Tender Offer | ₹36.45 Crores | Listed at BSE, NSE | Thu, Aug 22, 2024 - Wed, Aug 28, 2024
Savita Oil Technologies Ltd. Buyback is a tender offer for the repurchase of up to 0.05 crore equity shares at a buyback price of ₹675 per share with a face value of ₹2 per share, aggregating to ₹36.45 crores.
The record date for determining eligible shareholders is Aug 16, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 22, 2024 and closes on Aug 28, 2024, with the last date for receipt of tender forms being Aug 28, 2024.
The finalisation of buyback acceptance is expected on Sep 2, 2024, followed by settlement of bids on Sep 4, 2024.
Saffron Capital Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Choice Equity Broking Pvt Ltd 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, Aug 22, 2024
Offer Closing Date
Wed, Aug 28, 2024
Buyback Price
₹675 per share
Record Date
August 16, 2024
Savita Oil Technologies Limited's revenue increased by 4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||
| Revenue | 3,812.09 | 3,653.37 | 2,969.19 | |||||||||||||||||||||||||||
| Profit After Tax | 200.76 | 225.7 | 260.49 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Savita Oil Technologies Limited, formerly known as Savita Chemicals Limited, was incorporated in July 1961 and is engaged in the manufacture and marketing of petroleum specialty products such as transformer oils, white oils, lubricating oils, industrial oils, greases etc.
The company has manufacturing facilities in Sakinaka, Mumbai; Turbhe, Mumbai; Kharadpada, Silvassa; and Mahad, an industrial development zone in Maharashtra.
The company distributes its products in the domestic and international markets. Savita Oil Technologies launched its lubricating oil brand SAVSOL in the domestic retail market in 2007. The company supplies transformer oil to most of the electricity boards and major transformer manufacturers, lubricating oils to most of the leading two wheeler OEMs (Original Equipment Manufacturers) and white oils to the leading FMCG companies and has carved a niche for quality products over the years.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 642.05 | 555.30 | 606.41 |
| Jun-2024 | 572.00 | 455.45 | 521.33 |
| May-2024 | 584.35 | 496.05 | 530.29 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 642.15 | 555.45 | 606.48 |
| Jun-2024 | 571.60 | 455.95 | 521.35 |
| May-2024 | 584.60 | 496.65 | 527.58 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Savita Oil Technologies Ltd.
66/67, Nariman Bhavan,
Nariman Point,
Mumbai - 400 021
Mumbai, Maharashtra, 400021
Lead Manager(s)
Registered Broker
The Savita Oil Technologies Buyback 2024 opens on August 22, 2024, and closes on August 28, 2024.
Last date to be eligible to participate in buyback is August 14, 2024.
The Savita Oil Technologies Buyback 2024 is a Tender Offer.
Savita Oil Technologies Buyback 2024 Schedule
| Buyback Opening Date | August 22, 2024 |
| Buyback Closing Date | August 28, 2024 |
| Last Date for receipt of Tender Forms | August 28, 2024 |
| Finalisation of Buyback Acceptance | September 2, 2024 |
| Last Date for settlment of bids | September 4, 2024 |
| Last Date for Extinguishment of Shares | September 12, 2024 |
The Savita Oil Technologies Buyback 2024 is being offered at Rs ₹675 per share.
The issue size of Savita Oil Technologies Buyback 2024 is 5,40,000 equity shares at ₹675 per share aggregating up to ₹36.45 Crores.
The Buy-Back 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 Savita Oil Technologies Buyback 2024 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.
