Tender Offer | ₹125.00 Crores | Listed at BSE, NSE | Thu, Dec 21, 2023 - Thu, Dec 28, 2023
Somany Ceramics Ltd. Buyback is a tender offer for the repurchase of up to 0.15 crore equity shares at a buyback price of ₹850 per share with a face value of ₹2 per share, aggregating to ₹125.00 crores.
The record date for determining eligible shareholders is Dec 15, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Dec 21, 2023 and closes on Dec 28, 2023, with the last date for receipt of tender forms being Dec 28, 2023.
The finalisation of buyback acceptance is expected on Jan 3, 2024, followed by settlement of bids on Jan 4, 2024.
ICICI Securities Ltd. is the Manager to the Buyback and Maheshwari Datamatics Pvt.Ltd. is the Registrar and ICICI Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Somany Ceramics Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Dec 21, 2023
Offer Closing Date
Thu, Dec 28, 2023
Buyback Price
₹850 per share
Record Date
December 15, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 29 Fully paid-up Equity Shares held on the Record Date. | 220,589.00 |
| General Category for all other Eligible Shareholders | 8 Equity Shares out of every 265 Fully paid-up Equity Shares held on the Record Date. | 1,249,999.00 |
Somany Ceramics Limited's revenue increased by 18.27% and profit after tax (PAT) dropped by -28.37% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,011.11 | 1,792.29 | 1,558.60 | |
| Revenue | 1,247.90 | 2,493.05 | 2,107.88 | 1,663.37 |
| Profit After Tax | 42.10 | 66.92 | 93.42 | 60.59 |
| Net Worth | 786.97 | 726.30 | 640.75 | |
| Reserves and Surplus | 886.04 | 825.42 | 731.95 | |
| Total Borrowing | ||||
| Amount in ₹ Crore | ||||
Incorporated in 1968, Somany Ceramics Limited exports ceramics tiles, sanitaryware, bath fittings, and allied products.
The company has a market presence in more than 55 countries across 6 continents. The company provides a range of products such as wall tiles, floor tiles polished and glazed vitrified tiles, sanitary ware, and bathroom fittings.
The company has production facilities in Kadi (Gujarat) and Kassar (Haryana), India, as well as other joint venture facilities with a total production capacity of 60 million square meters annually.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2023 | 729.30 | 648.55 | 668.17 |
| Oct-2023 | 727.95 | 650.00 | 690.09 |
| Sep-2023 | 769.90 | 678.80 | 711.77 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2023 | 726.00 | 653.00 | 667.91 |
| Oct-2023 | 730.30 | 649.30 | 690.24 |
| Sep-2023 | 761.30 | 682.05 | 712.04 |
The Buyback of shares by the company is proposed to reward the equity shareholders by way of returning surplus funds which is excess of the requirements for ordinary capital expenditure and current investment plan, in an expedient, effective and cost-efficient manner. Below is the broad reason of the proposed buyback.
Somany Ceramics Ltd.
2, Red
Cross Place
Kolkata – 700 001,
Kolkata, West Bengal, 700001
Lead Manager(s)
Registered Broker
The Somany Ceramics Buyback 2023 opens on December 21, 2023, and closes on December 28, 2023.
Last date to be eligible to participate in buyback is December 14, 2023.
The Somany Ceramics Buyback 2023 is a Tender Offer.
Somany Ceramics Buyback 2023 Schedule
| Buyback Opening Date | December 21, 2023 |
| Buyback Closing Date | December 28, 2023 |
| Last Date for receipt of Tender Forms | December 28, 2023 |
| Finalisation of Buyback Acceptance | January 3, 2024 |
| Last Date for settlment of bids | January 4, 2024 |
| Last Date for Extinguishment of Shares | January 12, 2024 |
The Somany Ceramics Buyback 2023 is being offered at Rs ₹850 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 29 Fully paid-up Equity Shares held on the Record Date. | 220,589.00 |
| General Category for all other Eligible Shareholders | 8 Equity Shares out of every 265 Fully paid-up Equity Shares held on the Record Date. | 1,249,999.00 |
The issue size of Somany Ceramics Buyback 2023 is 14,70,588 equity shares at ₹850 per share aggregating up to ₹125.00 Crores.
The Buyback of shares by the company is proposed to reward the equity shareholders by way of returning surplus funds which is excess of the requirements for ordinary capital expenditure and current investment plan, in an expedient, effective and cost-efficient manner. Below is the broad reason of the proposed buyback.
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 Somany Ceramics 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.
