Jagran Prakashan Limited Buyback Price With Record Date and Other Details

Jagran Prakashan Limited will buyback nearly 1,96,66,666 crore shares for about Rs.118/- crore (Rupees One Hundred and Eighteen crore only)/-. In a filing to the stock exchanges, Jagran Prakashan Limited said it will buyback 9.97% percent of the fully paid-up equity shares at a price of Rs.60/- per share.

The board of directors of Jagran Prakashan Limited approved the proposal to buyback of not exceeding 1,96,66,666 crore equity shares of face value of Rs 2 each of the company (representing 9.97% 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 60 per equity for an aggregate consideration not exceeding Rs 118 crore," it said.

    Jagran Prakashan Limited Buyback

    Jagran Prakashan Limited BuyBack 2021 Offer Deal:

    Buyback Type:Open Market Offer
    Buyback Record Date: N/A
    Buyback Offer Amount: ₹ 118 Crore
    Date of Board Meeting approving the proposal: Mar 02 2021
    Date of Public Announcement: Mar 04 2021
    Buyback Offer Size: 9.97%
    Buyback Number of shares: 1,96,66,666
    Price Type: Open Market 
    FV: Rs. 2
    Buyback Price: ₹ 60 Per Equity Share

    Jagran Prakashan Limited buyback of 1,96,66,666 equity shares which is around 9.97of all the existing number of equity shares at a price of ₹60 per equity share. The buyback offer not exceeding of ₹ 118 crore of total buyback offer size.

    Note: If anything you want to know about the buyback offer you can refer the Jagran Prakashan Limited offer documents. Click Here


    Jagran Prakashan Limited Buyback Important Dates

    Buyback ActivityDate
    Board Meeting for Jagran Prakashan Limited Buyback proposal02.03.2021
    Jagran Prakashan Limited Buyback Approval date02.03.2021
    Public Announcement of  Buyback04.03.2021
    Buyback Start Date ( Commencement Date )08-03-2021
    Last date for the completion of the Buy-back07-09-2021

    Necessity of Buyback by Jagran Prakashan 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 Jagran Prakashan Limited

    Jagran Prakashan Limited was incorporated on 18 July 1975 under the Companies Act as "Jagran Prakashan Private Limited" and, subsequently, became a deemed public limited company under Section 43A of the Companies Act. In 2000, upon amendment of Section 43A of the Companies Act, The Company chose to keep its status as a public limited company pursuant to shareholders resolution passed on 31 August 2000. In 2004, The Company was again converted into a private limited company as per the stipulations under the Original Shareholders Agreement and pursuant to shareholders resolution passed on 28 September 2004. Further, on 23 November 2005. The Company was converted into a public limited company in the light of the Issue pursuant to a shareholders resolution passed on 18 November 2005.

    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:

    Registrar Of Jagran Prakashan Limited Buyback

    KFintech Private Limited
    Selenium Building, Tower-B, Plot No 31 & 32,
    Financial District,Nanakramguda, Serilingampally,
    Rangareddi, Telangana India - 500 032.
    Phone: 1-800-3454001
    Email: jagran.buyback@kfintech.com
    Website: https://karisma.kfintech.com/


    Jagran Prakashan Limited Buyback 2021 FAQs:

    When is Jagran Prakashan Limited Buyback Start Date?
    Jagran Prakashan Limited buyback 2021 start date is 08 March 2021

    When is Jagran Prakashan Limited Buyback announcement Date?
    Jagran Prakashan Limited buyback 2021 announcement date is 04 Mar 2021.

    What is Jagran Prakashan Limited Buyback Price?
    The company has fixed the price at ₹ 60

    What is Jagran Prakashan Limited Buyback Last Date?
    Jagran Prakashan Limited buyback Last Date is 07 Sep 2021.