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Elegant Marbles & Grani Industries Buyback 2023 vs Kaveri Seed Company Buyback 2024

Comparision between Elegant Marbles & Grani Industries Buyback 2023 and Kaveri Seed Company Buyback 2024.

Buyback Details

Elegant Marbles & Grani Industries Buyback 2023 is a Tender Offer buyback proposed to list at BSE while Kaveri Seed Company Buyback 2024 is a Tender Offer proposed to list at BSE, NSE.

  Elegant Marbles & Grani Industries Kaveri Seed Company Ltd
Logo Elegant Marbles & Grani Industries Buyback 2023 Logo Kaveri Seed Company Buyback 2024 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 ₹725 per share
Issue Size 6,97,000 shares 44,82,758 shares
Issue Size (Amount) ₹26.83 Crores ₹325.00 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 Shareholders116 Equity Shares out of every 459 Fully paid-up Equity Shares held on the Record Date.672,414.00
General Category for all other Eligible Shareholders46 Equity Shares out of every 643 Fully paid-up Equity Shares held on the Record Date.3,810,344.00
Registrar Link Intime India Private Ltd Bigshare Services Pvt Ltd
Lead Managers Sundae Capital Advisors Bajaj Capital 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 is being undertaken by the company after taking into account the operational and strategic cash requirement for the medium term and for returning surplus funds to the members in an effective and efficient manner. The buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares thereby, enhancing the overall return for them;
  2. The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve the allocation of a number of shares as per their entitlement or 15% of the number of shares to be bought back, whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as "Small Shareholders" as per Regulation 2(i)(n) of the SEBI Buyback Regulations
  3. The buyback will help the company to improve the return on equity through the distribution of cash and improving earnings per share by a reduction in the equity base, thereby leading to a the long-term increase in the shareholder's value.
  4. The buyback will give an option to the members holding equity shares of the company, who can choose to participate and get cash in lieu of equity shares to be accepted under the buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the buyback, without any additional investment.
  5. Optimise the capital structure.

Buyback Timetable

Elegant Marbles & Grani Industries Buyback 2023 and Kaveri Seed Company Buyback 2024 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. Kaveri Seed Company Buyback 2024 Buyback record date is Feb 23, 2024.

  Elegant Marbles & Grani Industries Kaveri Seed Company Ltd
Record Date Jan 05, 2024 Feb 23, 2024
Offer Open Date Jan 11, 2024 Feb 29, 2024
Offer Closure Date Jan 17, 2024 Mar 06, 2024
Last date for receipt of tender forms Jan 19, 2024 Mar 06, 2024
Finalisation of buyback Mar 13, 2024
Last Date for settlment of bids Jan 24, 2024 Mar 14, 2024
Last Date for extinguishment of shares Feb 05, 2024 Mar 26, 2024

Financial Details and Other Relevent Information

Comparison of Elegant Marbles & Grani Industries Buyback 2023 and Kaveri Seed Company Buyback 2024 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 Kaveri Seed Company Ltd
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

Kaveri Seed Company Ltd Financial Information (Restated Consolidated)

Kaveri Seed Company Ltd's revenue increased by 11.27% and profit after tax (PAT) rose by 26.74% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets2,051.051,880.051,961.86
Revenue1,125.261,011.261,082.05
Profit After Tax260.78205.76309.55
Net Worth1,367.281,282.071,245.38
Reserves and Surplus1,362.261,282.621,250.01
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
Jan-2024 724.45 640.00 665.00
Dec-2023 642.00 590.00 616.42
Nov-2023 640.10 581.00 606.44
Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jan-2024 724.00 640.00 667.30
Dec-2023 641.65 589.85 614.17
Nov-2023 640.00 581.20 608.40

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