Tender Offer | ₹30.40 Crores | Listed at BSE | Fri, Oct 6, 2023 - Thu, Oct 12, 2023
Sinclairs Hotels Ltd. Buyback is a tender offer for the repurchase of up to 0.15 crore equity shares at a buyback price of ₹200 per share with a face value of ₹2 per share, aggregating to ₹30.40 crores.
The record date for determining eligible shareholders is Sep 29, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Oct 6, 2023 and closes on Oct 12, 2023, with the last date for receipt of tender forms being Oct 12, 2023.
The finalisation of buyback acceptance is expected on Oct 18, 2023, followed by settlement of bids on Oct 19, 2023.
SKP Securities Ltd. is the Manager to the Buyback and Niche Technologies Pvt.Ltd. is the Registrar and Nuvama Wealth Management Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Sinclairs Hotels Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Oct 6, 2023
Offer Closing Date
Thu, Oct 12, 2023
Buyback Price
₹200 per share
Record Date
September 29, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 10 Fully paid-up Equity Shares held on the Record Date. | 228,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 20 Fully paid-up Equity Shares held on the Record Date. | 1,292,000.00 |
Sinclairs Hotels Limited's revenue increased by 67% and profit after tax (PAT) rose by 338.21% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | |||
| Revenue | 57.33 | 34.33 | 23.14 |
| Profit After Tax | 31.23 | 7.13 | 3.51 |
| Net Worth | 124.33 | 108.32 | 103.34 |
| Reserves and Surplus | |||
| Total Borrowing | |||
| Amount in ₹ Crore | |||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2023 | 170.00 | 144.00 | 161.27 |
| Jul-2023 | 155.00 | 112.00 | 139.19 |
| Jun-2023 | 130.00 | 115.00 | 123.07 |
The proposed Buy-back will help the Company achieve the following objectives:
Sinclairs Hotels Ltd.
147 Block G, New Alipore,
Kolkata 700053
Kolkata, West Bengal, 700053
Lead Manager(s)
Registered Broker
The Sinclairs Hotels Buyback 2023 opens on October 6, 2023, and closes on October 12, 2023.
Last date to be eligible to participate in buyback is September 28, 2023.
The Sinclairs Hotels Buyback 2023 is a Tender Offer.
Sinclairs Hotels Buyback 2023 Schedule
| Buyback Opening Date | October 6, 2023 |
| Buyback Closing Date | October 12, 2023 |
| Last Date for receipt of Tender Forms | October 12, 2023 |
| Finalisation of Buyback Acceptance | October 18, 2023 |
| Last Date for settlment of bids | October 19, 2023 |
| Last Date for Extinguishment of Shares | October 31, 2023 |
The Sinclairs Hotels Buyback 2023 is being offered at Rs ₹200 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 10 Fully paid-up Equity Shares held on the Record Date. | 228,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 20 Fully paid-up Equity Shares held on the Record Date. | 1,292,000.00 |
The issue size of Sinclairs Hotels Buyback 2023 is 15,20,000 equity shares at ₹200 per share aggregating up to ₹30.40 Crores.
The proposed Buy-back will help the Company achieve the following objectives:
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 Sinclairs Hotels Buyback 2023 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.
