Tender Offer | ₹125.40 Crores | Listed at BSE, NSE | Fri, Aug 30, 2024 - Thu, Sep 5, 2024
Vls Finance Ltd. Buyback is a tender offer for the repurchase of up to 0.33 crore equity shares, representing 9.48% of the total paid-up equity share capital at a buyback price of ₹380 per share with a face value of ₹10 per share, aggregating to ₹125.40 crores.
The record date for determining eligible shareholders is Aug 26, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 30, 2024 and closes on Sep 5, 2024, with the last date for receipt of tender forms being Sep 5, 2024.
The finalisation of buyback acceptance is expected on Sep 12, 2024, followed by settlement of bids on Sep 13, 2024.
New Berry Capitals Pvt.Ltd. is the Manager to the Buyback and RCMC Share Registry Pvt.Ltd. is the Registrar and Globe Capital Market Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Vls Finance Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Aug 30, 2024
Offer Closing Date
Thu, Sep 5, 2024
Buyback Price
₹380 per share
Record Date
August 26, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 71 Equity Shares out of every 368 Fully paid-up Equity Shares held on the Record Date. | 5,65,316 |
| General Category for all other Eligible Shareholders | 71 Equity Shares out of every 368 Fully paid-up Equity Shares held on the Record Date. | 27,34,684 |
Vls Finance Ltd.'s revenue increased by 395% and profit after tax (PAT) rose by 479% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,062.83 | 3,684.99 | 3,068.38 | |||||||||||||||||||||||||||||||||||||
| Revenue | 418.2 | 84.4 | 232.34 | 222.18 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 324.33 | 55.97 | 210.22 | 221.36 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,589.53 | 1,111.92 | 1,113.75 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,457.98 | 1,670.98 | 1,313.56 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Incorporated in 1986, VLS Finance Ltd primarily offers financial services, such as Asset Management, Strategic Private Equity Investments, and Arbitrage.
The company's services can be categorized into the following
VLS Finance Ltd. (“VLS”) is a major financial services company in India with a diverse portfolio of strategic proprietary investments across sectors such as media, IT & BPO, healthcare, transport/logistics, real estate, consumer goods (footwear), and FMCG.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 337.95 | 289.05 | 306.47 |
| Jun-2024 | 308.60 | 234.00 | 267.22 |
| May-2024 | 297.25 | 242.05 | 259.75 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 337.15 | 291.00 | 306.45 |
| Jun-2024 | 309.50 | 234.00 | 267.22 |
| May-2024 | 300.05 | 241.85 | 259.80 |
Having regards to the healthy cash flows that the Company has been able to consistently generate, the future projected cash flows of the Company and the anticipated funds required for capital expenditure and working capital to meet the expected future growth of the Company, the Buy-back is expected to achieve the following objectives:
The Buy Back, which is being implemented through the Tender Offer as prescribed under the SEBI Buy Back Regulations, would involve allocation of 15% of number of Equity Shares that the Company proposes to Buy Back or several Equity Shares entitled as per the shareholding of Small Shareholders, whichever is higher, to Small Shareholders. The Company believes that this reservation of 15% for
The Buyback gives the shareholders holding Equity Shares of the Company the option to either (i) participate and receive cash instead of Equity Shares to be accepted under the Buyback Offer or (ii) choose not to participate and enjoy a resultant increase in their percentage shareholding post-buyback Offer without additional investment.
Vls Finance Ltd.
Ground Floor, 90,
Okhla Industrial Estate, Phase I
New Delhi-110020
New Delhi, New Delhi, 110020
Lead Manager(s)
Registered Broker
The Vls Finance Buyback 2024 opens on August 30, 2024, and closes on September 5, 2024.
Last date to be eligible to participate in buyback is August 23, 2024.
The Vls Finance Buyback 2024 is a Tender Offer.
Vls Finance Buyback 2024 Schedule
| Buyback Opening Date | August 30, 2024 |
| Buyback Closing Date | September 5, 2024 |
| Last Date for receipt of Tender Forms | September 5, 2024 |
| Finalisation of Buyback Acceptance | September 12, 2024 |
| Last Date for settlment of bids | September 13, 2024 |
| Last Date for Extinguishment of Shares | September 23, 2024 |
The Vls Finance Buyback 2024 is being offered at Rs ₹380 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 71 Equity Shares out of every 368 Fully paid-up Equity Shares held on the Record Date. | 5,65,316 |
| General Category for all other Eligible Shareholders | 71 Equity Shares out of every 368 Fully paid-up Equity Shares held on the Record Date. | 27,34,684 |
The issue size of Vls Finance Buyback 2024 is 33,00,000 equity shares at ₹380 per share aggregating up to ₹125.40 Crores.
Having regards to the healthy cash flows that the Company has been able to consistently generate, the future projected cash flows of the Company and the anticipated funds required for capital expenditure and working capital to meet the expected future growth of the Company, the Buy-back is expected to achieve the following objectives:
The Buy Back, which is being implemented through the Tender Offer as prescribed under the SEBI Buy Back Regulations, would involve allocation of 15% of number of Equity Shares that the Company proposes to Buy Back or several Equity Shares entitled as per the shareholding of Small Shareholders, whichever is higher, to Small Shareholders. The Company believes that this reservation of 15% for
The Buyback gives the shareholders holding Equity Shares of the Company the option to either (i) participate and receive cash instead of Equity Shares to be accepted under the Buyback Offer or (ii) choose not to participate and enjoy a resultant increase in their percentage shareholding post-buyback Offer without additional investment.
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 Vls Finance 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.
