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BSE Buyback July 2023 vs Larsen & Toubro Buyback 2023

Comparision between BSE Buyback July 2023 and Larsen & Toubro Buyback 2023.

Buyback Details

BSE Buyback July 2023 is a Tender Offer buyback proposed to list at NSE while Larsen & Toubro Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  BSE Limited Larsen & Toubro Limited
Logo BSE Buyback July 2023 Logo Larsen & Toubro Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At NSE BSE, NSE
Face Value ₹2 per share ₹2 per share
Buyback Price ₹1080 per share ₹3200 per share
Issue Size 34,70,370 shares 3,12,50,000 shares
Issue Size (Amount) ₹374.80 Crores ₹10,000.00 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
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders9 Equity Shares out of every 38 Fully paid-up Equity Shares held on the Record Date.4,687,500.00
General Category for all other Eligible Shareholders11 Equity Shares out of every 574 Fully paid-up Equity Shares held on the Record Date.26,562,500.00
Registrar Kfin Technologies Limited Kfin Technologies Limited
Lead Managers Nuvama Wealth Management Limited Jm Financial Limited
Necessity of the buyback

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.

The Buyback is being undertaken for the following reasons:

1. The Buyback will help the Company to distribute surplus cash to its shareholders holding Equity Shares thereby enhancing the overall return for them.

2. The Buyback is generally expected to improve return on equity through the distribution of cash and improve earnings per share by a reduction in the equity base of the Company, thereby leading to a long-term increase in shareholders' value.

Buyback Timetable

BSE Buyback July 2023 and Larsen & Toubro Buyback 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. BSE Buyback July 2023 Buyback record date is Sep 14, 2023. Larsen & Toubro Buyback 2023 Buyback record date is Sep 12, 2023.

  BSE Limited Larsen & Toubro Limited
Record Date Sep 14, 2023 Sep 12, 2023
Offer Open Date Sep 21, 2023 Sep 18, 2023
Offer Closure Date Sep 27, 2023 Sep 25, 2023
Last date for receipt of tender forms Sep 27, 2023 Sep 25, 2023
Finalisation of buyback Oct 04, 2023 Sep 27, 2023
Last Date for settlment of bids Oct 05, 2023 Sep 28, 2023
Last Date for extinguishment of shares Oct 16, 2023 Oct 11, 2023

Financial Details and Other Relevent Information

Comparison of BSE Buyback July 2023 and Larsen & Toubro 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.

  BSE Limited Larsen & Toubro Limited
Financial
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
Larsen & Toubro Buyback 2023 Financial Information (Restated Standalone)
Period Ended31 Mar 202131 Mar 202231 Mar 202330 Jun 2023
Assets
Revenue90,615.77104,613.06114,535.9327,788.77
Profit After Tax3,147.317,879.457,848.971,792.36
Net Worth61,737.8267,114.0571,527.95
Reserves and Surplus
Total Borrowing
Amount in ₹ Crore
Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2023 2687.90 2419.95 2520.89
Jun-2023 2482.95 2202.20 2351.99
May-2023 2416.00 2168.65 2262.49
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

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2023 2690.00 2420.00 2520.59
Jun-2023 2483.50 2202.15 2352.20
May-2023 2416.35 2168.50 2262.64

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