Axita Cotton Buyback 2023 vs BSE Buyback July 2023

Comparision between Axita Cotton Buyback 2023 and BSE Buyback July 2023.

Buyback Details

Axita Cotton Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while BSE Buyback July 2023 is a Tender Offer proposed to list at NSE.

Axita Cotton Limited

BSE Limited

Logo

Type of Buyback

Tender Offer

Listing At

BSE, NSE

NSE

Face Value

₹1 per share

₹2 per share

Buyback Price

₹56 per share

₹1080 per share

Issue Size

9,00,000 shares

34,70,370 shares

Issue Size (Amount)

₹5.04 Crores

₹374.80 Crores

Buyback Ratio

Category	Entitlement Ratio of Buyback	Shares Offered
Reserved Category for Small Shareholders	1 Equity Shares out of every 26 Fully paid-up Equity Shares held on the Record Date.	520,556.00
General Category for all other Eligible Shareholders	2 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date.	2,949,814.00

Registrar

Skyline Financial Services Private Ltd

Kfin Technologies Limited

Lead Managers

Beeline Capital Advisors Pvt Ltd

Nuvama Wealth Management Limited

Necessity of the buyback

The buyback is a capital allocation decision taken by the company. 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.

The proposed Buy-back will help the Company achieve the following objectives:

To return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.
The Buy Back, which is being implemented through the tender offer involving a reservation for Small Shareholders of 15%. The Company believes that this reservation of 15% for Small Shareholders would benefit a large number of public shareholders.
The Buy Back may help in improving return on equity.
The Buy Back gives an option to the shareholders holding Equity Shares of the Company, to either choose to participate and get cash in lieu of Equity Shares or choose not to participate and enjoy a resultant increase in their percentage shareholding.

Buyback Timetable

Axita Cotton Buyback 2023 and BSE Buyback July 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Axita Cotton Buyback 2023 Buyback record date is Jun 02, 2023. BSE Buyback July 2023 Buyback record date is Sep 14, 2023.

	Axita Cotton Limited	BSE Limited
Record Date	Jun 02, 2023	Sep 14, 2023
Offer Open Date	Jun 08, 2023	Sep 21, 2023
Offer Closure Date	Jun 14, 2023	Sep 27, 2023
Last date for receipt of tender forms	Jun 14, 2023	Sep 27, 2023
Finalisation of buyback	Jun 21, 2023	Oct 04, 2023
Last Date for settlment of bids	Jun 21, 2023	Oct 05, 2023
Last Date for extinguishment of shares	Jul 03, 2023	Oct 16, 2023

Financial Details and Other Relevent Information

Comparison of Axita Cotton Buyback 2023 and BSE Buyback July 2023 financial data. The table below also includes a list of all relevant information like Stock Market Data, Compay Information, Lead Manager and Registrar.

Axita Cotton Limited

BSE Limited

Financial

Axita Cotton Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth
31-Mar-21	107.23	618.94	3.73	21.82
31-Mar-22	109.10	830.46	15.41	36.26
31-Mar-23		557.62	17.04	52.37
Amount in ₹ Crore

BSE Buyback July 2023 Financial Information (Restated Consolidated)
Period Ended	31 Mar 2020	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	4,475.77	4,627.08	6,185.40	5,993.81
Revenue	630.00	654.65	863.53	953.94
Profit After Tax	120.61	141.70	244.93	205.65
Net Worth
Reserves and Surplus	2,406.39	2,473.64	2,613.13	2,648.25
Total Borrowing

Amount in ₹ Crore

Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Apr-2023	83.00	55.96	71.62
Mar-2023	58.43	50.60	52.35
Feb-2023	69.60	50.05	61.89

Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Aug-2023	1084.90	804.00	893.05
Jul-2023	814.00	611.75	733.72
Jun-2023	624.30	551.45	579.01

Compare with others

Axita Cotton Limited	BSE Limited
Indiamart Intermesh Buyback 2023	Larsen & Toubro Buyback 2023
James Warren Tea Buyback 2023	Aarti Drugs Buyback 2023
Goldiam International Buyback 2023	Indiamart Intermesh Buyback 2023
BSE Buyback July 2023	James Warren Tea Buyback 2023
Amrutanjan Health Care Buyback 2023	Goldiam International Buyback 2023
Welspun India Buyback 2023	Amrutanjan Health Care Buyback 2023
Wipro Buyback 2023	Axita Cotton Buyback 2023
Ashiana Housing Buyback 2023	Welspun India Buyback 2023
Emami Limited Buyback 2023	Wipro Buyback 2023
Godawari Power and Ispat Buyback 2023	Ashiana Housing Buyback 2023

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