Free Account Opening + AMC Free Demat
Loading...

Rajoo Engineers Buyback 2023 vs Somany Ceramics Buyback 2023

Comparision between Rajoo Engineers Buyback 2023 and Somany Ceramics Buyback 2023.

Buyback Details

Rajoo Engineers 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.

  Rajoo Engineers Limited Somany Ceramics Limited
Logo Rajoo Engineers Buyback 2023 Logo Somany Ceramics Buyback 2023 Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE BSE, NSE
Face Value ₹1 per share ₹2 per share
Buyback Price ₹210 per share ₹850 per share
Issue Size 9,42,300 shares 14,70,588 shares
Issue Size (Amount) ₹19.79 Crores ₹125.00 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date.141,345.00
General Category for all other Eligible Shareholders2 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date.800,955.00
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 GYR Capital Advisors Private Limited ICICI Securities Limited
Necessity of the buyback

Buyback is being undertaken, inter-alia, for the following reasons:

  1. The Buyback will help the Company 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 Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve 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 may help in improving return on equity, by reducing the equity base, thereby leading to a long-term increase in shareholders' value;
  4. The Buyback gives an option to the Shareholders 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 offer, without additional investment.
  5. Optimizes the capital structure.

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

Rajoo Engineers 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. Rajoo Engineers Buyback 2023 Buyback record date is Jan 31, 2024. Somany Ceramics Buyback 2023 Buyback record date is Dec 15, 2023.

  Rajoo Engineers Limited Somany Ceramics Limited
Record Date Jan 31, 2024 Dec 15, 2023
Offer Open Date Feb 06, 2024 Dec 21, 2023
Offer Closure Date Feb 12, 2024 Dec 28, 2023
Last date for receipt of tender forms Feb 12, 2024 Dec 28, 2023
Finalisation of buyback Feb 16, 2024 Jan 03, 2024
Last Date for settlment of bids Feb 20, 2024 Jan 04, 2024
Last Date for extinguishment of shares Feb 29, 2024 Jan 12, 2024

Financial Details and Other Relevent Information

Comparison of Rajoo Engineers 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.

  Rajoo Engineers Limited Somany Ceramics Limited
Financial

Rajoo Engineers Limited Financial Information (Restated)

Rajoo Engineers Limited's revenue decreased by -7.09% and profit after tax (PAT) dropped by -32.31% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets173.85147.72146.14
Revenue86.89162.58174.99152.83
Profit After Tax7.7510.0214.8010.40
Net Worth107.09101.7593.2778.48
Total Borrowing2.511.520.283.09
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
Jan-2024 212.00 184.80 198.79
Dec-2023 234.30 173.10 204.38
Nov-2023 169.75 115.35 140.64

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

Comments

Add a public comment...