Tender Offer | ₹55.10 Crores | Listed at BSE, NSE | Wed, Mar 15, 2023 - Wed, Mar 29, 2023
Sportking India Ltd Buyback is a tender offer for the repurchase of up to 0.06 crore equity shares at a buyback price of ₹950 per share with a face value of ₹10 per share, aggregating to ₹55.10 crores.
The record date for determining eligible shareholders is Feb 10, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 15, 2023 and closes on Mar 29, 2023, with the last date for receipt of tender forms being Mar 31, 2023.
The finalisation of buyback acceptance is expected on Apr 11, 2023, followed by settlement of bids on Apr 12, 2023.
Master Capital Services Ltd. is the Manager to the Buyback and Beetal Financial & Computer Services Pvt.Ltd. is the Registrar and Master Capital Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Sportking India Ltd Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Mar 15, 2023
Offer Closing Date
Wed, Mar 29, 2023
Buyback Price
₹950 per share
Record Date
February 10, 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 | ||||
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.
| 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.
Sportking India Ltd
Vill. Kanech, Near Sahnewal
G.T. Road,
Ludhiana-141120
Ludhiana, Punjab, 141120
Beetal Financial & Computer Services Pvt.Ltd.
Lead Manager(s)
Registered Broker
The Sportking India Buyback 2023 opens on March 15, 2023, and closes on March 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 | March 15, 2023 |
| Buyback Closing Date | March 29, 2023 |
| Last Date for receipt of Tender Forms | March 31, 2023 |
| Finalisation of Buyback Acceptance | April 11, 2023 |
| Last Date for settlment of bids | April 12, 2023 |
| Last Date for Extinguishment of Shares | April 19, 2023 |
The Sportking India Buyback 2023 is being offered at Rs ₹950 per 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 issue size of Sportking India Buyback 2023 is 5,80,000 equity shares at ₹950 per share aggregating up to ₹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.
