Tender Offer | ₹5.84 Crores | Listed at BSE, NSE | Thu, Sep 5, 2024 - Wed, Sep 11, 2024
Weizmann Ltd. Buyback is a tender offer for the repurchase of up to 0.04 crore equity shares, representing 2.30% of the total paid-up equity share capital at a buyback price of ₹160 per share with a face value of ₹10 per share, aggregating to ₹5.84 crores.
The record date for determining eligible shareholders is Aug 30, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 5, 2024 and closes on Sep 11, 2024, with the last date for receipt of tender forms being Sep 11, 2024.
The finalisation of buyback acceptance is expected on Sep 17, 2024, followed by settlement of bids on Sep 19, 2024.
Saffron Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Choice Equity Broking Pvt Ltd is the Registered Broker to the Buyback.
Investors are advised to refer to the Weizmann Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Sep 5, 2024
Offer Closing Date
Wed, Sep 11, 2024
Buyback Price
₹160 per share
Record Date
August 30, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 33 Equity Shares out of every 776 Fully paid-up Equity Shares held on the Record Date. | 62,763 |
| General Category for all other Eligible Shareholders | 33 Equity Shares out of every 776 Fully paid-up Equity Shares held on the Record Date. | 3,02,406 |
Weizmann Ltd.'s revenue decreased by -8.93% and profit after tax (PAT) rose by 56.43% 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 | 97.20 | 101.87 | 109.44 |
| Revenue | 123.47 | 135.57 | 102.31 |
| Profit After Tax | 9.58 | 6.12 | 2.88 |
| Reserves and Surplus | 49.18 | 40.51 | 35.60 |
| Amount in ₹ Crore | |||
Incorporated in 1985, Weizmann Limited is currently involved in textile processing. The company operates a composite textile processing and manufacturing facility on 15,175 square meters of land at Vatva Road, Narol, Ahmedabad. The facility can manufacture 24 million meters per annum. Weizmann Limited's primary focus is on the African market, and the company has been exporting to the African continent for the past 25 years. The product range for Africa includes cotton voiles, percale, and African prints.
The company has invested in research and development and has successfully developed technology to emboss textiles after printing. It has also created a unique tie-and-dye effect in its export products. The company strongly focuses on the quality control process and has been recognized by the Government of India as a "One Star Export House" under the EXIM Policy.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 128.50 | 118.50 | 123.85 |
| Jun-2024 | 155.10 | 107.05 | 122.10 |
| May-2024 | 128.95 | 115.65 | 122.04 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 128.88 | 117.09 | 122.51 |
| Jun-2024 | 154.58 | 108.15 | 121.89 |
| May-2024 | 129.00 | 115.70 | 121.75 |
The Buyback is being undertaken for the following reasons:
Weizmann Ltd.
214, Empire House, Dr. D. N. Road,
Ent. A. K. Nayak Marg,
Fort, Mumbai- 400001
Mumbai, Maharashtra, 400001
Lead Manager(s)
Registered Broker
The Weizmann Buyback 2024 opens on September 5, 2024, and closes on September 11, 2024.
Last date to be eligible to participate in buyback is August 29, 2024.
The Weizmann Buyback 2024 is a Tender Offer.
Weizmann Buyback 2024 Schedule
| Buyback Opening Date | September 5, 2024 |
| Buyback Closing Date | September 11, 2024 |
| Last Date for receipt of Tender Forms | September 11, 2024 |
| Finalisation of Buyback Acceptance | September 17, 2024 |
| Last Date for settlment of bids | September 19, 2024 |
| Last Date for Extinguishment of Shares | September 30, 2024 |
The Weizmann Buyback 2024 is being offered at Rs ₹160 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 33 Equity Shares out of every 776 Fully paid-up Equity Shares held on the Record Date. | 62,763 |
| General Category for all other Eligible Shareholders | 33 Equity Shares out of every 776 Fully paid-up Equity Shares held on the Record Date. | 3,02,406 |
The issue size of Weizmann Buyback 2024 is 3,65,169 equity shares at ₹160 per share aggregating up to ₹5.84 Crores.
The Buyback is being undertaken 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 Weizmann 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.
