Suprajit Engineering Buyback - Suprajit Engineering Buyback Price With Record Date and Other Details

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

    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 ActivityDate
    Board Meeting for Suprajit Engineering Buyback proposal10.02.2021
    Suprajit Engineering Buyback Approval date10.02.2021
    Public Announcement of  Buyback11.02.2021
    Buyback Record Date22.02.2021
    Buyback opens on/Buyback Opening Date2021
    Buyback closes on/Buyback Closing Date2021
    Cut-off date to receive completed tender forms by Registrar02.2021
    Cut-off date for verification by the Registrar02.2021
    Cut-off date to inform Stock Exchange on acceptance or
    non-acceptance of tendered Equity Shares by Registrar
    Last date of settlement of bids on the stock exchange02.2021
    Last date to return unaccepted shares by Registrar02.2021
    Last date of extinguishment of Equity Shares02.2021

    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?

    1. Firstly, to be eligible for the buyback the investor should have shares of Suprajit Engineering 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. 

    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.