Atul Limited will buyback nearly 68,965 shares for about Rs.50,00,00,000/- (Rupees fifty crores only)/-. In a filing to the stock exchanges, Atul Limited said it will buyback 0.23 percent of the fully paid-up equity shares at a price of Rs.7250/- per share.
The board of directors of Atul Limited approved the proposal to buyback of not exceeding 68,965 equity shares of face value of Rs 10 each of the company (representing 0.23% percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs 7250 per equity for an aggregate consideration not exceeding Rs 50 crore," it said.
Atul Limited BuyBack 2021 Offer Deal:
| Buyback Type: | Open Market Offer |
| Buyback Record Date: | N/A |
| Buyback Offer Amount: | ₹ 50 Crore |
| Date of Board Meeting approving the proposal: | Jan 29 2021 |
| Date of Public Announcement: | Feb 01 2021 |
| Buyback Offer Size: | 0.23% |
| Buyback Number of shares: | 68,965 |
| Price Type: | Open Market |
| FV: | Rs. 10 |
| Buyback Price: | ₹ 7250 Per Equity Share |
Atul Limited buyback of 68,965 equity shares which is around 0.23% of all the existing number of equity shares at a price of ₹7250 per equity share. The buyback offer not exceeding of ₹ 50 crore of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the Atul Limited buyback offer documents. Click Here
Atul Limited Buyback Important Dates
| Buyback Activity | Date |
|---|---|
| Board Meeting for Atul Limited Buyback proposal | 29.01.2021 |
| Atul Limited Buyback Approval date | 29.01.2021 |
| Public Announcement of Buyback | 01.02.2021 |
| Buyback Start Date ( Commencement Date ) | 10-02-2021 |
| Last date for the completion of the Buy-back | 09-08-2021 |
Necessity of Buyback by Atul Limited
Buy-back is the acquisition by a company of its own shares. Buy-back is an efficient form of returning surplus cash to the members holding equity shares of the Company, inter-alia, for the following reasons:
i. The Buy-back will help the Company to return surplus cash to its members holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to members;
ii. The Buy-back, which is being implemented through the Tender Offer route as prescribed under the Buy-back Regulations, would involve allocation of higher of number of shares as per their entitlement or 15% of the number of shares to be bought back, reserved for the small shareholders. The Company believes that this reservation of 15% for small shareholders would benefit a large number of public shareholders, who would get classified as "small shareholder;
iii. The Buy-back would help in improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders' value; and
iv. The Buy-back gives an option to the members holding equity shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buy-back offer or they may choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buy-back offer, without additional investment.
About Atul Limited
Atul Limited is an improvement driven, integrated chemical company serving about 4,000 customers belonging to 30 industries across the world. The Company has established subsidiary companies in the USA (1994), the UK (1996), China (2004), Brazil (2012) and the UAE (2015) to serve its customers and thus enhance breadth and depth of its business.
With depth in science and technology, Atul manages almost all unit processes and unit operations to manufacture about 1,350 products and formulations and has state-of-the-art facilities and processes to ensure safety and treatment of gaseous, liquid and solid pollutants. The Company is ISO 14001 certified.
Atul established successful joint venture companies with world-renowned multi-national companies namely American Cyanamid Company (now a part of BASF AG and Pfizer Inc) in 1947, Imperial Chemical Industries plc (now a part of Akzo Nobel and Astra Zeneca plc) in 1955 and Ciba-Geigy Ltd (now a part of BASF AG and Huntsman Corporation) in 1960.
Atul was founded on September 05, 1947 – a month after Indian independence – by Kasturbhai Lalbhai, an institution builder par excellence and a legendary Indian of his times. The Company was a manifestation of his dream to generate large-scale employment, create wealth in rural India and make the country self-sufficient in its requirements of chemicals.
How to Participate in buyback?
Atul Limited Buyback 2021 FAQs:
When is Atul Limited Buyback Start Date?
Atul Limited buyback 2021 start date is 10 February 2021
When is Atul Limited Buyback announcement Date?
Atul Limited buyback 2021 announcement date is 01 Feb 2021.
What is Atul Limited Buyback Price?
The company has fixed the price at ₹ 7250
What is Atul Limited Buyback Last Date?
Atul Limited buyback Last Date is 09 Aug 2021.
