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Aug 24, 2022 - Feb 23, 2023

Mindteck (India) Limited Buyback (Mindteck India Buyback) Detail

Incorporated in 1991, Mindteck is an engineering and technology solutions company. The company serves a top-tier Fortune 1000 clientele, start-ups, leading universities, and government entities around the globe. The company offers services such as Test Automation, Software Product Testing, System and Integration Testing, New Product Engineering, Product Maintenance, Product Re-engineering, Local and remote IT support services, SLA Based Delivery, Service Delivery Process, Incident Response & Resolution, Systems Integration, IT Staff Augmentation and Onsite, offsite and offshore engagements and delivery models tailored to meet a specific set of implementation requirements.

Mindteck India Buyback Detail

Issue PeriodAug 24, 2022 - Feb 23, 2023
Security NameMindteck (India) Limited
Issue TypeOpen Market Through Stock Exchange
Issue Size (Amount)₹13.70 Crores
Buyback Price₹180 per share
Face Value₹10 per share
Listing AtBSE, NSE

Company Financials

Mindteck (India) Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After TaxNet Worth
31-Mar-20277.88-64.8129.63
31-Mar-21291.2710.86139.85
31-Mar-22303.8533.31175.5
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2022 146.2 101.55 120.92
Jun-2022 129.9 96.3 112.22
May-2022 156.25 111.25 135.18

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2022 145.6 101.25 120.8
Jun-2022 128.7 95.5 112.2
May-2022 156 111 134.99

Necessity of the Issue

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 Buyback Documents

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Company Contact Information

Mindteck (India) Limited
A.M.R. Tech Park,
Block 1, 3rd Floor, No. 664, 23/24,
Hosur Main Road, Bommanahalli, Bengaluru – 56006

Phone: +91 80 4154 8000
Email: cs.legal@mindteck.com
Website: https://www.mindteck.com/

Mindteck India Buyback Registrar

  1. Universal Capital Securities Pvt. Ltd
       21, Shakil Niwas Opp Saibaba Temple,
       Mahakali Caves Road, Andheri (E),
       Mumbai: - 400093.

    Phone: +91-22-28207203
    Email: mindteck_buyback@unisec.in
    Website: http://www.unisec.in

Mindteck India Buyback Manager

Lead Manager(s)

  1. Vivro Financial Services Private Limited

Registered Broker

  1. Pravin Ratilal Shares and Stock Brokers Limited
    Email: info@prssb.com

Find Mindteck India Buyback Latest Update

Mindteck India Buyback FAQs

The Mindteck India Buyback opens on Aug 24, 2022, and closes on Feb 23, 2023.

The Mindteck India Buyback is a Open Market Through Stock Exchange.

Mindteck India Buyback Schedule

Buyback Opening DateAug 24, 2022
Buyback Closing DateFeb 23, 2023
Last date for acceptance of sharesUpon relevant pay-out by the Stock exchange

The Mindteck India Buyback is being offered at Rs ₹180 per share per equity share.

There is no ratio applicable in case of open market offer through stock exchange mechanism.

There is no concept of record date in case of open market 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.


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