Bharat Rasayan will buyback nearly 93,472 shares for about Rs.108 Crore. In a filing to the stock exchanges, Bharat Rasayan said it will buyback percent of the fully paid-up equity shares at a price of Rs.11500/- per share.
The board of directors of Bharat Rasayan approved the proposal to buyback of not exceeding 93,472 Lakhs equity shares of face value of Rs 10 each of the company (representing 2.20% 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.11500/- per equity for an aggregate consideration not exceeding Rs 108 crores," it said.
Bharat Rasayan Buyback 2021 Offer Details:
| Buyback Type: | Tendor Offer |
| Buyback Record Date: | 05 March 2021 |
| Buyback Offer Amount: | ₹ 108 Crore |
| Date of Board Meeting approving the proposal: | Jan 12 2021 |
| Date of Public Announcement: | Jan 12 2021 |
| Buyback Offer Size: | 2.20% |
| Buyback Number of shares: | 93472 |
| Price Type: | Tendor Offer |
| FV: | Rs. 10 |
| Maximum Buyback Price: | ₹ 11,500 Per Equity Share |
Bharat Rasayan buyback of 93,472 equity shares which is around 2.20% of all the existing number of equity shares at a price of ₹11,500 per equity share. The buyback offer not exceeding of ₹108 crore of total buyback offer size.
Bharat Rasayan Buyback Important Dates
In this section we have covered all important dates related to “Bharat Rasayan Buyback Date”. Dates are updated as they are announced. The most noted dates are Bharat Rasayan record date and Bharat Rasayan buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Bharat Rasayan Buyback proposal | 12.01.2021 |
| Bharat Rasayan Buyback Approval date | 12.01.2021 |
| Public Announcement of Bharat Rasayan Buyback | 12.01.2021 |
| Bharat Rasayan Buyback Record Date | 05.03.2021 |
| Bharat Rasayan Buyback opens on/Buyback Opening Date | 03.2021 |
| Bharat Rasayan Buyback closes on/Buyback Closing Date | 03.2021 |
| Cut-off date to receive completed tender forms by Registrar | 01.2021 |
| Cut-off date for verification by the Registrar | 01.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
01.2021 |
| Last date of settlement of bids on the stock exchange | 01.2021 |
| Last date to return unaccepted shares by Registrar | 01.2021 |
| Last date of extinguishment of Equity Shares | 01.2021 |
Note: If anything you want to know about the buyback offer you can refer the Bharat Rasayan buyback offer documents. Click Here
How to Participate in Bharat Rasayan buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Bharat Rasayan 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.
Checkout Current Bharat Rasayan Shares market price on NSE and BSE: Bharat Rasayan
The Bharat Rasayan approved a proposal for buyback of up to 93,472 fully paid-up Equity Shares of the Company of face value Rs. 10 each, being 2.20% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements ("Audited Condensed Interim Financial Statements") as on 31.03.2020, for an aggregate amount not exceeding Rs. 108 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs. 11500 per share via " Tender Route".
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About Bharat Rasayan :
Bharat Group is the brainchild of a visionary Sat Narain Gupta, one of the pioneers of agrochemicals industry in India. Active in this arena since 1977, he initially floated Bharat Pesticides Manufacturing Company. In this venture, he found two like-minded partners in, Mahabir Prasad Gupta and Rajender Prasad Gupta. Today, their joint efforts have borne rich fruits as Bharat Group has created a niche in diverse segments of pest control within the country and abroad too.
Currently, BRL is the flagship enterprise of the conglomerate alongside the two sister concerns, Bharat Insecticides Limited (BIL) and BR Agrotech Limited (BRAL). The products portfolio consists of a wide spectrum of high quality eco-friendly pesticides, fungicides, herbicides, acaricides etc. to cater to every arena in the agricultural sector of crops (food and commercial), horticulture and floriculture, in applications for public health, house-keeping and veterinary treatment besides loss prevention in warehouses, depots and granaries. Apart from these, the group has also forayed into the packaging industry on an encouraging note.
NECESSITY OF BUYBACK By Bharat Rasayan
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
:a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
Bharat Rasayan
211 Agrawal Industrial Estate, S.V.Road,
Dahisar (East), Mumbai - 400068, INDIA
Phone: +91-961-977-2584
Fax: +91-22-28481557
Bharat Rasayan Buyback 2021 FAQs:
When is Bharat Rasayan Buyback Record Date?
Bharat Rasayan buyback 2021 record date is 05-Mar-2021.
When is Bharat Rasayan Buyback announcement Date?
Bharat Rasayan buyback 2021 announcement Date is 12-Jan-2021.
What is Bharat Rasayan Buyback Price?
The company has fixed the maximum price of ₹11,500
How to apply for Bharat Rasayan Buyback 2021?
As per the record date you need to have Bharat Rasayan shares in your demat account. You can participate in buyback after having the stock in your account.
