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BSE Buyback July 2023 vs Indiamart Intermesh Buyback 2023

Comparision between BSE Buyback July 2023 and Indiamart Intermesh Buyback 2023.

Buyback Details

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

  BSE Limited Indiamart Intermesh Limited
Logo BSE Buyback July 2023 Logo Indiamart Intermesh Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At NSE BSE, NSE
Face Value ₹2 per share ₹10 per share
Buyback Price ₹1080 per share ₹4000 per share
Issue Size 34,70,370 shares 12,50,000 shares
Issue Size (Amount) ₹374.80 Crores ₹500.00 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 Shareholders7 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date.187,500.00
General Category for all other Eligible Shareholders1 Equity Shares out of every 55 Fully paid-up Equity Shares held on the Record Date.1,062,500.00
Registrar Kfin Technologies Limited Link Intime India Private Ltd
Lead Managers Nuvama Wealth Management Limited Nuvama Wealth Management 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:

  • Taking into account the operational and strategic cash requirements of the Company in the medium term (including investment in growth plans and associated capital expenditure) and cash reserves, the Company considers appropriate to return surplus funds to the shareholders in an effective and efficient manner. Further, the Buyback will promote capital efficiency and thereby increasing shareholders' value and improving return on equity.
  • The Buyback gives an option to the Eligible Shareholders (as defined below) to either (A) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (B) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.

Buyback Timetable

BSE Buyback July 2023 and Indiamart Intermesh 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. Indiamart Intermesh Buyback 2023 Buyback record date is Aug 25, 2023.

  BSE Limited Indiamart Intermesh Limited
Record Date Sep 14, 2023 Aug 25, 2023
Offer Open Date Sep 21, 2023 Aug 31, 2023
Offer Closure Date Sep 27, 2023 Sep 06, 2023
Last date for receipt of tender forms Sep 27, 2023 Sep 06, 2023
Finalisation of buyback Oct 04, 2023 Sep 12, 2023
Last Date for settlment of bids Oct 05, 2023 Sep 13, 2023
Last Date for extinguishment of shares Oct 16, 2023 Sep 25, 2023

Financial Details and Other Relevent Information

Comparison of BSE Buyback July 2023 and Indiamart Intermesh 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 Indiamart Intermesh 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
Indiamart Intermesh Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-222,948.85865.68297.62
31-Mar-233,444.631,165.93283.83
Amount in ₹ Crore
Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2023 3205.00 2612.65 2885.62
Jun-2023 5965.00 2783.55 4774.53
May-2023 6101.00 5331.70 5736.02
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 3335.55 2611.40 2886.08
Jun-2023 5969.00 2781.65 4774.59
May-2023 6097.00 5327.05 5736.63

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