Triveni Turbine Limited Buyback (Triveni Turbine Buyback) Detail

Last date to be eligible to participate in buyback is December 21, 2022.

The Triveni Turbine Buyback is a Tender Offer.

The Triveni Turbine Buyback is being offered at Rs ₹350 per share per equity share.

The record date for the Triveni Turbine Buyback is December 23, 2022.

The issue size of Triveni Turbine Buyback is of 5,428,571 equity shares at ₹350 per share aggregating upto ₹190.00 Crores.

The Buyback is being undertaken, inter-alia, for the following reasons:

Taking into account the operational and strategic cash requirements of the Company in the medium term (including investment in growth plans and associated capital expenditure), the Company's dividend pay-out trend and cash reserves, the Company considers appropriate to return surplus funds to the shareholders in an effective and efficient manner.

The Buyback will help the Company to distribute surplus cash to its shareholders holding Equity Shares and will promote capital efficiency and thereby increasing shareholders' value and improving return on equity to the management of the Company's business during that year and to the amount and character of the financial resources which will, in the Board's view.

Letter of Offer

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 Triveni Turbine 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.