Tender Offer | ₹693.77 Crores | Listed at BSE, NSE | Fri, Jan 28, 2022 - Thu, Feb 10, 2022
MOIL Ltd. Buyback is a tender offer for the repurchase of up to 3.38 crore equity shares at a buyback price of ₹205 per share with a face value of ₹10 per share, aggregating to ₹693.77 crores.
The record date for determining eligible shareholders is Dec 31, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jan 28, 2022 and closes on Feb 10, 2022, with the last date for receipt of tender forms being Feb 12, 2022.
The finalisation of buyback acceptance is expected on Feb 18, 2022, followed by settlement of bids on Feb 21, 2022.
IDBI Capital Markets Services Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and IDBI Capital Markets & Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the MOIL Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Jan 28, 2022
Offer Closing Date
Thu, Feb 10, 2022
Buyback Price
₹205 per share
Record Date
December 31, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 123 Equity Shares out of every 625 shares held on the record date. |
| General Category for all other Eligible Shareholders | 99 Equity Shares out of every 728 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 | 12,798.5 | 12,191.8 | 16,314.8 |
| Profit After Tax | 1,766.3 | 2,482.2 | 4,739.0 |
| Reserves & Surplus | 25,825.7 | 2,5260.6 | 28,251.0 |
| Net Worth | 28,199.0 | 27,633.9 | 30,827.1 |
Incorporated in 1962, MOIL is a miniratna state-owned manganese ore mining company. MOIL produces and sells different grades of Manganese ore including, (i) High-Grade ores for production of Ferro manganese, (ii) Medium grade ore for production of Silico manganese, (iii) Blast furnace grade ore required for production of hot metal and, (iv) Dioxide for dry battery cells and chemical industries.
MOIL operates 11 mines, 7 located in the Nagpur and Bhandara districts of Maharashtra and 4 in the Balaghat district of Madhya Pradesh. MOIL completes around 50% of the total dioxide ore requirement of India.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 179.80 | 156.35 | 170.92 |
| Oct-2021 | 174.55 | 154.70 | 164.37 |
| Sep-2021 | 181.30 | 156.25 | 165.23 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 179.80 | 157.15 | 170.96 |
| Oct-2021 | 174.70 | 154.50 | 164.36 |
| Sep-2021 | 181.50 | 156.15 | 165.22 |
The Buyback aims to :
i) Reduce outstanding number of equity shares and
consequently increase earnings per share and book value per share.
ii) Effectively utilize available cash; and
iii) Improve key return ratios like return on equity capital.
MOIL Ltd.
MOIL Bhawan, 1A, Katol Road,
Nagpur - 440013,
Nagpur - 440013, Maharashtra
Nagpur, Maharashtra, 440013
Lead Manager(s)
Registered Broker
The MOIL Buyback opens on January 28, 2022, and closes on February 10, 2022.
The MOIL Buyback last day to buy is not available as of now.
The MOIL Buyback is a Tender Offer.
MOIL Buyback Schedule
| Buyback Opening Date | January 28, 2022 |
| Buyback Closing Date | February 10, 2022 |
| Last Date for receipt of Tender Forms | February 12, 2022 |
| Finalisation of Buyback Acceptance | February 18, 2022 |
| Last Date for settlment of bids | February 21, 2022 |
| Last Date for Extinguishment of Shares | February 28, 2022 |
The MOIL Buyback is being offered at Rs ₹205 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 123 Equity Shares out of every 625 shares held on the record date. |
| General Category for all other Eligible Shareholders | 99 Equity Shares out of every 728 shares held on the record date. |
The issue size of MOIL Buyback is 3,38,42,668 equity shares at ₹205 per share aggregating up to ₹693.77 Crores.
The Buyback aims to :
i) Reduce outstanding number of equity shares and
consequently increase earnings per share and book value per share.
ii) Effectively utilize available cash; and
iii) Improve key return ratios like return on equity capital.
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 MOIL 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.
