Tender Offer | ₹6.93 Crores | Listed at BSE | Wed, Sep 14, 2022 - Tue, Sep 27, 2022
Suraj Ltd. Buyback is a tender offer for the repurchase of up to 0.09 crore equity shares at a buyback price of ₹77 per share with a face value of ₹10 per share, aggregating to ₹6.93 crores.
The record date for determining eligible shareholders is Aug 20, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 14, 2022 and closes on Sep 27, 2022, with the last date for receipt of tender forms being Sep 27, 2022.
The finalisation of buyback acceptance is expected on Oct 6, 2022, followed by settlement of bids on Oct 7, 2022.
Beeline Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Swastika Investmart Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Suraj Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Sep 14, 2022
Offer Closing Date
Tue, Sep 27, 2022
Buyback Price
₹77 per share
Record Date
August 20, 2022
| 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. |
| Period Ended | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|
| 31-Mar-20 | 177.03 | 1.01 | 87.77 |
| 31-Mar-21 | 192.38 | 1.37 | 89.14 |
| 31-Mar-22 | 348.76 | 3 | 92.17 |
| Amount in ₹ Crore | |||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2022 | 76.45 | 62.05 | 69.25 |
| Jun-2022 | 73.60 | 61.05 | 67.33 |
| May-2022 | 80.00 | 63.30 | 71.65 |
The buyback is being undertaken for the following reasons:
Suraj Ltd.
‘Suraj House’,
Opp. Usmanpura Garden, Ashram Road,
Ahmedabad - 380 014
Ahmedabad, Gujarat, 380014
Lead Manager(s)
Registered Broker
The Suraj Limited Buyback opens on September 14, 2022, and closes on September 27, 2022.
The Suraj Limited Buyback last day to buy is not available as of now.
The Suraj Limited Buyback is a Tender Offer.
Suraj Limited Buyback Schedule
| Buyback Opening Date | September 14, 2022 |
| Buyback Closing Date | September 27, 2022 |
| Last Date for receipt of Tender Forms | September 27, 2022 |
| Finalisation of Buyback Acceptance | October 6, 2022 |
| Last Date for settlment of bids | October 7, 2022 |
| Last Date for Extinguishment of Shares | October 14, 2022 |
The Suraj Limited Buyback is being offered at Rs ₹77 per 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. |
The issue size of Suraj Limited Buyback is 9,00,000 equity shares at ₹77 per share aggregating up to ₹6.93 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 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.
