Open Market Through Stock Exchange | ₹75.00 Crores | Listing at BSE | Thu, Aug 18, 2022 - Mon, Feb 13, 2023
TCI Express Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹2050 per share with a face value of ₹2 per share, aggregating to ₹75.00 crores.
The buyback opens on Aug 18, 2022 and closes on Feb 13, 2023.
Motilal Oswal Investment Advisors Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Motilal Oswal Financia! Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the TCI Express Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 18, 2022
Offer Closing Date
Mon, Feb 13, 2023
Buyback Price
₹2050 per share
Record Date
[.]
| Period Ended | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|
| 31-Mar-20 | 1036.33 | 89.08 | 337.27 |
| 31-Mar-21 | 851.64 | 100.6 | 433.87 |
| 31-Mar-22 | 1089.64 | 128.84 | 536.19 |
| Amount in ₹ Crore | |||
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2022 | 1,790.05 | 1,491.45 | 1,624.13 |
| Jun-2022 | 1,765.65 | 1,551.00 | 1,628.40 |
| May-2022 | 1,889.50 | 1,444.50 | 1,634.72 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2022 | 1,790.00 | 1,490.75 | 1,626.09 |
| Jun-2022 | 1,764.95 | 1,554.00 | 1,630.02 |
| May-2022 | 1,898.85 | 1,442.05 | 1,634.95 |
The buyback is being undertaken for the following reasons:
1. The Buyback is generally expected to improve return on equity, through distribution of cash and improve eamings per share by reduction in the Equity base, thereby leading to long term increase in Members' value.
TCI Express Ltd.
Flat Nos 306 & 307 1-8-273,
Ashoka Bhoopal Chambers, Third Ficar,
S.P Road, Secunderabad, 500003
Secunderabad, Telangana, 500003
Lead Manager(s)
Registered Broker
The TCI Express Buyback opens on August 18, 2022, and closes on February 13, 2023.
The TCI Express Buyback is a Open Market Through Stock Exchange.
TCI Express Buyback Schedule
| Buyback Opening Date | August 18, 2022 |
| Buyback Closing Date | February 13, 2023 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The TCI Express Buyback is being offered at Rs ₹2050 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The TCI Express Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹75.00 Crores with pricing of Rs. ₹2050 per share.
The buyback is being undertaken for the following reasons:
1. The Buyback is generally expected to improve return on equity, through distribution of cash and improve eamings per share by reduction in the Equity base, thereby leading to long term increase in Members' value.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The TCI Express 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.
