Tender Offer | ₹150.00 Crores | Listed at BSE, NSE | Wed, Feb 1, 2023 - Tue, Feb 14, 2023
Technocraft Industries (India) Ltd. Buyback is a tender offer for the repurchase of up to 0.15 crore equity shares at a buyback price of ₹1000 per share with a face value of ₹10 per share, aggregating to ₹150.00 crores.
The record date for determining eligible shareholders is Dec 30, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Feb 1, 2023 and closes on Feb 14, 2023, with the last date for receipt of tender forms being Feb 16, 2023.
The finalisation of buyback acceptance is expected on Feb 21, 2023, followed by settlement of bids on Feb 22, 2023.
Systematix Corporate Services Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Systematix Shares and Stocks (India) Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Technocraft Industries (India) Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Feb 1, 2023
Offer Closing Date
Tue, Feb 14, 2023
Buyback Price
₹1000 per share
Record Date
December 30, 2022
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 33 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date. | 225,000.00 |
| General Category for all other Eligible Shareholders | 31 Equity Shares out of every 581 Fully paid-up Equity Shares held on the Record Date. | 1,275,000.00 |
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 1393.98 | 123.19 | 24.46 | 914.16 | 635.08 |
| 31-Mar-21 | 1352.34 | 146.83 | 1069.37 | 1044.91 | 466.92 |
| 31-Mar-22 | 1958.55 | 274.57 | 1332.03 | 1307.57 | 506.14 |
| Amount in ₹ Crore | |||||
Incorporated in 1972, Technocraft Industries India Limited, started with manufacturing of Drum Closures and became the second largest global manufacturer of Steel Drum closures including other products like seal plugs, gaskets, drum flanges etc.
The company also ventured into manufacturing of plastic closures for small metal and plastic containers and is a dominant player in the engineering sector, tube division and produces high precision scaffolding systems for building construction.
Technocraft Industries also diversified into manufacturing of Cotton Yarn and accorded a 100% EOU (Export Oriented Unit) status.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 890.25 | 746.95 | 827.38 |
| Oct-2022 | 846.00 | 689.65 | 747.42 |
| Sep-2022 | 925.00 | 741.20 | 837.17 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2022 | 894.45 | 751.60 | 826.87 |
| Oct-2022 | 819.00 | 701.05 | 747.21 |
| Sep-2022 | 926.45 | 742.40 | 835.93 |
The Buyback is being undertaken, inter-alia, for the following reasons:
Technocraft Industries (India) Ltd.
Plot No. 47, “Opus Centre”, Second Floor,
Central Road, Opposite Tunga Paradise Hotel, MIDC.
Andheri (East), Mumbai – 400 093
Andheri, Maharashtra, 400093
Lead Manager(s)
Registered Broker
The Technocraft Industries Buyback 2022 opens on February 1, 2023, and closes on February 14, 2023.
Last date to be eligible to participate in buyback is December 28, 2022.
The Technocraft Industries Buyback 2022 is a Tender Offer.
Technocraft Industries Buyback 2022 Schedule
| Buyback Opening Date | February 1, 2023 |
| Buyback Closing Date | February 14, 2023 |
| Last Date for receipt of Tender Forms | February 16, 2023 |
| Finalisation of Buyback Acceptance | February 21, 2023 |
| Last Date for settlment of bids | February 22, 2023 |
| Last Date for Extinguishment of Shares | March 1, 2023 |
The Technocraft Industries Buyback 2022 is being offered at Rs ₹1000 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 33 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date. | 225,000.00 |
| General Category for all other Eligible Shareholders | 31 Equity Shares out of every 581 Fully paid-up Equity Shares held on the Record Date. | 1,275,000.00 |
The issue size of Technocraft Industries Buyback 2022 is 15,00,000 equity shares at ₹1000 per share aggregating up to ₹150.00 Crores.
The Buyback is being undertaken, inter-alia, 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 Technocraft Industries Buyback 2022 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.
