Atul Limited Buyback - Atul Limited Buyback Price With Record Date and Other Details

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

    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 0.23of 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 ActivityDate
    Board Meeting for Atul Limited Buyback proposal29.01.2021
    Atul Limited Buyback Approval date29.01.2021
    Public Announcement of  Buyback01.02.2021
    Buyback Start Date ( Commencement Date )10-02-2021
    Last date for the completion of the Buy-back09-08-2021

    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?

    1. The Buy-back is open to all shareholders | beneficial owners holding the Equity Shares in de-materialized form (“Demat Shares”). Shareholders holding Equity Shares in physical form can participate in the Buy-back after such Equity Shares are de-materialized by approaching depository participant. However, in accordance with Regulation 16
    (ii) of the Buy-back Regulations, the Buy-back will not be made from the Promoters and Promoter Group of the Company.

    2. Further, as required under the Act and the Buy-back Regulations, the Company will not buy back any Equity Shares which are locked-in or non-transferable, until the pendency of such lock-in, or until the time such Equity Shares become freely transferable, as applicable.

    3. The Buy-back will be implemented by the Company in accordance with Regulation 4(iv)(b)(ii) read with Regulation 16 of the Buy-back Regulations from the open market through the Stock Exchanges having nationwide terminal, using the order matching mechanism except “all or none” order matching system as provided under the Buy-back Regulations.

    4. For implementation of the Buy-back, the Company has appointed Edelweiss Broking Limited as the registered broker to the Company (the “Company’s Broker”) through whom the purchases and settlements on account of the Buy-back will be made by the Company. The contact details of the Company’s Broker are as follows:
    Name: Edelweiss Broking Limited
    Registered office: 2nd floor,
    Office no. 201 to 203, Zodiac Plaza,
    Xavier College Road, Off CG Road,
    Ahmedabad - 380 009, Gujarat
    Contact person: Mr Nikunj Patel
    Phone: (+91-79) 40019900 | (+91) 92233 54802
    SEBI registration number: INZ000005231
    CIN: U65100GJ2008PLC077462

    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.