Tender Offer | ₹235.00 Crores | Listed at BSE, NSE | Thu, Mar 16, 2023 - Fri, Mar 31, 2023
Welspun Enterprises Ltd. Buyback is a tender offer for the repurchase of up to 1.18 crore equity shares at a buyback price of ₹200 per share with a face value of ₹10 per share, aggregating to ₹235.00 crores.
The record date for determining eligible shareholders is Feb 13, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 16, 2023 and closes on Mar 31, 2023, with the last date for receipt of tender forms being Mar 31, 2023.
The finalisation of buyback acceptance is expected on Apr 12, 2023, followed by settlement of bids on Apr 13, 2023.
Dam Capital Advisors Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and DAM Capital Advisors Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Welspun Enterprises Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Mar 16, 2023
Offer Closing Date
Fri, Mar 31, 2023
Buyback Price
₹200 per share
Record Date
February 13, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 37 Fully paid-up Equity Shares held on the Record Date. | 1,762,500.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 14 Fully paid-up Equity Shares held on the Record Date. | 9,987,500.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-21 | 3186.75 | 1671.52 | 130.18 | 1818.85 |
| 31-Mar-22 | 3492.29 | 1574.99 | 126.1 | 1894.17 |
| Amount in ₹ Crore | ||||
Welspun Enterprises Limited (WEL) is a substantial part of the Welspun Group. The group is engaged in a variety of operations and businesses. It caters to a different set of customers by way of quality and efficient delivery of products and services.
The key activities of Welspun Enterprises Limited are in the infrastructure business. Also, the entity holds equity investments in Welspun Natural Resources Private Limited.
Through the years, the company has undertaken and completed various PPP projects in sectors like roads, water, and urban infrastructure.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2022 | 172.20 | 142.00 | 160.95 |
| Nov-2022 | 159.00 | 128.70 | 138.50 |
| Oct-2022 | 131.75 | 119.10 | 126.27 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2022 | 172.20 | 143.70 | 160.90 |
| Nov-2022 | 159.30 | 128.15 | 138.52 |
| Oct-2022 | 131.75 | 119.75 | 126.32 |
The Buy-back is being undertaken for the following reasons:
Welspun Enterprises Ltd.
Welspun House, 5th Floor,
Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai - 400 013
Mumbai, Maharashtra, 400013
Lead Manager(s)
Registered Broker
The Welspun Enterprises Buyback opens on March 16, 2023, and closes on March 31, 2023.
Last date to be eligible to participate in buyback is February 10, 2023.
The Welspun Enterprises Buyback is a Tender Offer.
Welspun Enterprises Buyback Schedule
| Buyback Opening Date | March 16, 2023 |
| Buyback Closing Date | March 31, 2023 |
| Last Date for receipt of Tender Forms | March 31, 2023 |
| Finalisation of Buyback Acceptance | April 12, 2023 |
| Last Date for settlment of bids | April 13, 2023 |
| Last Date for Extinguishment of Shares | April 20, 2023 |
The Welspun Enterprises Buyback is being offered at Rs ₹200 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 37 Fully paid-up Equity Shares held on the Record Date. | 1,762,500.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 14 Fully paid-up Equity Shares held on the Record Date. | 9,987,500.00 |
The issue size of Welspun Enterprises Buyback is 1,17,50,000 equity shares at ₹200 per share aggregating up to ₹235.00 Crores.
The Buy-back 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 Welspun Enterprises 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.
