Tender Offer | ₹108.00 Crores | Listed at BSE, NSE | Mon, Sep 25, 2023 - Tue, Oct 3, 2023
Siyaram Silk Mills Ltd. Buyback is a tender offer for the repurchase of up to 0.15 crore equity shares at a buyback price of ₹720 per share with a face value of ₹2 per share, aggregating to ₹108.00 crores.
The record date for determining eligible shareholders is Sep 18, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 25, 2023 and closes on Oct 3, 2023, with the last date for receipt of tender forms being Oct 3, 2023.
The finalisation of buyback acceptance is expected on Oct 9, 2023, followed by settlement of bids on Oct 10, 2023.
Vivro Financial Services Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Sunidhi Securities & Finance Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Siyaram Silk Mills Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Sep 25, 2023
Offer Closing Date
Tue, Oct 3, 2023
Buyback Price
₹720 per share
Record Date
September 18, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 53 Equity Shares out of every 457 Fully paid-up Equity Shares held on the Record Date. | 224,999.00 |
| General Category for all other Eligible Shareholders | 21 Equity Shares out of every 739 Fully paid-up Equity Shares held on the Record Date. | 1,274,993.00 |
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,503.23 | 1,210.49 | 1,512.90 | 1,636.73 |
| Revenue | 1,733.11 | 1,130.09 | 1,939.42 | 2,272.77 |
| Profit After Tax | 69.25 | 3.58 | 216.24 | 250.99 |
| Net Worth | ||||
| Reserves and Surplus | ||||
| Total Borrowing | 431.83 | 160.46 | 253.18 | 190.94 |
Incorporated in 1978, Siyaram Silk Mills Limited manufactures and markets high-quality fabrics, readymade garments, and other textile products.
The company offers diversified and innovative products made using a variety of blends made from polyviscose, cotton, wool, linen, bamboo and stretch, sold under different brands and sub-brands. Serving multiple end markets through an extensive network of over 800+ distributors, multi-brand outlets - over 225+ stores nationwide, online marketplace, exclusive stores, and institutional engagements.
Siyaram's brand outlets include Acclaim, Siyaram's Victory, Mistair, Canetti, Ethnair, Inspira, Inspiro, Mozzo, Oxemberg, J. Hampstead, Breezy, Evita, Spirit, Cavalera, Casamoda, Cadini, Den-Knit, Marconi, Royale linen, and Unicode.
As on March 31, 2023, the company has over 12 manufacturing units across Tarapur, Daman, Amravati, and Silvassa, comprising 655 looms with a production capacity of 79.5 mn meters, 526 machines with 3.5 mn pieces capacity, 4.8 mn Kg of Indigo capacity, 2.4 mn kg of Knitted fabric capacity.
The Company has established a strong foothold globally and exports fabrics to the UK, Europe, North America, Latin America, Gulf countries, and South-East Asia.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 575.00 | 534.90 | 553.43 |
| Jun-2023 | 567.30 | 519.35 | 541.40 |
| May-2023 | 584.55 | 486.60 | 529.33 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 575.00 | 534.10 | 553.40 |
| Jun-2023 | 567.70 | 519.00 | 541.55 |
| May-2023 | 584.60 | 486.95 | 529.34 |
The Buy Back is being proposed by the Company to fulfill the following objectives:
Siyaram Silk Mills Ltd.
B - 5, Trade World, Kamala City,
Senapati Bapat Marg, Lower Parel,
Mumbai – 400 013
Mumbai, Maharashtra, 400013
Lead Manager(s)
Registered Broker
The Siyaram Silk Mills Buyback 2023 opens on September 25, 2023, and closes on October 3, 2023.
Last date to be eligible to participate in buyback is September 15, 2023.
The Siyaram Silk Mills Buyback 2023 is a Tender Offer.
Siyaram Silk Mills Buyback 2023 Schedule
| Buyback Opening Date | September 25, 2023 |
| Buyback Closing Date | October 3, 2023 |
| Last Date for receipt of Tender Forms | October 3, 2023 |
| Finalisation of Buyback Acceptance | October 9, 2023 |
| Last Date for settlment of bids | October 10, 2023 |
| Last Date for Extinguishment of Shares | October 19, 2023 |
The Siyaram Silk Mills Buyback 2023 is being offered at Rs ₹720 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 53 Equity Shares out of every 457 Fully paid-up Equity Shares held on the Record Date. | 224,999.00 |
| General Category for all other Eligible Shareholders | 21 Equity Shares out of every 739 Fully paid-up Equity Shares held on the Record Date. | 1,274,993.00 |
The issue size of Siyaram Silk Mills Buyback 2023 is 14,99,992 equity shares at ₹720 per share aggregating up to ₹108.00 Crores.
The Buy Back is being proposed by the Company to fulfill 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 Siyaram Silk Mills 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.
