Tender Offer | ₹100.00 Crores | Listed at BSE, NSE | Tue, Aug 20, 2024 - Mon, Aug 26, 2024
Navneet Education Ltd. Buyback is a tender offer for the repurchase of up to 0.50 crore equity shares, representing 2.21% of the total paid-up equity share capital at a buyback price of ₹200 per share with a face value of ₹2 per share, aggregating to ₹100.00 crores.
The record date for determining eligible shareholders is Aug 13, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 20, 2024 and closes on Aug 26, 2024, with the last date for receipt of tender forms being Aug 26, 2024.
The finalisation of buyback acceptance is expected on Aug 30, 2024, followed by settlement of bids on Sep 2, 2024.
Inga Ventures Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Ghalla Bhansali Stock Brokers Pvt Ltd is the Registered Broker to the Buyback.
Investors are advised to refer to the Navneet Education Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Aug 20, 2024
Offer Closing Date
Mon, Aug 26, 2024
Buyback Price
₹200 per share
Record Date
August 13, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 46 Equity Shares out of every 547 Fully paid-up Equity Shares held on the Record Date. | 750,000.00 |
| General Category for all other Eligible Shareholders | 10 Equity Shares out of every 509 Fully paid-up Equity Shares held on the Record Date. | 4,250,000.00 |
Navneet Education Limited's revenue increased by 3.1% and profit after tax (PAT) rose by 23.55% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,747.22 | 1,656.54 | 1,269.14 |
| Revenue | 1,764.68 | 1,711.57 | 1,133.11 |
| Profit After Tax | 251.74 | 203.76 | 74.35 |
| Net Worth | 1,279.01 | 1,149.81 | 1,126.37 |
| Reserves and Surplus | 1,326.83 | 1,307.34 | 1,081.90 |
| Amount in ₹ Crore | |||
Incorporated in 1959, Navneet Education Limited is a brand in India for educational content and a significant player in the publishing industry. The company produces stationery, general, and children's books in various Indian and foreign languages. It also operates 'The Orchid International School.'
The company has manufacturing units in Dantali, Silvassa, and Khaniwade, with warehouses at Khaniwade, Silvassa, and Ghuma Gujarat for storing finished goods.
The company's popular products and brands include Vikas workbooks, Gala practice books, Grafalco pre-primary books, YOUVA full-scapes, TOPClass digital educational solutions, and TOPScorer e-learning techniques.
The company has exported its products to countries such as Canada, the USA, Mexico, Jamaica, the UK, and Germany. Spain, Ethiopia, Kenya, Romania, Tanzania, New Zealand, U.A.E., Ivory Coast, France, Australia, Angola, Chile and so on.
In 2023, the company introduced the LMS Platform in the states of Maharashtra, Gujarat, Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Chhattisgah.
The company released workbooks for Classes 1, 2, and 3 in 2024, based on the latest NCERT syllabus and textbooks.
With over 2,500 employees, the company prioritizes excellence, creativity, and expertise. The 400+ authors, skilled editors, and dedicated quality-check team ensure high-quality educational content, shaping the future of global learning.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 153.90 | 137.80 | 145.61 |
| Mar-2024 | 155.00 | 128.90 | 143.45 |
| Feb-2024 | 166.45 | 144.80 | 154.69 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 153.85 | 138.00 | 145.55 |
| Mar-2024 | 155.15 | 129.00 | 143.49 |
| Feb-2024 | 167.70 | 145.00 | 154.81 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Navneet Education Ltd.
Navneet Bhavan, Bhavani Shankar Road
Near Shardashram Society, Dadar (W)
Mumbai-400028.
Mumbai, Maharashtra, 400028
Lead Manager(s)
Registered Broker
The Navneet Education Buyback 2024 opens on August 20, 2024, and closes on August 26, 2024.
Last date to be eligible to participate in buyback is August 12, 2024.
The Navneet Education Buyback 2024 is a Tender Offer.
Navneet Education Buyback 2024 Schedule
| Buyback Opening Date | August 20, 2024 |
| Buyback Closing Date | August 26, 2024 |
| Last Date for receipt of Tender Forms | August 26, 2024 |
| Finalisation of Buyback Acceptance | August 30, 2024 |
| Last Date for settlment of bids | September 2, 2024 |
| Last Date for Extinguishment of Shares | August 11, 2024 |
The Navneet Education Buyback 2024 is being offered at Rs ₹200 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 46 Equity Shares out of every 547 Fully paid-up Equity Shares held on the Record Date. | 750,000.00 |
| General Category for all other Eligible Shareholders | 10 Equity Shares out of every 509 Fully paid-up Equity Shares held on the Record Date. | 4,250,000.00 |
The issue size of Navneet Education Buyback 2024 is 50,00,000 equity shares at ₹200 per share aggregating up to ₹100.00 Crores.
The Buy-Back is being undertaken, inter-alia, for the following reasons:
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 Navneet Education Buyback 2024 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.
