Tender Offer | ₹72.35 Crores | Listed at BSE, NSE | Mon, Sep 9, 2024 - Fri, Sep 13, 2024
Nucleus Software Exports Ltd. Buyback is a tender offer for the repurchase of up to 0.04 crore equity shares, representing 1.67% of the total paid-up equity share capital at a buyback price of ₹1615 per share with a face value of ₹10 per share, aggregating to ₹72.35 crores.
The record date for determining eligible shareholders is Sep 3, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 9, 2024 and closes on Sep 13, 2024, with the last date for receipt of tender forms being Sep 13, 2024.
The finalisation of buyback acceptance is expected on Sep 20, 2024, followed by settlement of bids on Sep 23, 2024.
Corporate Professionals Capital Pvt.Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Bharat Bhushan Equity Traders Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Nucleus Software Exports Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Sep 9, 2024
Offer Closing Date
Fri, Sep 13, 2024
Buyback Price
₹1615 per share
Record Date
September 3, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 50 Fully paid-up Equity Shares held on the Record Date. | 67,203 |
| General Category for all other Eligible Shareholders | 8 Equity Shares out of every 497 Fully paid-up Equity Shares held on the Record Date. | 3,80,815 |
Nucleus Software Exports Ltd.'s revenue increased by 31% and profit after tax (PAT) rose by 50% 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 | 1,114.02 | 874.18 | 736.94 | |||||||||||||||||||||||||||
| Revenue | 877.35 | 668.52 | 531.85 | |||||||||||||||||||||||||||
| Profit After Tax | 191.6 | 127.79 | 40.91 | |||||||||||||||||||||||||||
| Net Worth | 750.67 | 583.89 | 466.83 | |||||||||||||||||||||||||||
| Reserves and Surplus | 777.44 | 610.66 | 493.6 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Incorporated in 1986, Nucleus Software Exports Limited provides lending and transaction banking products and services. Major company products include lending, transaction banking, digital channels, business analytics, and financial inclusion products. Company services include - Professional, Application, and Managed Infrastructure Services.
Nucleus Software also provides solutions to customers in the areas of Managed Infrastructure Services and Application Development & Maintenance.
The company has two flagship products:
FinnOne Neo- an end-to-end solution for Loan Lifecycle Management.
FinnAxia- an integrated global transaction banking solution for corporate banks.
The company's software supports the operations of more than 200 Financial Institutions across 50 countries, serving retail lending, corporate banking, cash management, mobile and internet banking, automotive finance, and other business areas.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,644.95 | 1,368.95 | 1,497.80 |
| Jun-2024 | 1,512.00 | 1,101.55 | 1,299.43 |
| May-2024 | 1,460.00 | 1,144.00 | 1,315.50 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,645.00 | 1,370.00 | 1,497.60 |
| Jun-2024 | 1,523.40 | 1,104.10 | 1,307.29 |
| May-2024 | 1,474.70 | 1,140.00 | 1,316.19 |
The current Buyback is a capital allocation decision taken to seek a fairer valuation of the Company's stock while improving the Company's Return on Equity and increasing shareholder value in the longer term. The Buyback is being undertaken by the Company after taking into account the strategic and operational cash needs of the Company in the medium term and thereby returning surplus funds to the equity shareholders, which are over and above its ordinary capital requirements and over any current investment plans, in an expedient, effective and cost-efficient manner. The Buyback is being undertaken for the following reasons:
Nucleus Software Exports Ltd.
33-35,
THYAGRAJ NAGAR MARKET
NEW DELHI-110003
New Delhi, New Delhi, 110003
Lead Manager(s)
Registered Broker
The Nucleus Software Buyback 2024 opens on September 9, 2024, and closes on September 13, 2024.
Last date to be eligible to participate in buyback is September 2, 2024.
The Nucleus Software Buyback 2024 is a Tender Offer.
Nucleus Software Buyback 2024 Schedule
| Buyback Opening Date | September 9, 2024 |
| Buyback Closing Date | September 13, 2024 |
| Last Date for receipt of Tender Forms | September 13, 2024 |
| Finalisation of Buyback Acceptance | September 20, 2024 |
| Last Date for settlment of bids | September 23, 2024 |
| Last Date for Extinguishment of Shares | October 3, 2024 |
The Nucleus Software Buyback 2024 is being offered at Rs ₹1615 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 50 Fully paid-up Equity Shares held on the Record Date. | 67,203 |
| General Category for all other Eligible Shareholders | 8 Equity Shares out of every 497 Fully paid-up Equity Shares held on the Record Date. | 3,80,815 |
The issue size of Nucleus Software Buyback 2024 is 4,48,018 equity shares at ₹1615 per share aggregating up to ₹72.35 Crores.
The current Buyback is a capital allocation decision taken to seek a fairer valuation of the Company's stock while improving the Company's Return on Equity and increasing shareholder value in the longer term. The Buyback is being undertaken by the Company after taking into account the strategic and operational cash needs of the Company in the medium term and thereby returning surplus funds to the equity shareholders, which are over and above its ordinary capital requirements and over any current investment plans, in an expedient, effective and cost-efficient manner. The Buyback is being undertaken 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 Nucleus Software 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.
