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 ( 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

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

Mahalaxmi Rubtech Buyback Manager

Lead Manager(s)

  1. Saffron Capital Advisors Private Limited

Registered Broker

  1. Choice Equity Broking Private Limited

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