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Goldiam International Buyback 2023 vs Piramal Enterprises Buyback 2023

Comparision between Goldiam International Buyback 2023 and Piramal Enterprises Buyback 2023.

Buyback Details

Goldiam International Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while Piramal Enterprises Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  Goldiam International Limited Piramal Enterprises Limited
Logo Goldiam International Buyback 2023 Logo Piramal Enterprises Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE, NSE BSE, NSE
Face Value ₹2 per share ₹2 per share
Buyback Price ₹150 per share ₹1250 per share
Issue Size 21,79,493 shares 1,40,00,000 shares
Issue Size (Amount) ₹32.69 Crores ₹1,750.00 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders17 Equity Shares out of every 584 Fully paid-up Equity Shares held on the Record Date.326,924.00
General Category for all other Eligible Shareholders5 Equity Shares out of every 264 Fully paid-up Equity Shares held on the Record Date.1,852,569.00
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders7 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date.2,100,000.00
General Category for all other Eligible Shareholders1 Equity Shares out of every 19 Fully paid-up Equity Shares held on the Record Date.11,900,000.00
Registrar Link Intime India Private Ltd Link Intime India Private Ltd
Lead Managers Keynote Financial Services Ltd Jm Financial Limited
Necessity of the buyback

The Buyback is undertaken for the following reasons:

  1. The Company believes that the strong future and outlook of its business activities is not accurately reflected in the prevailing market price, thereby giving an opportunity for Buyback to create long-term value for its shareholders.
  2. The Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the Company; thereby, enhancing the overall return to shareholders.
  3. The Buyback gives the Eligible equity shareholders the choice to either (A) participate in the Buyback and receive cash in lieu of Equity Shares accepted under the Buyback or (B) not to participate in the Buyback and enjoy a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.

The Buy Back is being proposed by the Company to fulfill the following objectives:

  1. The Buyback will help the company to return surplus cash to its shareholders holding Equity Shares.
  2. The buyback will help the company improve its capital structure by optimizing debt to equity ratio. It would also help in improving financial ratios such as EOS and ROE.
  3. The Buyback gives an option to the shareholders holding Equity Shares of the company, either to sell their Equity Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
  4. The Buyback, which is being implemented through the tender offer as prescribed under the Buyback Regulations, would involve a minimum reservation of 15% for Small Shareholders and allocation of a higher number of shares as per their entitlement or 15% of the number of shares to be bought back, 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.

Buyback Timetable

Goldiam International Buyback 2023 and Piramal Enterprises Buyback 2023 buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. Goldiam International Buyback 2023 Buyback record date is Jul 21, 2023. Piramal Enterprises Buyback 2023 Buyback record date is Aug 25, 2023.

  Goldiam International Limited Piramal Enterprises Limited
Record Date Jul 21, 2023 Aug 25, 2023
Offer Open Date Jul 27, 2023 Aug 31, 2023
Offer Closure Date Aug 02, 2023 Sep 06, 2023
Last date for receipt of tender forms Aug 02, 2023 Sep 06, 2023
Finalisation of buyback Aug 08, 2023 Sep 12, 2023
Last Date for settlment of bids Aug 09, 2023 Sep 13, 2023
Last Date for extinguishment of shares Aug 22, 2023 Sep 25, 2023

Financial Details and Other Relevent Information

Comparison of Goldiam International Buyback 2023 and Piramal Enterprises 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.

  Goldiam International Limited Piramal Enterprises Limited
Financial
Goldiam International Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-21613.96413.2267.11
31-Mar-22632.47712.39105.96
Amount in ₹ Crore
Piramal Enterprises Buyback 2023 Financial Information (Restated Standalone)
Period Ended31 Mar 202231 Mar 2023
Assets33,330.7733,104.03
Revenue2,820.224,837.13
Profit After Tax997.6814,333.30
Net Worth
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
Jun-2023 135.10 128.70 131.27
May-2023 151.00 131.25 141.24
Apr-2023 149.40 131.35 139.30

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2023 1115.20 915.60 985.14
Jun-2023 976.50 765.65 837.01
May-2023 785.00 716.00 752.95
Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jun-2023 135.05 128.70 131.24
May-2023 151.05 131.05 141.22
Apr-2023 148.10 131.25 139.21

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2023 1115.40 915.30 985.18
Jun-2023 977.20 770.00 836.93
May-2023 785.00 716.00 752.86

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