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Ashiana Housing Buyback 2023 vs Axita Cotton Buyback 2023

Comparision between Ashiana Housing Buyback 2023 and Axita Cotton Buyback 2023.

Buyback Details

Ashiana Housing Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while Axita Cotton Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  Ashiana Housing Limited Axita Cotton Limited
Logo Ashiana Housing Buyback 2023 Logo Axita Cotton Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE, NSE BSE, NSE
Face Value ₹2 per share ₹1 per share
Buyback Price ₹301 per share ₹56 per share
Issue Size 18,27,242 shares 9,00,000 shares
Issue Size (Amount) ₹55.00 Crores ₹5.04 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders19 Equity Shares out of every 277 Fully paid-up Equity Shares held on the Record Date.274,087.00
General Category for all other Eligible Shareholders20 Equity Shares out of every 1276 Fully paid-up Equity Shares held on the Record Date.1,553,155.00
Registrar Beetal Financial & Computer Services (P) Limited Skyline Financial Services Private Ltd
Lead Managers Emkay Global Financial Services Ltd Beeline Capital Advisors Pvt Ltd
Necessity of the buyback

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 may help in improving return on equity.
  4. The Buy Back will help in achieving an optimal capital structure.
  5. 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 to not participate and enjoy a resultant increase in their percentage shareholding.

The buyback is a capital allocation decision taken by the company. The buyback will help the company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in the longer term, and improving the return on equity.

Buyback Timetable

Ashiana Housing Buyback 2023 and Axita Cotton Buyback 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Ashiana Housing Buyback 2023 Buyback record date is Jul 28, 2023. Axita Cotton Buyback 2023 Buyback record date is Jun 02, 2023.

  Ashiana Housing Limited Axita Cotton Limited
Record Date Jul 28, 2023 Jun 02, 2023
Offer Open Date Aug 02, 2023 Jun 08, 2023
Offer Closure Date Aug 08, 2023 Jun 14, 2023
Last date for receipt of tender forms Aug 08, 2023 Jun 14, 2023
Finalisation of buyback Aug 11, 2023 Jun 21, 2023
Last Date for settlment of bids Aug 14, 2023 Jun 21, 2023
Last Date for extinguishment of shares Aug 22, 2023 Jul 03, 2023

Financial Details and Other Relevent Information

Comparison of Ashiana Housing Buyback 2023 and Axita Cotton 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.

  Ashiana Housing Limited Axita Cotton Limited
Financial
Ashiana Housing Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-211,339.19259.311.72
31-Mar-221,863.94233.59-7.04
Amount in ₹ Crore
Axita Cotton Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
31-Mar-21107.23618.943.7321.82
31-Mar-22109.10830.4615.4136.26
31-Mar-23557.6217.0452.37
Amount in ₹ Crore
Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jun-2023 206.80 177.00 187.48
May-2023 190.00 163.05 175.81
Apr-2023 187.40 165.15 176.20

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Apr-2023 83.00 55.96 71.62
Mar-2023 58.43 50.60 52.35
Feb-2023 69.60 50.05 61.89
Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jun-2023 207.80 175.65 187.56
May-2023 189.95 165.00 175.86
Apr-2023 187.50 165.15 176.20

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