Tender Offer | ₹600.00 Crores | Listed at BSE, NSE | Thu, Feb 29, 2024 - Wed, Mar 6, 2024
Zydus Lifesciences Ltd. Buyback is a tender offer for the repurchase of up to 0.60 crore equity shares, representing 0.59% of the total paid-up equity share capital at a buyback price of ₹1005 per share with a face value of ₹1 per share, aggregating to ₹600.00 crores.
The record date for determining eligible shareholders is Feb 23, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Feb 29, 2024 and closes on Mar 6, 2024, with the last date for receipt of tender forms being Mar 6, 2024.
The finalisation of buyback acceptance is expected on Mar 13, 2024, followed by settlement of bids on Mar 14, 2024.
ICICI Securities Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and ICICI Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Zydus Lifesciences Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Feb 29, 2024
Offer Closing Date
Wed, Mar 6, 2024
Buyback Price
₹1005 per share
Record Date
February 23, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 6 Equity Shares out of every 67 Fully paid-up Equity Shares held on the Record Date. | 895,523.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 395 Fully paid-up Equity Shares held on the Record Date. | 5,074,626.00 |
Zydus Lifesciences Limited's revenue increased by 17.07% and profit after tax (PAT) rose by 78.25% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Revenue | 9,553.50 | 8,160.60 | 7,869.30 |
| Profit After Tax | 1,529.20 | 857.90 | 1,476.20 |
| Net Worth | 17,515.80 | 16,999.60 | 12,992.30 |
| Reserves and Surplus | 1,801.75 | ||
| Total Borrowing | 1,163.20 | 4,196.00 | 4,583.50 |
| Amount in ₹ Crore | |||
Zydus Lifesciences Limited is an Indian Pharmaceutical company that offers healthcare services globally.
The company manufactures formulations, APIs, vaccines, biosimilars, complex products (transdermals, topical, etc.), animal health products, and wellness products.
Zydus Lifesciences Limited has over 30 manufacturing plants worldwide, including India, Germany, Brazil & USA. Zydus Lifesciences Limited is the fourth-largest pharmaceutical company in India. Zydus Lifesciences was formerly known as Cadila Healthcare Limited.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2024 | 765.50 | 684.75 | 719.52 |
| Dec-2023 | 696.65 | 630.15 | 657.86 |
| Nov-2023 | 649.00 | 570.35 | 619.04 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2024 | 766.00 | 685.00 | 719.72 |
| Dec-2023 | 696.50 | 630.00 | 658.11 |
| Nov-2023 | 649.05 | 630.00 | 619.14 |
The Buyback will help the company to distribute a part of the surplus cash to its shareholders holding equity shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in the longer term, and improving the return on equity.
Zydus Lifesciences Ltd.
Zydus Corporate Park, Scheme No. 63,
Khoraj (Gandhinagar), 536, Sarkhej-Gandhinagar Hwy
Near Vaishnodevi Circle, Ahmedabad, 382481
Ahmedabad, Gujarat, 382481
Lead Manager(s)
Registered Broker
The Zydus Lifesciences Buyback 2024 opens on February 29, 2024, and closes on March 6, 2024.
Last date to be eligible to participate in buyback is February 22, 2024.
The Zydus Lifesciences Buyback 2024 is a Tender Offer.
Zydus Lifesciences Buyback 2024 Schedule
| Buyback Opening Date | February 29, 2024 |
| Buyback Closing Date | March 6, 2024 |
| Last Date for receipt of Tender Forms | March 6, 2024 |
| Finalisation of Buyback Acceptance | March 13, 2024 |
| Last Date for settlment of bids | March 14, 2024 |
| Last Date for Extinguishment of Shares | March 26, 2024 |
The Zydus Lifesciences Buyback 2024 is being offered at Rs ₹1005 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 6 Equity Shares out of every 67 Fully paid-up Equity Shares held on the Record Date. | 895,523.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 395 Fully paid-up Equity Shares held on the Record Date. | 5,074,626.00 |
The issue size of Zydus Lifesciences Buyback 2024 is 59,70,149 equity shares at ₹1005 per share aggregating up to ₹600.00 Crores.
The Buyback will help the company to distribute a part of the surplus cash to its shareholders holding equity shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in the longer term, and improving the return on equity.
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 Zydus Lifesciences 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.
