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Gujarat Narmada Valley Fertilizers Buyback 2023 vs Somany Ceramics Buyback 2023

Comparision between Gujarat Narmada Valley Fertilizers Buyback 2023 and Somany Ceramics Buyback 2023.

Buyback Details

Gujarat Narmada Valley Fertilizers Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while Somany Ceramics Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  Gujarat Narmada Valley Fertilizers & Chemicals Limited Somany Ceramics Limited
Logo Gujarat Narmada Valley Fertilizers Buyback 2023 Logo Somany Ceramics Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE, NSE BSE, NSE
Face Value ₹10 per share ₹2 per share
Buyback Price ₹770 per share ₹850 per share
Issue Size 84,78,100 shares 14,70,588 shares
Issue Size (Amount) ₹652.81 Crores ₹125.00 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders4 Equity Shares out of every 51 Fully paid-up Equity Shares held on the Record Date.1,271,715.00
General Category for all other Eligible Shareholders3 Equity Shares out of every 58 Fully paid-up Equity Shares held on the Record Date.7,206,385.00
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders5 Equity Shares out of every 29 Fully paid-up Equity Shares held on the Record Date.220,589.00
General Category for all other Eligible Shareholders8 Equity Shares out of every 265 Fully paid-up Equity Shares held on the Record Date.1,249,999.00
Registrar Kfin Technologies Limited Maheshwari Datamatics Pvt. Ltd
Lead Managers SBI Capital Markets Limited ICICI Securities Limited
Necessity of the buyback

The company is proposing the buyback to return surplus funds to the equity shareholder/beneficial owner of the Equity Shares as on the record date (Eligible shareholder) which are over and above its ordinary capital requirement and in excess of any current investment plans, in an expedient, efficient and cost-effective manner. Additionally, the company strives to increase the Shareholder's value and the buyback would result in the following benefits amongst other things:-

  • The buyback will improve the financial ratios like Earning per share, return on capital employed, and return on equity by a reduction in the equity base of the company, thereby leading to a long-term increase in shareholder's value
  • The buyback will help in achieving an optimal capital structure.
  • The buyback will help the company distribute the surplus cash to its equity shareholders, thereby enhancing the overall return to equity shareholder.
  • The buyback which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations would involve allocation of the number of equity shares as per the right entitlement of the shareholder or 15% of the number of Equity Share to be bought back whichever is higher, reserved for small shareholders.
  • The buyback gives an option to the eligible shareholder to 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 buyback without additional investment.

The Buyback of shares by the company is proposed to reward the equity shareholders by way of returning surplus funds which is excess of the requirements for ordinary capital expenditure and current investment plan, in an expedient, effective and cost-efficient manner. Below is the broad reason of the proposed buyback.

  1. The company has no major capital expenditure/investment planned immediately. Hence surplus cash can be used to reward shareholders.
  2. The buyback will help the company to do a fair distribution of Surplus cash to its equity shareholders broadly in proportion to their shareholding, resulting in enhancing the overall return to shareholders.
  3. The buyback will help to optimize the capital structure, thereby reducing in Weighted Average Cost of Capital
  4. The buyback will help in improving the financial ratios such return of equity, return on capital employed and earnings per share
  5. The Buyback gives choice to the shareholders either to participate in the buyback and monetize their shareholding or not to participate in the buyback and get the resultant increase in their shareholdings of the company post-buyback, without additional investment.

Buyback Timetable

Gujarat Narmada Valley Fertilizers Buyback 2023 and Somany Ceramics Buyback 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Gujarat Narmada Valley Fertilizers Buyback 2023 Buyback record date is Nov 24, 2023. Somany Ceramics Buyback 2023 Buyback record date is Dec 15, 2023.

  Gujarat Narmada Valley Fertilizers & Chemicals Limited Somany Ceramics Limited
Record Date Nov 24, 2023 Dec 15, 2023
Offer Open Date Dec 01, 2023 Dec 21, 2023
Offer Closure Date Dec 07, 2023 Dec 28, 2023
Last date for receipt of tender forms Dec 07, 2023 Dec 28, 2023
Finalisation of buyback Dec 13, 2023 Jan 03, 2024
Last Date for settlment of bids Dec 14, 2023 Jan 04, 2024
Last Date for extinguishment of shares Dec 26, 2023 Jan 12, 2024

Financial Details and Other Relevent Information

Comparison of Gujarat Narmada Valley Fertilizers Buyback 2023 and Somany Ceramics Buyback 2023 financial data. The table below also includes a list of all relevant information like Stock Market Data, Compay Information, Lead Manager and Registrar.

  Gujarat Narmada Valley Fertilizers & Chemicals Limited Somany Ceramics Limited
Financial

Gujarat Narmada Valley Fertilizers & Chemicals Limited Financial Information (Restated Consolidated)

Gujarat Narmada Valley Fertilizers & Chemicals Limited's revenue increased by 19.62% and profit after tax (PAT) dropped by -13.97% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets11,695.5310,734.398,384.81
Revenue10,588.168,851.715,365.92
Profit After Tax1,471.541,710.41689.21
Net Worth
Reserves and Surplus8,949.697,834.615,912.78
Total Borrowing
Amount in ₹ Crore

Somany Ceramics Limited Financial Information (Restated Consolidated)

Somany Ceramics Limited's revenue increased by 18.27% and profit after tax (PAT) dropped by -28.37% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets2,011.111,792.291,558.60
Revenue1,247.902,493.052,107.881,663.37
Profit After Tax42.1066.9293.4260.59
Net Worth786.97726.30640.75
Reserves and Surplus886.04825.42731.95
Total Borrowing
Amount in ₹ Crore
Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Oct-2023 706.90 600.05 643.87
Aug-2023 662.00 595.25 625.26
Jul-2023 620.95 532.00 566.74

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Nov-2023 729.30 648.55 668.17
Oct-2023 727.95 650.00 690.09
Sep-2023 769.90 678.80 711.77
Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Oct-2023 707.00 601.00 644.04
Aug-2023 661.90 595.15 625.22
Jul-2023 621.00 532.00 566.81

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Nov-2023 726.00 653.00 667.91
Oct-2023 730.30 649.30 690.24
Sep-2023 761.30 682.05 712.04

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