The board of Cosmo Films on Monday approved buyback of shares worth ₹73 crore. The company will buyback 12.67 lakh shares, representing 6.52 per cent, of the total paid-up capital as on March 31, 2020, at ₹576 a share, Cosmo Films informed the exchanges.
The buyback would on a proportionate basis, from all the shareholders of the company who hold the shares as of the record date (November 9) through the tender offer. The board noted the intention of its promoters and promoter group to participate in the buyback. Shares of Cosmo Films on Monday closed 0.94 per cent higher at ₹471.65 on the BSE.
The company has fixed 9 November, 2020 as the Record Date for determining the entitlement and the names of the Eligible Shareholders / Beneficial Owners to whom the letter of offer will be sent and who will be eligible to participate in the Buyback.
The board has delegated the necessary authority to the Buyback Committee to do all such acts, deeds, matters and things as it may at its absolute discretion, deem necessary expedient, usual or proper in connection with the Buyback.
Shares of COSMO FILMS LTD. was last trading in BSE at Rs.467.25 as compared to the previous close of Rs. 456.15. The total number of shares traded during the day was 13528 in over 896 trades.
The stock hit an intraday high of Rs. 478.25 and intraday low of 455.05. The net turnover during the day was Rs. 6315639.
Cosmo Films Limited BuyBack 2020 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | ₹ 73 Cr |
| Date of Board Meeting approving the proposal: | Oct 26 2020 |
| Record Date | Nov 09 2020 |
| Buyback Offer Size: | 6.52% |
| Buyback Number of Shares: | 12,67,361 Shares |
| Price Type: | Tender Offer |
| FV: | 10 |
| Buyback Price: | ₹ 576 Per Equity Share |
Cosmo Films Limited buyback of 12.67 Lakh equity shares which is around 6.52% of all the existing number of equity shares at a price of ₹576 per equity share. The buyback offer not exceeding of ₹73 crore of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the Cosmo Films Limited buyback offer documents.
How to Participate in Cosmo Films Ltd Buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Cosmo Films Limited in demat or physical form as on record date (not announced)
2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
Cosmo Films Limited Buyback 2020 FAQs:
When is Cosmo Films Limited Buyback Record Date?
Comso Films Limited buyback 2020 record date is not announced yet.
When is Cosmo Films Limited Buyback announcement Date?
Cosmo Films Limited buyback 2020 record date is 09 November 2020.
What is Cosmo Films Limited Buyback Price?
The company has fixed the price at ₹576
How to apply for Cosmo Films Limited Buyback 2020?
As per the record date you need to have Cosmo Films Limited shares in your demat account. You can participate in buyback after having the stock in your account.
