Tender Offer | ₹60.90 Crores | Listed at BSE, NSE | Wed, Dec 15, 2021 - Tue, Dec 28, 2021
S H Kelkar and Company Ltd. Buyback is a tender offer for the repurchase of up to 0.29 crore equity shares at a buyback price of ₹210 per share with a face value of ₹10 per share, aggregating to ₹60.90 crores.
The record date for determining eligible shareholders is Nov 12, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Dec 15, 2021 and closes on Dec 28, 2021, with the last date for receipt of tender forms being Dec 28, 2021.
The finalisation of buyback acceptance is expected on Jan 5, 2022, followed by settlement of bids on Jan 6, 2022.
Keynote Financial Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Keynote Capitals Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the S H Kelkar and Company Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Dec 15, 2021
Offer Closing Date
Tue, Dec 28, 2021
Buyback Price
₹210 per share
Record Date
November 12, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 17 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 109 fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 (Unaudited) | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 3,724.90 | 7,954.40 | 7,290.00 | 7,129.20 |
| Profit After Tax | 155.90 | 797.10 | 319.20 | 449.70 |
| Net Worth | 6,403.70 | 6,349.70 | 5,687.30 | 5,965.50 |
| Reserves and Surplus | 4,990.50 | 4,936.50 | 4,274.10 | 4,519.30 |
Incorporated in 1922, S H Kelkar and Company Limited is engaged in the manufacturing of industrial perfumes. The fragrances and flavors manufactured by the company are part of several bestselling brands all over the world. The Kelkar group is now known as Keva.
S H Kelkar has three manufacturing facilities across India located at Vapi, Vashivali, and Mulund, and one in Barneveld, Netherlands. The flavors and fragrances of the company are compliant with global regulatory standards and adhere to FSSC (Food Safety Standard Certification), FSSAI (Food Safety and Standards Authority of India) certifications.
S H Kelkar's offerings include a wide range of fragrances used across multiple product categories like Skincare and cosmetics, Fabric care, Personal care, Haircare, Household products, and Fine fragrances. The company also offers a wide range of flavoring solutions, aroma ingredients, and a range of biotechnology research and cosmetic ingredients testing services.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 167.90 | 142.20 | 155.30 |
| Sep-2021 | 175.10 | 145.20 | 162.20 |
| Aug-2021 | 182.00 | 134.85 | 155.11 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 166.40 | 142.00 | 155.28 |
| Sep-2021 | 175.50 | 148.25 | 162.27 |
| Aug-2021 | 182.20 | 135.00 | 155.10 |
The Buyback aims to :
i) Reward the shareholders.
ii) Optimize the capital structure
S H Kelkar and Company Ltd.
36, Devkaran Mansion,
Mangaldas Road, Mumbai - 400002
Mumbai, Maharashtra, 400002
Lead Manager(s)
Registered Broker
The S H Kelkar Buyback opens on December 15, 2021, and closes on December 28, 2021.
The S H Kelkar Buyback last day to buy is not available as of now.
The S H Kelkar Buyback is a Tender Offer.
S H Kelkar Buyback Schedule
| Buyback Opening Date | December 15, 2021 |
| Buyback Closing Date | December 28, 2021 |
| Last Date for receipt of Tender Forms | December 28, 2021 |
| Finalisation of Buyback Acceptance | January 5, 2022 |
| Last Date for settlment of bids | January 6, 2022 |
| Last Date for Extinguishment of Shares | January 13, 2022 |
The S H Kelkar Buyback is being offered at Rs ₹210 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 17 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 109 fully paid-up Equity Shares held on the Record Date. |
The issue size of S H Kelkar Buyback is 29,00,000 equity shares at ₹210 per share aggregating up to ₹60.90 Crores.
The Buyback aims to :
i) Reward the shareholders.
ii) Optimize the capital structure
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 S H Kelkar 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.
