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Incorporated in 1989, Sportking India Ltd is engaged in the textile segment. The company operates as a vertically integrated textile conglomerate. They have experience of over decades in the industry and have continually achieved new benchmarks with strong endeavors.
Sportking India widely operates in the segments - Yarns, Fabrics, Garments, and Retails Business. The company is run under the guidance and leadership of leaders like Mr. Jagdish Chandar Avasthi, Mr. Raj Avasthi, and Mr. Munish Avasthi.
The company has situated its manufacturing facilities in India around Himachal Pradesh and Punjab. These facilities are well equipped with the machinery, producing yarns and garments, and the company produces its best in class products to deliver them across different areas.
| Issue Period | Mar 15, 2023 - Mar 29, 2023 |
| Security Name | Sportking India Ltd |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 580,000.00 |
| Issue Size (Amount) | ₹55.10 Crores |
| Buyback Price | ₹950 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Record Date | Feb 10, 2023 |
| Offer Opens On | Mar 15, 2023 |
| Last Date for receipt of Tender Forms | Mar 31, 2023 |
| Offer Closes On | Mar 29, 2023 |
| Finalisation of Buyback Acceptance | Apr 11, 2023 |
| Last Date for settlment of bids | Apr 12, 2023 |
| Last Date for Extinguishment of Shares | Apr 19, 2023 |
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date. | 87,000.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 76 Fully paid-up Equity Shares held on the Record Date. | 493,000.00 |
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-20 | 1358.04 | 12.36 | 188.45 | 248.6 |
| 31-Mar-21 | 1324.84 | 84.53 | 273.04 | 353.39 |
| 31-Mar-22 | 2178.16 | 409.25 | 687.83 | 754.02 |
| Amount in ₹ Crore | ||||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2022 | 1,122.00 | 831.00 | 923.14 |
| Sep-2022 | 952.10 | 723.00 | 855.16 |
| Oct-2022 | 913.50 | 655.15 | 818.75 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2022 | 1,123.05 | 909.70 | 986.50 |
| Sep-2022 | 949.05 | 721.55 | 854.68 |
| Oct-2022 | 914.45 | 660.15 | 818.61 |
The Buyback offers the following advantages:
a) The Buyback will help the Company to distribute surplus cash to its shareholders in proportion to their shareholding.
b) The Buyback may help in improving financial ratios such as Earnings per share, Return on equity, by reducing the equity base of the Company. It will also lead to long term increase in shareholder's value.
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Sportking India Ltd
Vill. Kanech, Near Sahnewal
G.T. Road,
Ludhiana-141120
Phone: +91-161-2845456
Email: sportking@sportking.co.in
Website: http://sportking.co.in/
Beetal Financial & Computer Services (P) Limited
Beetal House, 3rd Floor,
99, Madangir, Behind Local Shopping Centre,
New Delhi - 110062
Phone: +91 11 29961281
Email: beetalrta@gmail.com
Website: http://www.beetalfinancial.com
Lead Manager(s)
Registered Broker
The Sportking India Buyback 2023 opens on Mar 15, 2023, and closes on Mar 29, 2023.
The Sportking India Buyback 2023 last day to buy is not available as of now.
The Sportking India Buyback 2023 is a Tender Offer.
Sportking India Buyback 2023 Schedule
| Buyback Opening Date | Mar 15, 2023 |
| Buyback Closing Date | Mar 29, 2023 |
| Last Date for receipt of Tender Forms | Mar 31, 2023 |
| Finalisation of Buyback Acceptance | Apr 11, 2023 |
| Last Date for settlment of bids | Apr 12, 2023 |
| Last Date for Extinguishment of Shares | Apr 19, 2023 |
The Sportking India Buyback 2023 is being offered at Rs ₹950 per share per equity share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date. | 87,000.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 76 Fully paid-up Equity Shares held on the Record Date. | 493,000.00 |
The record date for the Sportking India Buyback 2023 is Feb 10, 2023.
The issue size of Sportking India Buyback 2023 is of 580,000.00 equity shares at ₹950 per share aggregating upto ₹55.10 Crores.
The Buyback offers the following advantages:
a) The Buyback will help the Company to distribute surplus cash to its shareholders in proportion to their shareholding.
b) The Buyback may help in improving financial ratios such as Earnings per share, Return on equity, by reducing the equity base of the Company. It will also lead to long term increase in shareholder's 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 Sportking India 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.
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