Tender Offer | ₹8.48 Crores | Listed at BSE, NSE | Thu, Jan 13, 2022 - Thu, Jan 27, 2022
Weizmann Ltd. Buyback is a tender offer for the repurchase of up to 0.14 crore equity shares at a buyback price of ₹60 per share with a face value of ₹10 per share, aggregating to ₹8.48 crores.
The record date for determining eligible shareholders is Dec 10, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jan 13, 2022 and closes on Jan 27, 2022, with the last date for receipt of tender forms being Jan 27, 2022.
The finalisation of buyback acceptance is expected on Feb 4, 2022, followed by settlement of bids on Feb 7, 2022.
Keynote Financial Services Ltd. is the Manager to the Buyback and Bigshare Services Pvt.Ltd. is the Registrar and Keynote Capitals Limited 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, Jan 13, 2022
Offer Closing Date
Thu, Jan 27, 2022
Buyback Price
₹60 per share
Record Date
December 10, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 35 Equity Shares out of every 284 shares held on the record date. |
| General Category for all other Eligible Shareholders | 43 Equity Shares out of every 557 shares held on the record date. |
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 464.21 | 982.82 | 964.82 | 1,066.67 |
| Profit After Tax | -0.89 | 49.22 | 43.20 | 85.69 |
Incorporated in 1985, Weizmann Limited is currently engaged in the business of Textile Processing. The company has a composite Textile Processing and Manufacturing Facility on 15,175 sq. mt. land at Vatva Road, Narol, Ahmedabad with an installed capacity to manufacture 24 million meters per annum. Weizmann Limited primarily focuses on the African market and the company has been exporting to the African continent for the last 25 years. The product range for Africa includes Cotton Voiles, Pracale and African Prints.
The Company has invested in R&D and has successfully developed technology to emboss textiles after the printing process as well as create a unique tie and dye effect in its products for export. The company also has a strong focus 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 |
|---|---|---|---|
| Nov-2021 | 55.70 | 50.50 | 52.86 |
| Oct-2021 | 65.00 | 45.75 | 54.26 |
| Sep-2021 | 51.65 | 46.00 | 47.95 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 55.50 | 50.60 | 52.90 |
| Oct-2021 | 64.40 | 46.10 | 54.10 |
| Sep-2021 | 50.85 | 45.40 | 47.89 |
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
Weizmann Ltd.
Empire House, 214 Dr.D N Road,
Ent A K Nayak Marg, Fort,
Mumbai - 400 001. India.
Mumbai, Maharashtra, 400001
Lead Manager(s)
Registered Broker
The Weizmann Buyback opens on January 13, 2022, and closes on January 27, 2022.
The Weizmann Buyback last day to buy is not available as of now.
The Weizmann Buyback is a Tender Offer.
Weizmann Buyback Schedule
| Buyback Opening Date | January 13, 2022 |
| Buyback Closing Date | January 27, 2022 |
| Last Date for receipt of Tender Forms | January 27, 2022 |
| Finalisation of Buyback Acceptance | February 4, 2022 |
| Last Date for settlment of bids | February 7, 2022 |
| Last Date for Extinguishment of Shares | February 14, 2022 |
The Weizmann Buyback is being offered at Rs ₹60 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 35 Equity Shares out of every 284 shares held on the record date. |
| General Category for all other Eligible Shareholders | 43 Equity Shares out of every 557 shares held on the record date. |
The issue size of Weizmann Buyback is 14,12,515 equity shares at ₹60 per share aggregating up to ₹8.48 Crores.
The Buyback aims to :
i) Distribute surplus funds to shareholders and thereby enhance their overall return.
ii) Improve financial ratios like Earnings per share (EPS), Return on assets (ROA) and Return on Equity (ROE).
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 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.
