Tender Offer | ₹10.01 Crores | Listing at BSE | Fri, Jun 3, 2022 - Thu, Jun 16, 2022
Sinclairs Hotels Ltd. Buyback is a tender offer for the repurchase of up to 0.07 crore equity shares at a buyback price of ₹143 per share with a face value of ₹2 per share, aggregating to ₹10.01 crores.
The record date for determining eligible shareholders is May 13, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 3, 2022 and closes on Jun 16, 2022.
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, Jun 3, 2022
Offer Closing Date
Thu, Jun 16, 2022
Buyback Price
₹143 per share
Record Date
May 13, 2022
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 2,313.88 | 4,716.66 | 4,958.31 |
| Profit After Tax | 351.12 | 948.90 | 974.69 |
| Net Worth | 10,334.42 | 10,195.89 | 9,643.24 |
Sinclairs Hotels Limited owns and operates nine properties in India. The company has properties in Burdwan, Siliguri, Darjeeling, Kalimpong and Dooars in West Bengal, Gangtok and Yangang in Sikkim, Ooty in South India and Port Blair in the Andamans. Sinclairs also offer excellent venues for holding conferences, meetings and seminars in these locations. The properties consistently receive high ratings from travellers for guest comfort, service, food and conference facilities.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Mar-2022 | 100.00 | 75.00 | 89.23 |
| Feb-2022 | 89.80 | 70.00 | 81.84 |
| Jan-2022 | 78.50 | 60.00 | 73.56 |
The buyback is being undertaken for the following reason:
1. The Buyback will help the Company to return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving return on equity, by the reduction in the equity base, thereby leading to a long term increase in shareholders' value.
Sinclairs Hotels Ltd.
Pressman House
10A, Lee Road
Kolkata 700020
Kolkata, West Bengal, 700020
Lead Manager(s)
Registered Broker
The Sinclairs Hotels Buyback opens on June 3, 2022, and closes on June 16, 2022.
The Sinclairs Hotels Buyback last day to buy is not available as of now.
The Sinclairs Hotels Buyback is a Tender Offer.
Sinclairs Hotels Buyback Schedule
| Buyback Opening Date | June 3, 2022 |
| Buyback Closing Date | June 16, 2022 |
| Last Date for receipt of Tender Forms | |
| Finalisation of Buyback Acceptance | |
| Last Date for settlment of bids | |
| Last Date for Extinguishment of Shares |
The Sinclairs Hotels Buyback is being offered at Rs ₹143 per share.
The issue size of Sinclairs Hotels Buyback is 7,00,000 equity shares at ₹143 per share aggregating up to ₹10.01 Crores.
The buyback is being undertaken for the following reason:
1. The Buyback will help the Company to return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving return on equity, by the reduction in the equity base, thereby leading to a long term increase in shareholders' value.
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 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.
