Siyaram Silk Mills Limited Buyback (Siyaram Silk Mills Buyback 2023) Detail

Last date to be eligible to participate in buyback is September 15, 2023.

The Siyaram Silk Mills Buyback 2023 is a Tender Offer.

The Siyaram Silk Mills Buyback 2023 is being offered at Rs ₹720 per share per equity share.

The record date for the Siyaram Silk Mills Buyback 2023 is September 18, 2023.

The issue size of Siyaram Silk Mills Buyback 2023 is of 1,499,992 equity shares at ₹720 per share aggregating upto ₹108.00 Crores.

The Buy Back is being proposed by the Company to fulfill the following objectives:

1. The Buy Back will help the Company to return surplus cash to its shareholders.
2. The Buy Back, which is being implemented through the tender offer involving a reservation for Small Shareholders of 15%. The Company believes that this reservation of 15% for Small Shareholders would benefit a large number of public shareholders.
3. The Buy-back will help in improving financial ratios like earnings per share, return on assets, and return on equity calculated on the basis of financial statements, by reducing the equity base of the Company.
4. The Buy Back gives an option to the shareholders holding Equity Shares of the Company, to either choose to participate and get cash in lieu of Equity Shares or choose not to participate and enjoy a resultant increase in their percentage shareholding.

Letter of Offer

All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.

The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.

The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.

The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.

The Siyaram Silk Mills Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.