eClerx Services will buyback nearly 9,46,875 shares for about Rs.303 Crore. In a filing to the stock exchanges, eClerx Services said it will buyback percent of the fully paid-up equity shares at a price of Rs.3200/- per equity share.
The Board approved the proposal of Eclerx buyback of fully paid-up equity shares of face value 10 each of the Company for an amount not exceeding 303 Crores. Eclerx Buyback 2021 Size is being 24.98% and 20.59% of the aggregate of the total paid-up Equity Share capital and free reserves of the Company based on the latest standalone and consolidated audited financial statements of the Company respectively as of March 31, 2021. Eclerx Buyback 2021 price is 3,200 per Equity Share through the "tender offer" route, on a proportionate basis.
eClerx Services Buyback 2021 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Sep 30, 2021 |
| Buyback Opening Date: | 2021 |
| Buyback Closing Date: | 2021 |
| Buyback Offer Amount: | ₹ 303 Crore |
| Date of Board Meeting approving the proposal: | Sep 16, 2021 |
| Date of Public Announcement: | Sep 18, 2021 |
| Buyback Offer Size: | 20.59% |
| Buyback Number of shares: | 9,46,875 |
| Price Type: | Tender Route |
| FV: | Rs.10 |
| Maximum Buyback Price: | ₹ 3200 Per Equity Share |
Details Of eClerx Services Buyback
The Board of Directors of the eClerx Services at its meeting held on Aug 13, 2021, has approved a proposal to buy back up to 9,46,859 Equity Shares of the Company, being 20.59% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs. 303 Cr, for Rs. 3200 per Equity Share through " Tender Route".
eClerx Services Buyback Important Dates
In this section, we have covered all important dates related to “eClerx Services Buyback Date”. Dates are updated as they are announced. The most noted dates are the eClerx Services record date and eClerx Services buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for eClerx Services Buyback proposal | Aug 13, 2021 |
| eClerx Services Buyback Approval date | Sep 16, 2021 |
| Public Announcement of eClerx Services Buyback | Sep 18, 2021 |
| eClerx Services Buyback Record Date | Sep 30, 2021 |
| eClerx Services Buyback opens on/Buyback Opening Date | 2021 |
| eClerx Services Buyback closes on/Buyback Closing Date | 2021 |
| Cut-off date to receive completed tender forms by Registrar | 2021 |
| Cut-off date for verification by the Registrar | 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
2021 |
| Last date of settlement of bids on the stock exchange | 2021 |
| Last date to return unaccepted shares by Registrar | 2021 |
| Last date of extinguishment of Equity Shares | 2021 |
Note: If anything you want to know about the buyback offer you can refer the eClerx Services buyback offer documents. Click Here
How to Participate in eClerx Services buyback?
- Firstly to be eligible for the buyback the investor should have shares of eClerx Services Buyback 2021 in Demat or physical form as on record date [Not Announced].
- 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.
- 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 eClerx Services Shares market price on NSE and BSE: eClerx Services
Profit from the buyback on the basis of acceptance Ratio:
Buy 62 Share at CMP of Rs.2170 [2,00,000/3200=62 )| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,34,540 | 1,34,540 | 1,34,540 | 1,34,540 |
| No. of Shares buyback | 20 | 31 | 46 | 62 |
| BuyBack Profit | 20,600 | 31,930 | 47,380 | 63,860 |
| Profit% | 15% | 23% | 35% | 47% |
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About eClerx Services:
eClerx was founded in 2000 by Anjan Malik and PD Mundhra with the goal of transitioning, managing, and transforming complex business processes. Following successful careers in investment banking, Anjan and PD, graduates of the University of Pennsylvania’s Wharton School of Business, jointly identified significant opportunities for providing innovative services and solutions to large global companies undergoing rapid business transformation challenged by legacy systems, new technology, data inaccuracies, and ever-changing processes and workflows. Created from humble beginnings in a small office in Mumbai, today eClerx employs over 9000 people with offices located in the US, UK, India, Italy, Ireland, Thailand, and Singapore.
NECESSITY OF BUYBACK By eClerx Services
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 a reduction in the equity base, thereby leading to a 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 place 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 per 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
Sonawala Building, 1st Floor,
29 Bank Street, Fort,
Mumbai – 400 023,
Maharashtra, India
Phone: +91 (022) 6614 8301
Fax : +91 (022) 6614 8655
eClerx Services Buyback Registrar
Contact Person: Mr.M Murali KrishnaRegd. Off.: Selenium Tower B, Plot 31-32,Financial District, Nanakramguda,Serilingampally Mandal, Hyderabad - 500 032,TelanganaTel.: + 91-40-67162222Fax: + 91-40-23431551Toll Free No: 18003094001Email: eclerx.buyback@kfintech.comWebsite: www.kfintech.comSEBI Regn. No.:INR000000221Validity Period: PermanentCIN: U72400TG2017PTC11764
eClerx Services Buyback 2021 FAQs:
When is eClerx Services Record Date?
eClerx Services buyback 2021 record date is Sep 30, 2021.
What is the eClerx Services Buyback Opening Date?
eClerx Services buyback 2021 Opening date is not announced yet.
What is the eClerx Services Buyback Closing Date?
eClerx Services buyback 2021 Closing date is not announced yet.
When is eClerx Services Buyback Announcement Date?
eClerx Services buyback 2021 announcement Date is 18-Sep-2021.
What is eClerx Services Buyback Price?
The company has fixed the maximum price of ₹3200
How to apply for eClerx Services Buyback 2021?
As per the record date you need to have eClerx Services shares in your Demat account. You can participate in buyback after having the stock in your account.
