Tender Offer | ₹8.00 Crores | Listed at BSE | Tue, Oct 5, 2021 - Wed, Oct 20, 2021
Rishiroop Ltd. Buyback is a tender offer for the repurchase of up to 0.06 crore equity shares at a buyback price of ₹125 per share with a face value of ₹10 per share, aggregating to ₹8.00 crores.
The record date for determining eligible shareholders is Sep 9, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Oct 5, 2021 and closes on Oct 20, 2021, with the last date for receipt of tender forms being Oct 22, 2021.
The finalisation of buyback acceptance is expected on Oct 28, 2021, followed by settlement of bids on Oct 29, 2021.
Inga Ventures Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and ITI Securities Broking Ltd. is the Registered Broker to the Buyback.
Investors are advised to refer to the Rishiroop Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Oct 5, 2021
Offer Closing Date
Wed, Oct 20, 2021
Buyback Price
₹125 per share
Record Date
September 9, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 57 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 6 Equity Shares out of every 95 fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-March-21 | 31-March-20 | 31-March-19 | |
| Total Income | 660.70 | 413.18 | 629.91 |
| Profit After Tax | 299.99 | (28.41) | 73.01 |
| Net Worth | 827.49 | 574.99 | 629.09 |
Established in 1984, Rishiroop Limited is engaged in the manufacturing of polymer blends, consumed mainly by the medium and small-scale sector. These polymer blends are used in the manufacture of petrol hoses, LPG tubing, O-rings, seals & gaskets, printing & textile rollers, cable sheathing, automotive components, etc. Besides Polymer blends, the company also sells other complementary products sourced from abroad.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2021 | 100.50 | 92.10 | 95.32 |
| Jun-2021 | 113.00 | 92.00 | 101.58 |
| May-2021 | 120.10 | 86.50 | 99.54 |
The Buyback aims to:
i) help the Company to distribute surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
iii) in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the Company.
Rishiroop Ltd.
W-75(A), W-76(A),
MIDC Industrial Area,
Satpur, Nasik-422007, Maharashtra
Lead Manager(s)
Registered Broker
The Rishiroop Limited Buyback opens on October 5, 2021, and closes on October 20, 2021.
The Rishiroop Limited Buyback last day to buy is not available as of now.
The Rishiroop Limited Buyback is a Tender Offer.
Rishiroop Limited Buyback Schedule
| Buyback Opening Date | October 5, 2021 |
| Buyback Closing Date | October 20, 2021 |
| Last Date for receipt of Tender Forms | October 22, 2021 |
| Finalisation of Buyback Acceptance | October 28, 2021 |
| Last Date for settlment of bids | October 29, 2021 |
| Last Date for Extinguishment of Shares | November 5, 2021 |
The Rishiroop Limited Buyback is being offered at Rs ₹125 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 57 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 6 Equity Shares out of every 95 fully paid-up Equity Shares held on the Record Date. |
The issue size of Rishiroop Limited Buyback is 6,40,000 equity shares at ₹125 per share aggregating up to ₹8.00 Crores.
The Buyback aims to:
i) help the Company to distribute surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
iii) in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the Company.
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 Rishiroop Limited 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.
