead Manager(s)
Registered Broker
The Mahalaxmi Rubtech Buyback opens on September 29, 2021, and closes on October 12, 2021.
The Mahalaxmi Rubtech Buyback last day to buy is not available as of now.
The Mahalaxmi Rubtech Buyback is a Tender Offer.
Mahalaxmi Rubtech Buyback Schedule
| Buyback Opening Date | September 29, 2021 |
| Buyback Closing Date | October 12, 2021 |
| Last Date for receipt of Tender Forms | October 15, 2021 |
| Finalisation of Buyback Acceptance | October 22, 2021 |
| Last Date for settlment of bids | October 25, 2021 |
| Last Date for Extinguishment of Shares | November 1, 2021 |
The Mahalaxmi Rubtech Buyback is being offered at Rs ₹70 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 25 Equity shares out of every 73 fully paid up Equity shares held on the Record date. |
| General Category for all other Eligible Shareholders | 14 Equity shares out of every 71 fully paid up Equity shares held on the Record date. |
The issue size of Mahalaxmi Rubtech Buyback is 27,00,000 equity shares at ₹70 per share aggregating up to ₹18.90 Crores.
The Buyback aims to :
ii) Give an option to shareholders to get cash in lieu of Equity Shares to be accepted under the Buyback or choose not to participate and enjoy a resultant increase in their percentage shareholding without additional investment.
iii) The Buyback will help in improving certain key financial ratios of the Company.
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 Mahalaxmi Rubtech 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.
