Tender Offer | ₹200.00 Crores | Listed at BSE, NSE | Wed, Aug 21, 2024 - Tue, Aug 27, 2024
TTK Prestige Ltd. Buyback is a tender offer for the repurchase of up to 0.17 crore equity shares, representing 1.20% of the total paid-up equity share capital at a buyback price of ₹1200 per share with a face value of ₹1 per share, aggregating to ₹200.00 crores.
The record date for determining eligible shareholders is Aug 14, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 21, 2024 and closes on Aug 27, 2024, with the last date for receipt of tender forms being Aug 27, 2024.
The finalisation of buyback acceptance is expected on Sep 2, 2024, followed by settlement of bids on Sep 3, 2024.
Inga Ventures Pvt.Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and ITI Securities Broking Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the TTK Prestige Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Aug 21, 2024
Offer Closing Date
Tue, Aug 27, 2024
Buyback Price
₹1200 per share
Record Date
August 14, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 11 Equity Shares out of every 120 Fully paid-up Equity Shares held on the Record Date. | 250,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 96 Fully paid-up Equity Shares held on the Record Date. | 1,416,666.00 |
TTK Prestige Ltd.'s revenue decreased by -2.46% and profit after tax (PAT) dropped by -11.62% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,742.66 | 2,587.45 | 2,414.49 |
| Revenue | 2,753.38 | 2,822.79 | 2,757.50 |
| Profit After Tax | 225.33 | 254.95 | 305.43 |
| Reserves and Surplus | 2,044.78 | 1,892.75 | 1,682.86 |
| Amount in ₹ Crore | |||
Incorporated in 1955, TTK Prestige Ltd. is a consumer appliance brand in India.
The company mainly manufactures and sells domestic kitchen appliances under the brand name "Prestige." Their products include pressure cookers, non-stick cookware, gas stoves, and other electric appliances. They have recently started offering home cleaning solutions.
The company's manufacturing units are in Hosur and Coimbatore in Tamil Nadu, Roorkee in Uttarakhand, Karjan in Gujarat, and Khardi in Maharashtra, all of which are ISO certified. They're known for being a top choice for pressure cookers, non-stick cookware, and induction cooktops, and a significant player in other domestic kitchen appliances.
The company sells its products in India as well as exports to countries such as the USA, UK, Australia, Fiji, New Zealand, Bangladesh, Sri Lanka, UAE, Middle East, South Africa, Mauritius and Egypt.
The company operates over 620 Prestige Xclusive Stores in 305 Indian cities across 28 states.
The company operates more than 650 stores across India.
The company's manufacturing units are situated in Hosur, Coimbatore, Karjan, Roorkee, and Khardi.
As of August 2024, the company has over 2500 employees in various departments.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 983.00 | 782.45 | 888.87 |
| Jun-2024 | 802.85 | 647.40 | 747.17 |
| Jun-2024 | 725.05 | 676.00 | 704.36 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 984.00 | 783.30 | 889.09 |
| Jun-2024 | 803.00 | 647.15 | 747.47 |
| Jun-2024 | 729.00 | 675.50 | 704.80 |
The Buy-Back is being undertaken, inter-alia, for the following reasons:
TTK Prestige Ltd.
Plot No. 38
SIPCOT Industrial Complex
Hosur - 635126
Hosur, Tamil Nadu, 635126
Lead Manager(s)
Registered Broker
The TTK Prestige Buyback 2024 opens on August 21, 2024, and closes on August 27, 2024.
Last date to be eligible to participate in buyback is August 12, 2024.
The TTK Prestige Buyback 2024 is a Tender Offer.
TTK Prestige Buyback 2024 Schedule
| Buyback Opening Date | August 21, 2024 |
| Buyback Closing Date | August 27, 2024 |
| Last Date for receipt of Tender Forms | August 27, 2024 |
| Finalisation of Buyback Acceptance | September 2, 2024 |
| Last Date for settlment of bids | September 3, 2024 |
| Last Date for Extinguishment of Shares | September 12, 2024 |
The TTK Prestige Buyback 2024 is being offered at Rs ₹1200 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 11 Equity Shares out of every 120 Fully paid-up Equity Shares held on the Record Date. | 250,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 96 Fully paid-up Equity Shares held on the Record Date. | 1,416,666.00 |
The issue size of TTK Prestige Buyback 2024 is 16,66,666 equity shares at ₹1200 per share aggregating up to ₹200.00 Crores.
The Buy-Back 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 TTK Prestige Buyback 2024 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.
