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Axita Cotton Buyback 2023 vs BSE Buyback July 2023

Comparision between Axita Cotton Buyback 2023 and BSE Buyback July 2023.

Buyback Details

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

  Axita Cotton Limited BSE Limited
Logo Axita Cotton Buyback 2023 Logo BSE Buyback July 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE, NSE NSE
Face Value ₹1 per share ₹2 per share
Buyback Price ₹56 per share ₹1080 per share
Issue Size 9,00,000 shares 34,70,370 shares
Issue Size (Amount) ₹5.04 Crores ₹374.80 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders1 Equity Shares out of every 26 Fully paid-up Equity Shares held on the Record Date.520,556.00
General Category for all other Eligible Shareholders2 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date.2,949,814.00
Registrar Skyline Financial Services Private Ltd Kfin Technologies Limited
Lead Managers Beeline Capital Advisors Pvt Ltd Nuvama Wealth Management Limited
Necessity of the buyback

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.

The proposed Buy-back will help the Company achieve the following objectives:

  1. To return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to 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 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.

Buyback Timetable

Axita Cotton Buyback 2023 and BSE Buyback July 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Axita Cotton Buyback 2023 Buyback record date is Jun 02, 2023. BSE Buyback July 2023 Buyback record date is Sep 14, 2023.

  Axita Cotton Limited BSE Limited
Record Date Jun 02, 2023 Sep 14, 2023
Offer Open Date Jun 08, 2023 Sep 21, 2023
Offer Closure Date Jun 14, 2023 Sep 27, 2023
Last date for receipt of tender forms Jun 14, 2023 Sep 27, 2023
Finalisation of buyback Jun 21, 2023 Oct 04, 2023
Last Date for settlment of bids Jun 21, 2023 Oct 05, 2023
Last Date for extinguishment of shares Jul 03, 2023 Oct 16, 2023

Financial Details and Other Relevent Information

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

  Axita Cotton Limited BSE Limited
Financial
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
BSE Buyback July 2023 Financial Information (Restated Consolidated)
Period Ended31 Mar 202031 Mar 202131 Mar 202231 Mar 2023
Assets4,475.774,627.086,185.405,993.81
Revenue630.00654.65863.53953.94
Profit After Tax120.61141.70244.93205.65
Net Worth
Reserves and Surplus2,406.392,473.642,613.132,648.25
Total Borrowing
Amount in ₹ Crore
Stock price at BSE

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
Aug-2023 1084.90 804.00 893.05
Jul-2023 814.00 611.75 733.72
Jun-2023 624.30 551.45 579.01

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