Open Market Through Stock Exchange | ₹13.70 Crores | Listing at BSE, NSE | Wed, Aug 24, 2022 - Mon, Jan 30, 2023
Mindteck (India) Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹180 per share with a face value of ₹10 per share, aggregating to ₹13.70 crores.
The buyback opens on Aug 24, 2022 and closes on Jan 30, 2023.
Vivro Financial Services Pvt.Ltd. is the Manager to the Buyback and Universal Capital Securities Pvt.Ltd. is the Registrar and Pravin Ratilal Shares and Stock Brokers Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Mindteck (India) Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Aug 24, 2022
Offer Closing Date
Mon, Jan 30, 2023
Buyback Price
₹180 per share
Record Date
[.]
| Period Ended | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|
| 31-Mar-20 | 277.88 | -64.8 | 129.63 |
| 31-Mar-21 | 291.27 | 10.86 | 139.85 |
| 31-Mar-22 | 303.85 | 33.31 | 175.5 |
| Amount in ₹ Crore | |||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2022 | 146.20 | 101.55 | 120.92 |
| Jun-2022 | 129.90 | 96.30 | 112.22 |
| May-2022 | 156.25 | 111.25 | 135.18 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2022 | 145.60 | 101.25 | 120.80 |
| Jun-2022 | 128.70 | 95.50 | 112.20 |
| May-2022 | 156.00 | 111.00 | 134.99 |
The buyback is being undertaken for the following reason:
1. The Buy-back is being undertaken by the Company to return surplus funds to the equity shareholders of the Company. Additionally, the Company believes that the Buy-back will improve earnings per share by reduction in the equity base, thereby leading to long-term increase in the value of shareholders.
Mindteck (India) Ltd.
A.M.R. Tech Park,
Block 1, 3rd Floor, No. 664, 23/24,
Hosur Main Road, Bommanahalli, Bengaluru – 56006
Bengaluru, Karnataka
Universal Capital Securities Pvt.Ltd.
Lead Manager(s)
Registered Broker
The Mindteck India Buyback opens on August 24, 2022, and closes on January 30, 2023.
The Mindteck India Buyback is a Open Market Through Stock Exchange.
Mindteck India Buyback Schedule
| Buyback Opening Date | August 24, 2022 |
| Buyback Closing Date | January 30, 2023 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Mindteck India Buyback is being offered at Rs ₹180 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Mindteck India Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹13.70 Crores with pricing of Rs. ₹180 per share.
The buyback is being undertaken for the following reason:
1. The Buy-back is being undertaken by the Company to return surplus funds to the equity shareholders of the Company. Additionally, the Company believes that the Buy-back will improve earnings per share by reduction in the equity base, thereby leading to long-term increase in the value of shareholders.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Mindteck India 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.
