Tender Offer | ₹185.00 Crores | Listed at BSE, NSE | Tue, Jun 11, 2024 - Tue, Jun 18, 2024
Sharda Motor Industries Ltd Buyback is a tender offer for the repurchase of up to 0.10 crore equity shares, representing 3.46% of the total paid-up equity share capital at a buyback price of ₹1800 per share with a face value of ₹2 per share, aggregating to ₹185.00 crores.
The record date for determining eligible shareholders is Jun 5, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 11, 2024 and closes on Jun 18, 2024, with the last date for receipt of tender forms being Jun 18, 2024.
The finalisation of buyback acceptance is expected on Jun 24, 2024, followed by settlement of bids on Jun 25, 2024.
Ambit Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Ambit Capital Pvt Ltd is the Registered Broker to the Buyback.
Investors are advised to refer to the Sharda Motor Industries Ltd Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Jun 11, 2024
Offer Closing Date
Tue, Jun 18, 2024
Buyback Price
₹1800 per share
Record Date
June 5, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 24 Fully paid-up Equity Shares held on the Record Date. | 154,167.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 33 Fully paid-up Equity Shares held on the Record Date. | 873,610.00 |
| Period Ended | 31 Mar 2024 | 31 Dec 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,388.93 | 1,065.73 | 972.73 | |
| Revenue | 2,897.12 | 2,741.67 | 2,284.85 | 1,757.99 |
| Profit After Tax | 294.90 | 205.43 | 161.49 | 78.59 |
| Net Worth | 1,025.12 | 781.82 | 599.77 | 445.45 |
| Reserves and Surplus | 541.65 | 356.69 | ||
| Amount in ₹ Crore | ||||
Founded in 1986, Sharda Motor Industries Limited (SMIL) is based in New Delhi, India. It specializes in the production, assembly, and distribution of automotive and white goods components to OEMs. SMIL is an ISO 9001-certified company with a wide range of products, including sheet metal components, exhaust systems, seat frames, fuel tanks, and other automotive components.
SMIL established an R&D centre in 2010 at Mahindra World City, 45 km from Chennai airport, to design, test, and validate exhaust systems for passenger vehicles, commercial vehicles, and non-automotive applications. In 2004, SMIL established a unit to supply Air Conditioner Cabinet assembly for Samsung India.
Sharda Motor is a manufacturer of a wide range of products that includes Exhaust Systems, Catalytic Converters, Independent Suspension, Seat Frames, Seat Covers (for Two-Wheelers and four-wheelers), Soft-Top Canopies, and Pressed parts for white goods. The company takes pride in meeting the needs of its customers promptly and accurately while maintaining the highest quality standards. They offer all their employees equal opportunities for development, advancement, and growth. Sharda Motor has modern manufacturing facilities with a continuous focus on innovation, technology upgradation, research, and development to provide the best products and services to their customers.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 1,644.00 | 1,364.80 | 1,496.78 |
| Mar-2024 | 1,438.00 | 1,167.05 | 1,288.51 |
| Feb-2024 | 1,571.00 | 1,311.80 | 1,424.16 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Apr-2024 | 1,641.85 | 1,364.25 | 1,496.39 |
| Mar-2024 | 1,462.50 | 1,165.05 | 1,288.85 |
| Feb-2024 | 1,571.90 | 1,308.15 | 1,423.96 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
Sharda Motor Industries Ltd
D-188, Okhla Industrial Area,
Phase-I
New Delhi-110020
New Delhi, New Delhi, 110020
Lead Manager(s)
Registered Broker
The Sharda Motor Industries Buyback 2024 opens on June 11, 2024, and closes on June 18, 2024.
Last date to be eligible to participate in buyback is June 4, 2024.
The Sharda Motor Industries Buyback 2024 is a Tender Offer.
Sharda Motor Industries Buyback 2024 Schedule
| Buyback Opening Date | June 11, 2024 |
| Buyback Closing Date | June 18, 2024 |
| Last Date for receipt of Tender Forms | June 18, 2024 |
| Finalisation of Buyback Acceptance | June 24, 2024 |
| Last Date for settlment of bids | June 25, 2024 |
| Last Date for Extinguishment of Shares | July 4, 2024 |
The Sharda Motor Industries Buyback 2024 is being offered at Rs ₹1800 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 24 Fully paid-up Equity Shares held on the Record Date. | 154,167.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 33 Fully paid-up Equity Shares held on the Record Date. | 873,610.00 |
The issue size of Sharda Motor Industries Buyback 2024 is 10,27,777 equity shares at ₹1800 per share aggregating up to ₹185.00 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 Sharda Motor Industries 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.
