Kaveri Seed will buyback nearly 14,11,780 shares for about Rs.120 Crore. In a filing to the stock exchanges, Kaveri Seed said it will buyback percent of the fully paid-up equity shares at a price of Rs.850/- per share.
KAVERI SEED COMPANY LTD.board of directors of the company at its meeting held on i.e. 25.08.2021 considered and approved the proposal for buyback of fully paid-up Equity Shares of the face value of Rs.2/- not exceeding 14,11,780 Equity Shares (representing 11.67% of the total number of equity shares in the paid-up equity share capital of the Company) for an aggregate amount of Rs.120 Cr Only, of the total paid-up equity share capital and free reserves of the company as on March 31, 2021 (on a stand-alone and consolidated basis) at a price of Rs.850 on " Ope offer Basis"
Kaveri Seed Buyback 2021 Offer Details:
| Buyback Type: | Open Market |
| Buyback Record Date: | NA |
| Buyback Opening Date: | Sep 02, 2021 |
| Buyback Closing Date: | Mar 01, 2022 |
| Buyback Offer Amount: | ₹120 Crore |
| Date of Board Meeting approving the proposal: | Aug 25, 2021 |
| Date of Public Announcement: | Aug 25, 2021 |
| Buyback Offer Size: | 11.47% |
| Buyback Number of shares: | 14,11,780 |
| Price Type: | Open Market |
| FV: | ₹2 |
| Maximum Buyback Price: | ₹850 Per Equity Share |
Kaveri Seed buyback of 14,11,780 Lakhs equity shares which is around 11.47% of all the existing number of equity shares at a price of ₹850 per equity share. The buyback offers do not exceeding of ₹120 crores of the total buyback offer size.
Kaveri Seed Buyback Important Dates
In this section we have covered all important dates related to “Kaveri Seed Buyback Date”. Dates are updated as they are announced. The most noted dates are Kaveri Seed record date and Kaveri Seed buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Kaveri Seed Buyback proposal | 25.08.2021 |
| Kaveri Seed Buyback Approval date | 25.08.2021 |
| Public Announcement of Buyback | 25.08.2021 |
| Buyback Start Date ( Commencement Date ) | 02-09-2021 |
| Last date for the completion of the Buy-back | 01-03-2022 |
Note: If anything you want to know about the buyback offer you can refer the Kaveri Seed buyback offer documents. Click Here
How to Participate in Kaveri Seed Limited buyback?
In this method of share Buyback, the company will be purchasing stocks from existing shareholders of the company directly from the market.
Example: “Kaveri Seed ” announces buyback plan of its shares up to a value of Rs850, which means that the company will be purchasing shares of “Kaveri Seed ” from the open market at a price not exceeding Rs.850 per share.
Scenario 1- If the share price is below Rs. 850 in that case, the company will put buy order at Current Market Price and purchase shares.
Scenario 2- If the share price is above Rs. 850, in that case, the company will put buy order at Rs. 850 only and if someone is ready to sell at Rs.850 or less then only the company will get back shares.
Checkout Current Kaveri Seed Shares market price on NSE and BSE: Kaveri Seed
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About Kaveri Seed :
The Kaveri saga began in 1976 with the founder G.V.Bhaskar Rao a science graduate with his wife G Vanaja Devi as co-founder establishing a small seed production facility in Gatla Narsingapur village of Andhra Pradesh. In continuance of this entrepreneurial voyage, the idea sprouted as Kaveri Seeds, and the company was formally incorporated in the year 1986. Currently, Kaveri is one of the fastest-growing seed companies in India with a large network of over 15,000 distributors and dealers spread across the country. With over 700 employees and a strong product line of hybrids. The company is poised to go greater heights with its renewed focus on R&D and strong intent to invest in innovation by the management to deliver all brand promises. With one of the largest anthologies of crop germplasm in the country, Kaveri’s draught and disease resistant as well as high yielding hybrid and varietal portfolio include Cotton, Corn, Rice, Jowar, Bajra, as well as vegetables such as Tomato, Okra, and gourds.
Year on year Kaveri has been making great and delivering results and have been strides in its aggressive growth journey by focusing on :
a) Maintaining strong relationships with the farmers as well as channel partners Delivering value to all stakeholders.
b) Exceeding customer expectations in quality, responsiveness, and delivery Upholding a commitment to corporate citizenship by way of handholding farmers Building and retaining a diverse pool of talented employees An aggressive R&D and research focus to incessantly deliver the best of science.
NECESSITY OF BUYBACK By Kaveri Seed
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 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.
Kaveri Seed Buyback Lead Managers
Bajaj Capital Limited
Mezzanine Floor, Bajaj House, 97, Nehru Place, New Delhi-110019
Tel: 9849265491
Fax: 04027811237
Email: p.balraj@bajajcapital.com
Contact Person: P. Balraj
SEBI Registration No.: INM000010544
Company Contact Information
Kaveri Seed Company Ltd.
Vedantam Ravi Shanker Murti
Company Secretary
513-B, 5th Floor, Minerva Complex,
S.D. Road, Secunderabad-500003, Telangana
Tel. No 040-49192345;
Fax No.: 040-27811237
Email: cs@kaveriseeds.in
Kaveri Seed Buyback Registrar
To Be Updated Soon
Kaveri Seed Buyback 2021 FAQs:
When is the Kaveri Seed Record Date?
Kaveri Seed buyback 2021 record date is not available because it is an Open Market Offer.
What is Kaveri Seed Buyback Opening Date?
Kaveri Seed buyback 2021 Opening date is 02-Sep-2021.
What is Kaveri Seed Buyback Closing Date?
Kaveri Seed buyback 2021 Closing date is 01-Mar-2022.
When is Kaveri Seed Buyback Announcement Date?
Kaveri Seed buyback 2021 announcement Date is 25 Aug 2021.
What is Kaveri Seed Buyback Price?
The company has fixed the maximum price of ₹850
How to apply for Kaveri Seed Buyback 2021?
As per the record date you need to have Kaveri Seed shares in your Demat account. You can participate in buyback after having the stock in your account.
