Suprajit Engineering will buyback nearly 15,00,000 shares for about Rs.48 Crores (Rupees Forty Eight Crores Only). In a filing to the stock exchanges, Suprajit Engineering said it will buyback percent of the fully paid-up equity shares at a price of Rs.320/- per share.
The board of directors of Suprajit Engineering approved the proposal to buyback of not exceeding 15 Lakhs equity shares of face value of Rs 1 each of the company (representing 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.320 per equity for an aggregate consideration not exceeding Rs 48 crores," it said.
Suprajit Engineering BuyBack 2021 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | February 22 2021 |
| Buyback Offer Amount: | ₹ 48 Crore |
| Date of Board Meeting approving the proposal: | Feb 10 2021 |
| Date of Public Announcement: | Feb 10 2022 |
| Buyback Offer Size: | % |
| Buyback Number of shares: | 15,00,000 |
| Price Type: | Tender Offer |
| FV: | Rs. 2 |
| Buyback Price: | ₹ 320 Per Equity Share |
Suprajit Engineering buyback of 15,00,000 equity shares which is around % of all the existing number of equity shares at a price of ₹320 per equity share. The buyback offer not exceeding of ₹ 48 crore of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the Suprajit Engineering buyback offer documents. Click Here
NALCO (National Aluminium Company Limited) Buyback Important Dates
| Buyback Activity | Date |
|---|---|
| Board Meeting for Suprajit Engineering Buyback proposal | 10.02.2021 |
| Suprajit Engineering Buyback Approval date | 10.02.2021 |
| Public Announcement of Buyback | 11.02.2021 |
| Buyback Record Date | 22.02.2021 |
| Buyback opens on/Buyback Opening Date | 2021 |
| Buyback closes on/Buyback Closing Date | 2021 |
| Cut-off date to receive completed tender forms by Registrar | 02.2021 |
| Cut-off date for verification by the Registrar | 02.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 02.2021 |
| Last date of settlement of bids on the stock exchange | 02.2021 |
| Last date to return unaccepted shares by Registrar | 02.2021 |
| Last date of extinguishment of Equity Shares | 02.2021 |
Necessity of Buyback by Suprajit Engineering
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 Suprajit Engineering
Incorporated in 1985, Suprajit today has carved a niche for itself as a pioneer in the design and manufacture of Mechanical Control Cables and is recognized as India’s largest cable maker and worlds largest in the two-wheeler cable market. As a part of its Strategic expansion into Non-Automotive-Cables and Controls market Suprajit acquired Wescon Controls Inc USA in 2015 and had also diversified into Automotive Lighting business through acquisition of Phoenix Lamps Limited in 2014.
Head Quartered in Bangalore- India Suprajit has transitioned from a single product, single customer, single segment, single brand, single location company to a multi-product, multi-business, multi-customer, multi-brand, multi-location global company making it truly diversified without sacrificing its tenets on Quality, Cost, Delivery and Development. It is driven by its single-minded goal of “Customer Satisfaction” and in this pursuit of excellence it continues be recognised as “Value for Money Supplier” to customers across the spectrum.
The Suprajit Group is a global leader in the automotive cable and halogen bulb industry. With a competitive manufacturing base in India, UK, US and Mexico, along with our technical and logistical supports worldwide, the group provides the optimal product development and manufacturing solutions to its domestic and international customers. The Group comprises of Suprajit Engineering Limited (which includes Phoenix Lamps), Suprajit Automotive Limited, Suprajit Europe Limited, Wescon Controls LLC, and Suprajit Inc USA.
With a compounded annual growth of over 25+%, the group has one of the largest manufacturing capacities in world with 300+ million cables per year and 80+ million bulbs per year.
How to Participate in buyback?
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.
Suprajit Engineering Buyback 2021 FAQs:
When is Suprajit Engineering Buyback Record Date?
Suprajit Engineering buyback 2021 record date is 22 February 2021
When is Suprajit Engineering Buyback announcement Date?
Suprajit Engineering buyback 2021 announcement date is 10 February 2021.
What is Suprajit Engineering Buyback Price?
The company has fixed the price at ₹ 320
How to apply for Suprajit Engineering Buyback 2020?
As per the record date you need to have Suprajit Engineering shares in your demat account. You can participate in buyback after having the stock in your account.
