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Elegant Marbles & Grani Industries Buyback 2023 vs Somany Ceramics Buyback 2023

Comparision between Elegant Marbles & Grani Industries Buyback 2023 and Somany Ceramics Buyback 2023.

Buyback Details

Elegant Marbles & Grani Industries Buyback 2023 is a Tender Offer buyback proposed to list at BSE while Somany Ceramics Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  Elegant Marbles & Grani Industries Somany Ceramics Limited
Logo Elegant Marbles & Grani Industries Buyback 2023 Logo Somany Ceramics Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE BSE, NSE
Face Value ₹10 per share ₹2 per share
Buyback Price ₹385 per share ₹850 per share
Issue Size 6,97,000 shares 14,70,588 shares
Issue Size (Amount) ₹26.83 Crores ₹125.00 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders86 Equity Shares out of every 353 Fully paid-up Equity Shares held on the Record Date.104,550.00
General Category for all other Eligible Shareholders161 Equity Shares out of every 878 Fully paid-up Equity Shares held on the Record Date.529,450.00
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 Link Intime India Private Ltd Maheshwari Datamatics Pvt. Ltd
Lead Managers Sundae Capital Advisors ICICI Securities Limited
Necessity of the buyback

The Board is of the view that the proposed Buyback will help the Company achieve the following objectives

  1. Optimize returns to shareholders;
  2. Enhance overall shareholders value and
  3. Optimizes the capital structure. The above objectives will be achieved by returning part of surplus cash to shareholders through the Buyback process. This may lead to reduction in outstanding Equity Shares, improvement in earnings per Equity Share and enhanced return on invested capital.

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

Elegant Marbles & Grani Industries 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. Elegant Marbles & Grani Industries Buyback 2023 Buyback record date is Jan 05, 2024. Somany Ceramics Buyback 2023 Buyback record date is Dec 15, 2023.

  Elegant Marbles & Grani Industries Somany Ceramics Limited
Record Date Jan 05, 2024 Dec 15, 2023
Offer Open Date Jan 11, 2024 Dec 21, 2023
Offer Closure Date Jan 17, 2024 Dec 28, 2023
Last date for receipt of tender forms Jan 19, 2024 Dec 28, 2023
Finalisation of buyback Jan 03, 2024
Last Date for settlment of bids Jan 24, 2024 Jan 04, 2024
Last Date for extinguishment of shares Feb 05, 2024 Jan 12, 2024

Financial Details and Other Relevent Information

Comparison of Elegant Marbles & Grani Industries 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.

  Elegant Marbles & Grani Industries Somany Ceramics Limited
Financial

Elegant Marbles & Grani Industries Financial Information (Restated Standalone)

Elegant Marbles & Grani Industries's revenue increased by 26.93% and profit after tax (PAT) rose by 13.02% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets
Revenue17.6937.8529.8211.95
Profit After Tax2.603.042.69-0.79
Net Worth140.82105.96105.5091.42
Reserves and Surplus137.16102.30101.8487.76
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
Nov-2023 333.80 187.00 316.33
Oct-2023 208.70 170.35 185.96
Oct-2023 186.85 160.00 172.24

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
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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