Tender Offer | ₹121.67 Crores | Listed at BSE, NSE | Thu, Jun 2, 2022 - Wed, Jun 15, 2022
Sarda Energy & Minerals Ltd. Buyback is a tender offer for the repurchase of up to 0.08 crore equity shares at a buyback price of ₹1500 per share with a face value of ₹10 per share, aggregating to ₹121.67 crores.
The record date for determining eligible shareholders is May 6, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 2, 2022 and closes on Jun 15, 2022, with the last date for receipt of tender forms being Jun 15, 2022.
The finalisation of buyback acceptance is expected on Jun 24, 2022, followed by settlement of bids on Jun 27, 2022.
Hem Securities Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Hem Finlease Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Sarda Energy & Minerals Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Jun 2, 2022
Offer Closing Date
Wed, Jun 15, 2022
Buyback Price
₹1500 per share
Record Date
May 6, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 101 Equity Share out of every 823 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 6 Equity Share out of every 299 Fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Crores) | |||
|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 2,871.85 | 2,343.27 | 1983.22 | 2340.74 |
| Profit After Tax | 603.52 | 376.42 | 135.54 | 207.13 |
| Net Worth | 2,789.34 | 2221.25 | 1867.39 | 1743.43 |
| Reserves and Surplus | 2,753.29 | 2185.20 | 1831.34 | 1707.38 |
Incorporated in 1973, Sarda Energy & Minerals Limited is a manufacturer and exporter of Steel and Ferro Alloys. The company produces Sponge Iron, Billets, Ferro Alloys, Manganese ore, Thermal and Solar Power, Pellets, Iron Ore, Wire Rod Mill, Eco Bricks, etc. Sarda Energy & Minerals Limited is headquartered in Raipur, Chhattisgarh.
Sarda Energy & Minerals Limited has a DRI capacity of 360,000 MT per year, a crude steel capacity of 240,000 MTPA and an annual production capacity of 82,500 MT.
Sarda Energy & Minerals Limited (SEML) has customers in more than 60 countries, both domestically and internationally. SEML is one of India's top exporters of Ferro Alloys.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Mar-2022 | 1,195.60 | 847.70 | 1,058.66 |
| Feb-2022 | 959.45 | 730.00 | 843.03 |
| Jan-2022 | 875.00 | 758.00 | 807.21 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Mar-2022 | 1,197.60 | 845.05 | 1,059.86 |
| Feb-2022 | 960.00 | 727.05 | 843.90 |
| Jan-2022 | 877.00 | 756.80 | 807.47 |
The buyback is being undertaken for the following reasons:
1. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the company.
Sarda Energy & Minerals Ltd.
Industrial Growth Center,
Siltara,
RAIPUR – 493 111
Raipur, Chhattisgarh, 493111
Lead Manager(s)
Registered Broker
The Sarda Energy & Minerals Buyback opens on June 2, 2022, and closes on June 15, 2022.
The Sarda Energy & Minerals Buyback last day to buy is not available as of now.
The Sarda Energy & Minerals Buyback is a Tender Offer.
Sarda Energy & Minerals Buyback Schedule
| Buyback Opening Date | June 2, 2022 |
| Buyback Closing Date | June 15, 2022 |
| Last Date for receipt of Tender Forms | June 15, 2022 |
| Finalisation of Buyback Acceptance | June 24, 2022 |
| Last Date for settlment of bids | June 27, 2022 |
| Last Date for Extinguishment of Shares | July 4, 2022 |
The Sarda Energy & Minerals Buyback is being offered at Rs ₹1500 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 101 Equity Share out of every 823 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 6 Equity Share out of every 299 Fully paid-up Equity Shares held on the Record Date. |
The issue size of Sarda Energy & Minerals Buyback is 8,11,108 equity shares at ₹1500 per share aggregating up to ₹121.67 Crores.
The buyback is being undertaken for the following reasons:
1. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help 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 Sarda Energy & Minerals 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.
