Ajanta Pharma Ltd made a Public Announcement to the Buyback (as defined hereinafter) pursuant to the provisions of Regulation 7(i) and other applicable provisions of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (the “Buyback Regulations”) for the time being in force including any statutory modifications and amendments from time to time and contains the disclosures as specified in Schedule II to the Buyback Regulations read with Schedule I of the Buyback Regulations.
Board of Directors of the Company, at its meeting held today, i.e., December 28, 2021, has inter-alia unanimously approved Buy-back of up to 11,20,000 fully paid-up Equity Shares of the face value of ₹ 2/- each by the Company at a price of ₹ 2,550/- per Equity Share payable in cash for a total consideration not exceeding ₹ 285.60 crores which are not exceeding 10% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited financial statements of the Company for the financial year ended on March 31, 2021, through the “Tender Offer” route.
Ajanta Pharma BuyBack 2022 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Jan 14, 2022 |
| Buyback Opening Date: | Feb 3, 2022 |
| Buyback Closing Date: | Feb 16, 2022 |
| Buyback Offer Amount: | ₹285.60 Crore |
| Date of Board Meeting approving the proposal: | Dec 28, 2021 |
| Date of Public Announcement: | Dec 28, 2021 |
| Buyback Offer Size: | 1.29% |
| Buyback Number of shares: | 11,20,000 |
| Price Type: | Tender Route |
| FV: | Rs.2 |
| Maximum Buyback Price: | ₹ 2550 Per Equity Share |
Details Of Ajanta Pharma Buyback
The Board of Directors of Ajanta Pharma at its meeting held on Dec 28, 2021, has approved a proposal to buy back up to 11,20,000 Equity Shares of the Company, being 1.29% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs.285.60 Cr. for Rs.2550 per Equity Share through " Tender Route".
Ajanta Pharma Buyback Important Dates
In this section, we have covered all important dates related to “Ajanta Pharma Buyback Date”. Dates are updated as they are announced. The most noted dates are the Ajanta Pharma record date and Ajanta Pharma buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Ajanta Pharma Buyback proposal | Dec 28, 2021 |
| Ajanta Pharma Buyback Approval date | Dec 28, 2021 |
| Public Announcement of Ajanta Pharma Buyback | Dec 30, 2021 |
| Ajanta Pharma Buyback Record Date | Jan 14, 2022 |
| Ajanta Pharma Buyback opens on/Buyback Opening Date | Feb 3, 2022 |
| Ajanta Pharma Buyback closes on/Buyback Closing Date | Feb 16, 2022 |
| Cut-off date to receive completed tender forms by Registrar | Feb 16, 2022 |
| Cut-off date for verification by the Registrar | Feb 24, 2022 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
Feb 24, 2022 |
| Last date of settlement of bids on the stock exchange | Feb 25, 2022 |
| Last date to return unaccepted shares by Registrar | Feb 25, 2022 |
| Last date of extinguishment of Equity Shares | Mar 4, 2022 |
Note: If anything you want to know about the buyback offer you can refer the Ajanta Pharma buyback offer documents. Click Here
How to Participate in Ajanta Pharma buyback?
- Firstly to be eligible for the buyback the investor should have shares of Ajanta Pharma Buyback 2022 in Demat or physical form as on record date Jan 14,2022.
- Once you have shares in Demat, you can participate in the buyback process which is opening from [Feb 3,2022 - Feb 16, 2022 ] by selling your shares through your broker on NSE or BSE.
- Then on [Feb 25, 2022], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Checkout Current Ajanta Pharma Shares market price on NSE and BSE: MOIL
Profit from the buyback on the basis of acceptance Ratio:
Buy 78 Shares at CMP of Rs. 2,264 (2,00,000/2550=78)| Acceptance Ratio | 33% | 50% | 75% | 100% |
|---|---|---|---|---|
| Amount Invested in Buyback | 1,76,592 | 1,76,592 | 1,76,592 | 1,76,592 |
| No. of Shares buyback | 25 | 39 | 59 | 78 |
| BuyBack Profit | 7150 | 11154 | 16874 | 22308 |
| Profit | 4.0% | 6.3% | 9.5% | 12.6% |
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About Ajanta Pharma:
Ajanta Pharma is a multinational company based out of India engaged in the development, manufacturing, and marketing of pharmaceutical formulations. In India, the company has a presence in high-growth specialty segments of cardiology, dermatology, ophthalmology, and pain management. Emerging markets are the major contributors to the company's branded generic business where they are present across Asia and Africa. Ajanta Pharma serves a wide range of therapeutic segments like Anti-Biotic, Anti-Malarial, Anti-Diabetic, Cardiology, Gynecology, Orthopedics, Pediatric, Respiratory & General Health products in this region.
The company's Institutional business comprises supplies to various government bodies in India and supplies of Anti-Malarial products under WHO-approved programs in Africa. Ajanta Pharma's products are sold in over 30 countries and the company employs around 7,000 people worldwide. The company operates 7 manufacturing facilities in India, 2 of which have been successfully approved by the US FDA. The company's R&D center has a team of over 750 scientists.
NECESSITY OF BUYBACK By Ajanta Pharma
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
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: ajantapharma.buyback2022@linkintime.co.in
Website: https://linkintime.co.in/
Ajanta Pharma Buyback Registrar
Ajanta Pharma Limited
‘Ajanta House’, 98 Govt Industrial Area, Chark
Kandivli (West),
Mumbai - 400 067, Maharashtra, India
Phone: +91 22 6606 1000
Email: investorgrievance@ajantapharma.com
Website: http://www.ajantapharma.com/
Ajanta Pharma Buyback 2022 FAQs:
When is Ajanta Pharma Record Date?
Ajanta Pharma buyback 2022 record date is Jan 14, 2021.
What is the Ajanta Pharma Buyback Opening Date?
Ajanta Pharma buyback 2022 Opening date is Feb 3, 2022.
What is the Ajanta Pharma Buyback Closing Date?
Ajanta Pharma buyback 2022 Closing date is Feb 16, 2022.
When is Ajanta Pharma Buyback Announcement Date?
Ajanta Pharma buyback 2022 announcement Date is Dec 30, 2021.
What is Ajanta Pharma Buyback Price?
The company has fixed the maximum price of ₹2550.
How to apply for Ajanta Pharma Buyback 2022?
As per the record date you need to have Ajanta Pharma shares in your Demat account. You can participate in buyback after having the stock in your account.
