Tender Offer | ₹85.00 Crores | Listed at BSE, NSE | Fri, Jan 14, 2022 - Fri, Jan 28, 2022
MPS Ltd. Buyback is a tender offer for the repurchase of up to 0.09 crore equity shares at a buyback price of ₹900 per share with a face value of ₹10 per share, aggregating to ₹85.00 crores.
The record date for determining eligible shareholders is Dec 17, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jan 14, 2022 and closes on Jan 28, 2022, with the last date for receipt of tender forms being Jan 31, 2022.
The finalisation of buyback acceptance is expected on Feb 8, 2022, followed by settlement of bids on Feb 8, 2022.
Ernst & Young Merchant Banking Services LLP is the Manager to the Buyback and Cameo Corporate Services Ltd. is the Registrar to the Buyback.
Investors are advised to refer to the MPS Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Jan 14, 2022
Offer Closing Date
Fri, Jan 28, 2022
Buyback Price
₹900 per share
Record Date
December 17, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 15 Equity Shares out of every 82 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 43 Equity 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 | 4,324.2 | 3,516.3 | 3,878.0 |
| Profit After Tax | 585.6 | 598.6 | 760.4 |
| Net Worth | 3,747.5 | 3,583.8 | 4,695.0 |
MPS Limited was established as an Indian subsidiary of Macmillan (Holdings) Limited in 1970. The company is primarily engaged in publishing information processing and e-business. The company's business is divided into 3 major segments: Content solutions, Platform solutions, and Learning solutions. MPS has partnered with leading enterprises, learning companies, publishers, libraries, and content aggregators globally.
MPS has a market capitalization of around INR 700 crores and employs more than 2,700 professionals. MPS has 7 delivery centers in India, 4 offices in Europe, and 6 client-servicing offices in the US.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 746.30 | 674.45 | 709.27 |
| Oct-2021 | 745.00 | 658.30 | 691.44 |
| Sep-2021 | 734.00 | 657.50 | 695.77 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 779.00 | 675.35 | 709.71 |
| Oct-2021 | 746.60 | 636.05 | 691.20 |
| Sep-2021 | 730.00 | 662.00 | 696.11 |
The Buyback aims to:
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like earnings per share, return on capital employed, and return on equity, by reducing the equity base of the Company.
MPS Ltd.
RR Towers IV, Super A, 16/17,
Thiru Vi Ka Industrial Estate, Guindy,
Chennai-600 032, Tamil Nadu
Chennai, Tamil Nadu, 600032
The MPS Buyback opens on January 14, 2022, and closes on January 28, 2022.
The MPS Buyback last day to buy is not available as of now.
The MPS Buyback is a Tender Offer.
MPS Buyback Schedule
| Buyback Opening Date | January 14, 2022 |
| Buyback Closing Date | January 28, 2022 |
| Last Date for receipt of Tender Forms | January 31, 2022 |
| Finalisation of Buyback Acceptance | February 8, 2022 |
| Last Date for settlment of bids | February 8, 2022 |
| Last Date for Extinguishment of Shares | February 15, 2022 |
The MPS Buyback is being offered at Rs ₹900 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 15 Equity Shares out of every 82 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 43 Equity Shares held on the Record Date. |
The issue size of MPS Buyback is 9,44,444 equity shares at ₹900 per share aggregating up to ₹85.00 Crores.
The Buyback aims to:
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like earnings per share, return on capital employed, and return on equity, by reducing the equity base 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 MPS 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.
