Welspun India Ltd will buyback nearly shares 81,70,000 Lakhs for about Rs.200 Crore. In a filing to the stock exchanges, Infobeans Technologies Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.232/- per share.
The Board of Directors of Welspun India Ltd at their meeting held on May 14, 2021, have approved buyback proposal for purchase of fully paid equity shares of Re. 1 each (“Equity Share”) by the Company at a price of Rs. 120/- (Rupees One Hundred and Twenty Only) per Equity Share payable in cash (“Buyback Price”), for an aggregate amount of Rs. 200 Crore (Rupees Two Hundred Crore Only) (“Buyback Size”) (excluding expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, advisor’s fees, public announcement publication expenses, printing, dispatch expenses, transaction costs viz. brokerage, applicable taxes such as buyback taxes, securities transaction tax, goods and service tax, stamp duty, etc.), representing 6.36% of the total paid-up equity share capital and free reserves (including securities premium) as per the latest audited standalone financial statements of the Company as on March 31, 2021
Welspun India Ltd Buyback 2021 Offer Details:
|Buyback Record Date:
||26 May 2021
|Buyback Offer Amount:
||₹ 200 Crore
|Date of Board Meeting approving the proposal:
||May 14 2021
|Date of Public Announcement:
||May 18 2021
|Buyback Offer Size:
|Buyback Number of shares:
|Maximum Buyback Price:
||₹ 120 Per Equity Share
Welspun India Ltd buyback of 81,70,000 Lakhs equity shares which is around 6.36% of all the existing number of equity shares at a price of ₹120 per equity share. The buyback offer not exceeding of ₹200 crore of total buyback offer size.
Welspun India Ltd Buyback Important Dates
In this section we have covered all important dates related to “Welspun India Ltd Buyback Date”. Dates are updated as they are announced. The most noted dates are Welspun India Ltd record date and Welspun India Ltd buyback open and close dates, which one should use to participate in buyback.
|Board Meeting for Welspun India Ltd Buyback proposal
|Welspun India Ltd Buyback Approval date
|Public Announcement of Welspun India Ltd Buyback
|Welspun India Ltd Buyback Record Date
|Welspun India Ltd Buyback opens on/Buyback Opening Date
|Welspun India Ltd Buyback closes on/Buyback Closing Date
|Cut-off date to receive completed tender forms by Registrar
|Cut-off date for verification by the Registrar
|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 exchange
|Last date to return unaccepted shares by Registrar
|Last date of extinguishment of Equity Shares
Note: If anything you want to know about the buyback offer you can refer the Welspun India Ltd buyback offer documents. Click Here
How to Participate in Welspun India Ltd buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of SIS Limited 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.
Checkout Current Welspun India Ltd Shares market price on NSE and BSE: SIS Limited
The Welspun India Ltd approved a proposal for buyback of up to 81,70,000 fully paid-up Equity Shares of the Company of face value Rs. 1 each, being 6.36% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements (“Audited Condensed Interim Financial Statements”) as on 31.03.2020, for an aggregate amount not exceeding Rs. 200 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs.120 per share via ” Tender Route”.
About Welspun India Ltd Limited :
Welspun Group is one of India’s fastest-growing global conglomerates with businesses in Line Pipes, Home Textile Products, Infrastructure, Warehousing, Steel, Oil & Gas, Advanced textiles and Flooring solutions.
Welspun India Ltd has immense global presence in over 50 countries and a strong team of over 26,000 home textile manufacturers in India spanning varied ethnicity, cultures, and geographies, they have acquired global leadership in home textile and line pipe. In order to stay prominent across all businesses, Welspun India Ltd constantly strive to provide our customers with a delightful experience through innovation and technology. From homes to highways, from hi-tech to heavy metals.
With the sole intention of keeping our consumers’ wellbeing at the core and making their lives better 24×7, we are dedicated to creating a smarter, sustainable world. We create high-end, comprehensive solutions supported by our integrated facilities and 360-degree capabilities. For over 35 years, we’ve been a global leader in home textiles. Our constant focus on innovation, branding, and sustainability is what separates us from the rest.
Welspun India Ltd success is driven by a robust team of over 20,000 people worldwide. Welspun India Ltd have a wide variety of home textile brands in India and a product portfolio in three major categories: Bed, Bath, Flooring.
NECESSITY OF BUYBACK By Welspun India Ltd
The Buyback is being undertaken by the Company after taking into account the operational and strategic cash requirements of the Company in the medium term and for returning surplus funds to the Shareholders in an effective and efficient manner. The Buyback is being undertaken for the following reasons:
(i) The Buyback will help the Company to distribute surplus cash to its Shareholders holding Equity Shares thereby enhancing the overall return for them;
(ii) The Buyback, which is being implemented through the tender offer route as prescribed under the Buyback Regulations, would involve a reservation of up to 15% of the Equity Shares, which the Company proposes to buyback, for small shareholders or the actual number of Equity Shares entitled as per the shareholding of small shareholders on the Record Date, whichever is higher. The Company believes that this reservation for small shareholders would benefit a significant number of the Company’s public shareholders, who would be classified as “Small Shareholders”;
(iii) The Buyback is generally expected to improve return on equity through distribution of cash and improve earnings per share by reduction in the equity base of the Company, thereby leading to long term increase in shareholders’ value; and
(iv) The Buyback gives an option to the Eligible Shareholders to either (A) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (B) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
Company Contact Information
6th Floor, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel,
Mumbai 400 013, India
Welspun India Ltd Buyback 2021 FAQs:
When is Welspun India Ltd Record Date?
Welspun India Ltd buyback 2021 record date is 26-May-2021.
When is Welspun India Ltd Buyback announcement Date?
Welspun India Ltd buyback 2021 announcement Date is 18-May-2021.
What is Welspun India Ltd Buyback Price?
The company has fixed the maximum price of ₹120
How to apply for Welspun India Ltd Buyback 2021?
As per the record date you need to have Welspun India Ltd shares in your demat account. You can participate in buyback after having the stock in your account.