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Pennar Industries is one of the leading value-added engineering products and solutions company in India. It has a significant market presence in Infrastructure, Automobiles, Power, General Engineering, and Building & Construction sectors.
Its product portfolio consists of more than 1000 precision engineering products, and 2500 tools & dies. Currently, the firm has 8 manufacturing plants at Patancheru, Sadashivpet, lsnapur, Velchal, and Mallapur near Hyderabad, Chennai in Tamil Nadu and Tarapur in Maharashtra.
| Issue Period | Mar 23, 2022 - Sep 22, 2022 |
| Security Name | Pennar Industries Limited |
| Issue Type | Open Market Through Stock Exchange |
| Issue Size (Amount) | ₹40.00 Crores |
| Buyback Price | ₹50 per share |
| Face Value | ₹5 per share |
| Listing At | BSE, NSE |
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 15,440.10 | 21,268.30 | 21,598.50 |
| Profit After Tax | 28.40 | 534.00 | 666.60 |
| Net Worth | 6,958.30 | 7,003.30 | 6,674.90 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 45.85 | 31.85 | 39.85 |
| Jan-2022 | 45.75 | 34 | 38.69 |
| Dec-2021 | 35.85 | 27.65 | 31.21 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 45.75 | 31.7 | 39.87 |
| Jan-2022 | 45.85 | 33.95 | 38.69 |
| Dec-2021 | 35.95 | 27.8 | 31.21 |
The buyback aims to utilize the net proceeds towards the following objectives:
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Pennar Industries Limited
3 Floor, DHFLVC Silicon Towers, Kondapur,
Hyderabad - 500 084
Phone: +91 40 41923108
Email: corporatecommunications@pennarindia.com
Website: http://www.pennarindia.com
KFin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: pil.buyback@kfintech.com
Website: https://karisma.kfintech.com/
Lead Manager(s)
Registered Broker
The Pennar Industries Buyback opens on Mar 23, 2022, and closes on Sep 22, 2022.
The Pennar Industries Buyback is a Open Market Through Stock Exchange.
Pennar Industries Buyback Schedule
| Buyback Opening Date | Mar 23, 2022 |
| Buyback Closing Date | Sep 22, 2022 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Pennar Industries Buyback is being offered at Rs ₹50 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 Pennar Industries Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹40.00 Crores with pricing of Rs.₹50 per share.
The buyback aims to utilize the net proceeds towards the following objectives:
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 Pennar Industries 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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I am new to buyback type of investing.Can you please explain why it is risky ?