Tender Offer | ₹19.79 Crores | Listed at BSE | Tue, Feb 6, 2024 - Mon, Feb 12, 2024
Rajoo Engineers Ltd. Buyback is a tender offer for the repurchase of up to 0.09 crore equity shares, representing 1.53% of the total paid-up equity share capital at a buyback price of ₹210 per share with a face value of ₹1 per share, aggregating to ₹19.79 crores.
The record date for determining eligible shareholders is Jan 31, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Feb 6, 2024 and closes on Feb 12, 2024, with the last date for receipt of tender forms being Feb 12, 2024.
The finalisation of buyback acceptance is expected on Feb 16, 2024, followed by settlement of bids on Feb 20, 2024.
GYR Capital Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and SMC Global Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Rajoo Engineers Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Feb 6, 2024
Offer Closing Date
Mon, Feb 12, 2024
Buyback Price
₹210 per share
Record Date
January 31, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 141,345.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 800,955.00 |
Rajoo Engineers Limited's revenue decreased by -7.09% and profit after tax (PAT) dropped by -32.31% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 173.85 | 147.72 | 146.14 | |
| Revenue | 86.89 | 162.58 | 174.99 | 152.83 |
| Profit After Tax | 7.75 | 10.02 | 14.80 | 10.40 |
| Net Worth | 107.09 | 101.75 | 93.27 | 78.48 |
| Total Borrowing | 2.51 | 1.52 | 0.28 | 3.09 |
| Amount in ₹ Crore | ||||
Incorporated in 1986, Rajoo Engineers Limited designs and manufactures blown film lines, sheet lines, and thermoformers.
The company's product portfolio includes Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two extruder 3 layer ABA blown film line, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules, and Single and twin screw extrusion system.
The company's manufacturing unit is located in Veraval (Shapar), in the district of Rajkot, Gujarat. Rajoo Engineers employs over 312 employees as of December 31, 2023.
Awards and accolades:
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2024 | 212.00 | 184.80 | 198.79 |
| Dec-2023 | 234.30 | 173.10 | 204.38 |
| Nov-2023 | 169.75 | 115.35 | 140.64 |
Buyback is being undertaken, inter-alia, for the following reasons:
Rajoo Engineers Ltd.
Rajoo Avenue Survey No. 210,
Plot No. 1, Industrial Area, Veraval (Shapar),
Dist-Rajkot - 360 024
Rajkot, Gujarat, 360024
Lead Manager(s)
Registered Broker
The Rajoo Engineers Buyback 2023 opens on February 6, 2024, and closes on February 12, 2024.
Last date to be eligible to participate in buyback is January 30, 2024.
The Rajoo Engineers Buyback 2023 is a Tender Offer.
Rajoo Engineers Buyback 2023 Schedule
| Buyback Opening Date | February 6, 2024 |
| Buyback Closing Date | February 12, 2024 |
| Last Date for receipt of Tender Forms | February 12, 2024 |
| Finalisation of Buyback Acceptance | February 16, 2024 |
| Last Date for settlment of bids | February 20, 2024 |
| Last Date for Extinguishment of Shares | February 29, 2024 |
The Rajoo Engineers Buyback 2023 is being offered at Rs ₹210 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 141,345.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 800,955.00 |
The issue size of Rajoo Engineers Buyback 2023 is 9,42,300 equity shares at ₹210 per share aggregating up to ₹19.79 Crores.
Buyback 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 Rajoo Engineers 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.
