Tender Offer | ₹35.14 Crores | Listed at BSE, NSE | Thu, Apr 15, 2021 - Thu, Apr 29, 2021
Savita Oil Technologies Ltd. Buyback is a tender offer for the repurchase of up to 0.03 crore equity shares at a buyback price of ₹1400 per share with a face value of ₹10 per share, aggregating to ₹35.14 crores.
The record date for determining eligible shareholders is Mar 5, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Apr 15, 2021 and closes on Apr 29, 2021, with the last date for receipt of tender forms being May 3, 2021.
The finalisation of buyback acceptance is expected on May 7, 2021, followed by settlement of bids on May 10, 2021.
ITI Capital Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and FRR Shares and Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Savita Oil Technologies Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Apr 15, 2021
Offer Closing Date
Thu, Apr 29, 2021
Buyback Price
₹1400 per share
Record Date
March 5, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 21 Equity Shares held on the Record Date |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 62 Equity Shares held on the Record Date |
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 2,05,778.42 | 2,28,091.73 | 1,83,418.04 |
| Profit After Tax | 9,564.24 | 11,427.01 | 12,619.59 |
| Net Worth | 86,858.47 | 85,160.48 | 74,230.93 |
Incorporated in July 1961 as Stauffer Chemicals Private Limited, the Company's name was changed to Savita Oil Technologies Limited in May 2009 to reflect its core line of business activities.
The Company is engaged in the manufacturing and marketing of petroleum specialty products like transformer oils, white oils, lubricating oils, industrial oils, greases, etc. The Company has also set up several windmills (ranging in capacities from 350 KW to 1650 KW) in Maharashtra, Karnataka, and Tamil Nadu to generate wind energy.
The Company sells its products in the domestic and international markets. Savita Oil Technologies launched its lubricating oil brand SAVSOL in the retail domestic market in 2007. The Company supplies; Transformer Oil to most of the electricity boards and big transformer manufacturers, Lubricating Oils to most of the leading two-wheeler OEMs (Original Equipment Manufacturers), and White Oils to the top FMCG companies and has developed a niche for quality products over the years.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 745.00 | 655.10 | 700.14 |
| Dec-2020 | 800.00 | 695.00 | 724.13 |
| Nov-2020 | 784.00 | 670.00 | 688.31 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 742.00 | 655.00 | 699.84 |
| Dec-2020 | 845.70 | 691.00 | 723.66 |
| Nov-2020 | 790.00 | 664.95 | 689.62 |
The Buy-back is being undertaken by the Company to:
i) To enhance the equity shareholders returns; and
ii) To improve financial ratios like earnings per share, return on equity, by reduction in the equity base.
Savita Oil Technologies Ltd.
66/67, Nariman Bhavan,
Nariman Point,
Mumbai – 400021
Mumbai, Maharashtra, 400021
Lead Manager(s)
Registered Broker
The Savita Oil Buyback opens on April 15, 2021, and closes on April 29, 2021.
The Savita Oil Buyback last day to buy is not available as of now.
The Savita Oil Buyback is a Tender Offer.
Savita Oil Buyback Schedule
| Buyback Opening Date | April 15, 2021 |
| Buyback Closing Date | April 29, 2021 |
| Last Date for receipt of Tender Forms | May 3, 2021 |
| Finalisation of Buyback Acceptance | May 7, 2021 |
| Last Date for settlment of bids | May 10, 2021 |
| Last Date for Extinguishment of Shares | May 17, 2021 |
The Savita Oil Buyback is being offered at Rs ₹1400 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 21 Equity Shares held on the Record Date |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 62 Equity Shares held on the Record Date |
The issue size of Savita Oil Buyback is 2,51,000 equity shares at ₹1400 per share aggregating up to ₹35.14 Crores.
The Buy-back is being undertaken by the Company to:
i) To enhance the equity shareholders returns; and
ii) To improve financial ratios like earnings per share, return on equity, by reduction in the equity base.
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 Savita Oil 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.
