Tender Offer | ₹35.10 Crores | Listed at BSE, NSE | Thu, Nov 3, 2022 - Thu, Nov 17, 2022
S.P. Apparels Ltd Buyback is a tender offer for the repurchase of up to 0.06 crore equity shares at a buyback price of ₹585 per share with a face value of ₹10 per share, aggregating to ₹35.10 crores.
The record date for determining eligible shareholders is Oct 7, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Nov 3, 2022 and closes on Nov 17, 2022, with the last date for receipt of tender forms being Nov 17, 2022.
The finalisation of buyback acceptance is expected on Nov 25, 2022, followed by settlement of bids on Nov 28, 2022.
Motilal Oswal Investment Advisors Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Motilal Oswal Financia! Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the S.P. Apparels Ltd Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Nov 3, 2022
Offer Closing Date
Thu, Nov 17, 2022
Buyback Price
₹585 per share
Record Date
October 7, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Share out of every 27 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 48 Fully paid-up Equity Shares held on the Record Date. |
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-20 | 832.67 | 46.92 | 523.22 | 226.25 |
| 31-Mar-21 | 653.69 | 43.17 | 558.38 | 194.15 |
| 31-Mar-22 | 868.92 | 84.69 | 637.77 | 231.31 |
| Amount in ₹ Crore | ||||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2022 | 463.50 | 376.10 | 428.72 |
| Jul-2022 | 414.00 | 359.40 | 377.24 |
| Jun-2022 | 397.50 | 326.00 | 359.89 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2022 | 463.75 | 375.30 | 428.64 |
| Jul-2022 | 414.90 | 360.00 | 377.40 |
| Jun-2022 | 398.00 | 326.05 | 359.84 |
The Buyback is being undertaken for the following reasons:
S.P. Apparels Ltd
39 - A, Extention Street,
Kaikattipudur Road, Avinashi,
Tamil Nadu 641654
Avinashi, Tamil Nadu
Lead Manager(s)
Registered Broker
The SP Apparels Buyback opens on November 3, 2022, and closes on November 17, 2022.
The SP Apparels Buyback last day to buy is not available as of now.
The SP Apparels Buyback is a Tender Offer.
SP Apparels Buyback Schedule
| Buyback Opening Date | November 3, 2022 |
| Buyback Closing Date | November 17, 2022 |
| Last Date for receipt of Tender Forms | November 17, 2022 |
| Finalisation of Buyback Acceptance | November 25, 2022 |
| Last Date for settlment of bids | November 28, 2022 |
| Last Date for Extinguishment of Shares | December 5, 2022 |
The SP Apparels Buyback is being offered at Rs ₹585 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Share out of every 27 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 48 Fully paid-up Equity Shares held on the Record Date. |
The issue size of SP Apparels Buyback is 6,00,000 equity shares at ₹585 per share aggregating up to ₹35.10 Crores.
The Buyback is being undertaken 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 SP Apparels 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.
