Ajanta Pharma Buyback 2023 vs Symphony Buyback

Comparision between Ajanta Pharma Buyback 2023 and Symphony Buyback.

Buyback Details

Ajanta Pharma Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while Symphony Buyback is a Tender Offer proposed to list at BSE, NSE.

Ajanta Pharma Limited

Symphony Limited

Logo

Type of Buyback

Tender Offer

Listing At

BSE, NSE

Face Value

₹2 per share

Buyback Price

₹1425 per share

₹2000 per share

Issue Size

22,10,500 shares

10,00,000 shares

Issue Size (Amount)

₹315.00 Crores

₹200.00 Crores

Buyback Ratio

Category	Entitlement Ratio of Buyback	Shares Offered
Reserved Category for Small Shareholders	20 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date.	331,575.00
General Category for all other Eligible Shareholders	3 Equity Shares out of every 202 Fully paid-up Equity Shares held on the Record Date.	1,878,925.00

Category	Entitlement Ratio of Buyback	Shares Offered
Reserved Category for Small Shareholders	9 Equity Shares out of every 92 Fully paid-up Equity Shares held on the Record Date.	150,000.00
General Category for all other Eligible Shareholders	1 Equity Shares out of every 80 Fully paid-up Equity Shares held on the Record Date.	850,000.00

Registrar

Link Intime India Private Ltd

Bigshare Services Pvt Ltd

Lead Managers

Edelweiss Financial Services Ltd

Ambit Private Limited

Necessity of the buyback

The buyback is being undertaken for the following reasons:

The buyback will help the company to return surplus cash to its equity shareholders broadly in proportion to their shareholding, thereby enhancing the overall return to shareholders.
The buyback consists of a reservation for the small shareholder. The company believes that this reservation for small shareholders would benefit a large number of public shareholders who would get classified as "small shareholders".
The buyback may help in improving return on equity, reduction in the equity base, thereby leading to a long-term increase in shareholders' value.
The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer.
The buyback may lead to a reduction in outstanding Equity Shares, an improvement in earnings per equity share, and an enhanced return on equity.

The Buyback is being undertaken for the following reasons:

The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares.
The buyback consists of a reservation for the small shareholder. The company believes that this reservation for small shareholders would benefit a large number of public shareholders who would get classified as "small shareholders".
The buyback may help in improving return on equity, reduction in the equity base, thereby leading to a long-term increase in shareholders' value.
The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer.

Buyback Timetable

Ajanta Pharma Buyback 2023 and Symphony Buyback buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Ajanta Pharma Buyback 2023 Buyback record date is Mar 24, 2023. Symphony Buyback Buyback record date is Mar 29, 2023.

	Ajanta Pharma Limited	Symphony Limited
Record Date	Mar 24, 2023	Mar 29, 2023
Offer Open Date	Mar 31, 2023	May 03, 2023
Offer Closure Date	Apr 10, 2023	May 17, 2023
Last date for receipt of tender forms	Apr 10, 2023	May 17, 2023
Finalisation of buyback	Apr 13, 2023	May 25, 2023
Last Date for settlment of bids	Apr 18, 2023	May 26, 2023
Last Date for extinguishment of shares	Apr 27, 2023	Jun 02, 2023

Financial Details and Other Relevent Information

Comparison of Ajanta Pharma Buyback 2023 and Symphony Buyback financial data. The table below also includes a list of all relevant information like Stock Market Data, Compay Information, Lead Manager and Registrar.

Ajanta Pharma Limited

Symphony Limited

Financial

Ajanta Pharma Limited Financial Information (Restated Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax
31-Mar-20		2,680.06	467.70
31-Mar-21	3,778.72	2,915.67	653.87
31-Mar-22	4,055.58	3,456.67	712.68
Amount in ₹ Crore

Symphony Limited Financial Information (Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax
31-Mar-20	1,064.00	1,157.00	182.00
31-Mar-21	1,220.00	931.00	107.00
31-Mar-22	1,367.00	1,079.00	121.00
Amount in ₹ Crore

Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Feb-2023	1252.00	4523.00	1197.49
Jan-2023	1222.90	3168.00	1186.12
Dec-2022	1272.00	1192.00	1210.90

Stock price at BSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Feb-2023	1174.85	948.00	1051.97
Jan-2023	1004.95	900.05	959.76
Dec-2022	950.35	870.00	914.00

Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Feb-2023	1254.00	1151.35	1198.12
Jan-2023	1224.00	1150.00	1186.49
Dec-2022	1266.25	1150.25	1210.19

Stock price at NSE (in preceding 3 months)

Month	High Price	Low Price	Average Price
Feb-2023	1175.00	948.00	1051.93
Jan-2023	1006.00	907.20	960.03
Dec-2022	949.00	870.00	914.21

Compare with others

Ajanta Pharma Limited	Symphony Limited
Welspun India Buyback 2023	Ashiana Housing Buyback 2023
Wipro Buyback 2023	Emami Limited Buyback 2023
Ashiana Housing Buyback 2023	Godawari Power and Ispat Buyback 2023
Emami Limited Buyback 2023	Ajanta Pharma Buyback 2023
Godawari Power and Ispat Buyback 2023	Natco Pharma Buyback 2023
Natco Pharma Buyback 2023	TeamLease Services Buyback
Symphony Buyback	VRL Logistics Buyback 2023
TeamLease Services Buyback	Sportking India Buyback 2023
VRL Logistics Buyback 2023	KDDL Buyback 2023
Sportking India Buyback 2023	Abirami Financial Services Buyback 2023

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