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Sep 14, 2022 - Sep 27, 2022

Suraj Limited Buyback (Suraj Limited Buyback) Detail

Incorporated in 1960, Suraj Limited is Manufacturer and Exporter of Stainless Steel Seamless Pipes, Tubes, Flanges, Forged Fittings and electro polished products.

The company's product portfolio includes Stainless Steel Seamless Heat Exchanger Tubes, Stainless Steel Seamless Heat Exchanger 'U'-Tubes, Stainless Steel Seamless Instrumentation Tubes, Stainless Steel Seamless & Welded Mechanical Polished Tubes, Stainless Steel Seamless & Welded Electropolished Tubes, Stainless Steel Seamless Buttweld Fittings and Flanges & Forged Fittings.

Suraj Limited Buyback Detail

Issue PeriodSep 14, 2022 - Sep 27, 2022
Security NameSuraj Limited
Issue TypeTender Offer
Issue Size (Shares)0.09 Crores
Issue Size (Amount)₹6.93 Crores
Buyback Price₹77 per share
Face Value₹10 per share
Listing AtBSE

Suraj Limited Buyback Issue Timetable

Offer Opens OnSep 14, 2022
Offer Closes OnSep 27, 2022
Record DateAug 20, 2022
Last Date for receipt of Tender FormsSep 27, 2022
Finalisation of Buyback AcceptanceOct 6, 2022
Last Date for settlment of bidsOct 7, 2022
Last Date for Extinguishment of SharesOct 14, 2022

Buyback Ratio

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 184 Equity Share out of every 813 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 37 Equity Shares out of every 663 Fully paid-up Equity Shares held on the Record Date.

Company Financials

Suraj Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After TaxNet Worth
31-Mar-20177.031.0187.77
31-Mar-21192.381.3789.14
31-Mar-22348.76392.17
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2022 76.45 62.05 69.25
Jun-2022 73.6 61.05 67.33
May-2022 80 63.3 71.65

Necessity of the Issue

The buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in longer term and improving the return on equity.
  2. The Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding, thereby, enhancing the overall return to the Equity Shareholders.

Suraj Limited Buyback Documents

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Company Contact Information

Suraj Limited
‘Suraj House’,
Opp. Usmanpura Garden, Ashram Road,
Ahmedabad - 380 014

Phone: 0091-79-27540720
Email: suraj@surajgroup.com
Website: https://www.surajgroup.com/

Suraj Limited Buyback Registrar

  1. Bigshare Services Pvt Ltd
       1st Floor, Bharat Tin Works Building,
       Opp. Vasant Oasis,Makwana Road,
       Marol, Andheri(E), Mumbai - 400 059

    Phone: +91-22-6263 8200
    Email: buybackoffer@bigshareonline.com
    Website: http://www.bigshareonline.com

Suraj Limited Buyback Manager

Lead Manager(s)

  1. Beeline Capital Advisors Pvt Ltd

Registered Broker

  1. Swastika Investmart Limited
    Email: dp@swastika.co.in

Find Suraj Limited Buyback Latest Update

Suraj Limited Buyback FAQs

The Suraj Limited Buyback opens on Sep 14, 2022, and closes on Sep 27, 2022.

The Suraj Limited Buyback is a Tender Offer.

Suraj Limited Buyback Schedule

Buyback Opening DateSep 14, 2022
Buyback Closing DateSep 27, 2022
Last Date for receipt of Tender FormsSep 27, 2022
Finalisation of Buyback AcceptanceOct 6, 2022
Last Date for settlment of bidsOct 7, 2022
Last Date for Extinguishment of SharesOct 14, 2022

The Suraj Limited Buyback is being offered at Rs ₹77 per share per equity share.

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 184 Equity Share out of every 813 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 37 Equity Shares out of every 663 Fully paid-up Equity Shares held on the Record Date.

You could sell Suraj Limited Buyback on Aug 19, 2022 to remain eligible for buyback. The record date for Suraj Limited Buyback buyback is Aug 20, 2022.

The record date for the Suraj Limited Buyback is Aug 20, 2022.

The issue size of Suraj Limited Buyback is of 0.09 Crores equity shares at ₹77 per share aggregating upto ₹6.93 Crores.

The buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in longer term and improving the return on equity.
  2. The Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding, thereby, enhancing the overall return to the Equity Shareholders.

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 Suraj Limited 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.


4 Comments

4. KAMMA SIVA RAMA KRISHNA   I Like It. | Report Abuse |   Link | Aug 11, 2022 10:26:13 PM Reply
Please note that the Mindteck buyback is through the open offer, not through the tender route.
4.1. Om.   I Like It. | Report Abuse |   Link | Sep 29, 2022 6:00:49 PM
Hello sir
What's the benefits or drawback of open offer please can you tell me about it.
3. KAMMA SIVARAMAKRISHNA   I Like It. | Report Abuse |   Link | Sep 8, 2022 3:46:42 PM Reply
Buyback Particulars of Tanla Platforms

Buyback Size. 14,16,666 shares
Mode. Tender Offer
Buyback Price. Rs.1200/-
Record Date. To be announced
2. Yash Doshi   I Like It. | Report Abuse |   Link | Sep 6, 2022 11:41:21 PM Reply
Change name of Merchant Banker for this buyback as Beeline Broking and Beeline Capital is different
1. KAMMA SIVA RAMA KRISHNA   I Like It. | Report Abuse |   Link | Aug 9, 2022 11:15:39 PM Reply
BUYBACK PARTICULARS OF GRANULES INDIA LIMITED:

Size of the buyback : upto 62,50,000 shares
Buyback price. : Rs. 400/-
Record Date. : 23/8/2022
Mode of the buyback: Tender offer route

All the best to all of you.
1.1. Kiran   I Like It. | Report Abuse |   Link | Aug 10, 2022 10:59:21 AM
Any idea about promoters participation?