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Sep 29, 2021 - Oct 12, 2021

Mahalaxmi Rubtech Limited Buyback (Mahalaxmi Rubtech Buyback) Detail

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.

Mahalaxmi Rubtech Buyback Detail

Issue PeriodSep 29, 2021 - Oct 12, 2021
Security NameMahalaxmi Rubtech Limited
Issue TypeTender Offer
Issue Size (Shares)0.27 Crores
Issue Size (Amount)₹18.90 Crores
Buyback Price₹70 per share
Face Value₹10 per share
Listing AtBSE

Mahalaxmi Rubtech Buyback Issue Timetable

Offer Opens OnSep 29, 2021
Offer Closes OnOct 12, 2021
Record DateAug 27, 2021
Last Date for receipt of Tender FormsOct 15, 2021
Finalisation of Buyback AcceptanceOct 22, 2021
Last Date for settlment of bidsOct 25, 2021
Last Date for Extinguishment of SharesNov 1, 2021

Buyback Ratio

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.

Company Financials

Summary of financial Information (Standalone)
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

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2021 68.75 47.9 58.33
Jun-2021 51.35 48.25 49.8
May-2021 51.1 37.6 44.35

Necessity of the Issue

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 Buyback Documents

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Company Contact Information

Mahalaxmi Rubtech Limited
47, New Cloth Market,
Ahmedabad - 380002, Gujarat, India


Phone: +91 79 40008000
Email: cs@mahalaxmigroup.net
Website: https://www.mrtglobal.com/

Mahalaxmi Rubtech Buyback Registrar

  1. Cameo Corporate Services Limited
       Cameo Corporate Services Ltd.,
       Subramanian Building # 1, Club House Road,
       Chennai 600 002 - India

    Phone: +91-44-28460390
    Email: priya@cameoindia.com
    Website: https://online.cameoindia.com/

Mahalaxmi Rubtech Buyback Manager

Lead Manager(s)

  1. Saffron Capital Advisors Private Limited

Registered Broker

  1. Choice Equity Broking Private Limited
    Email: jeetender.joshi@choiceindia.com

Find Mahalaxmi Rubtech Buyback Latest Update

Mahalaxmi Rubtech Buyback FAQs

The Mahalaxmi Rubtech Buyback opens on Sep 29, 2021, and closes on Oct 12, 2021.

The Mahalaxmi Rubtech Buyback is a Tender Offer.

Mahalaxmi Rubtech Buyback Schedule

Buyback Opening DateSep 29, 2021
Buyback Closing DateOct 12, 2021
Last Date for receipt of Tender FormsOct 15, 2021
Finalisation of Buyback AcceptanceOct 22, 2021
Last Date for settlment of bidsOct 25, 2021
Last Date for Extinguishment of SharesNov 1, 2021

The Mahalaxmi Rubtech Buyback is being offered at Rs ₹70 per share per equity 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 record date for the Mahalaxmi Rubtech Buyback is Aug 27, 2021.

The issue size of Mahalaxmi Rubtech Buyback is of 0.27 Crores equity shares at ₹70 per share aggregating upto ₹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.


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