Tender Offer | ₹1,750.00 Crores | Listed at BSE, NSE | Thu, Aug 31, 2023 - Wed, Sep 6, 2023
Piramal Enterprises Ltd. Buyback is a tender offer for the repurchase of up to 1.40 crore equity shares at a buyback price of ₹1250 per share with a face value of ₹2 per share, aggregating to ₹1,750.00 crores.
The record date for determining eligible shareholders is Aug 25, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 31, 2023 and closes on Sep 6, 2023, with the last date for receipt of tender forms being Sep 6, 2023.
The finalisation of buyback acceptance is expected on Sep 12, 2023, followed by settlement of bids on Sep 13, 2023.
JM Financial Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and JM Financial Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Piramal Enterprises Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 31, 2023
Offer Closing Date
Wed, Sep 6, 2023
Buyback Price
₹1250 per share
Record Date
August 25, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 2,100,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 19 Fully paid-up Equity Shares held on the Record Date. | 11,900,000.00 |
| Period Ended | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 33,330.77 | 33,104.03 |
| Revenue | 2,820.22 | 4,837.13 |
| Profit After Tax | 997.68 | 14,333.30 |
| Net Worth | ||
| Reserves and Surplus | ||
| Total Borrowing |
Incorporated in 1947, Piramal Enterprises Limited (PEL) is one of India's leading diversified non-banking financial companies (NBFC). The company has assets worth 10 billion.
Piramal Enterprises Limited is an integral part of the Piramal Group. The Group operates through its various companies and offers a wide variety of products and services. These companies include - Piramal Pharma Limited, Piramal Realty, Piramal Pharma Limited, and Piramal Foundation.
Piramal Enterprises Limited has a network of over 400 branches across 26 states and Union Territories. They are offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms, and investments.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 1,115.20 | 915.60 | 985.14 |
| Jun-2023 | 976.50 | 765.65 | 837.01 |
| May-2023 | 785.00 | 716.00 | 752.95 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 1,115.40 | 915.30 | 985.18 |
| Jun-2023 | 977.20 | 770.00 | 836.93 |
| May-2023 | 785.00 | 716.00 | 752.86 |
The Buy Back is being proposed by the Company to fulfill the following objectives:
Piramal Enterprises Ltd.
Piramal Ananta, Agastya Corporate Park,
Opposite Fire Brigade, Kamani Junction, LBS Marg,
Kurla (West), Mumbai - 400070
Mumbai, Maharashtra, 400070
Lead Manager(s)
Registered Broker
The Piramal Enterprises Buyback 2023 opens on August 31, 2023, and closes on September 6, 2023.
Last date to be eligible to participate in buyback is August 24, 2023.
The Piramal Enterprises Buyback 2023 is a Tender Offer.
Piramal Enterprises Buyback 2023 Schedule
| Buyback Opening Date | August 31, 2023 |
| Buyback Closing Date | September 6, 2023 |
| Last Date for receipt of Tender Forms | September 6, 2023 |
| Finalisation of Buyback Acceptance | September 12, 2023 |
| Last Date for settlment of bids | September 13, 2023 |
| Last Date for Extinguishment of Shares | September 25, 2023 |
The Piramal Enterprises Buyback 2023 is being offered at Rs ₹1250 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 2,100,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 19 Fully paid-up Equity Shares held on the Record Date. | 11,900,000.00 |
The issue size of Piramal Enterprises Buyback 2023 is 1,40,00,000 equity shares at ₹1250 per share aggregating up to ₹1,750.00 Crores.
The Buy Back is being proposed by the Company to fulfill the following objectives:
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 Piramal Enterprises Buyback 2023 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.
