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Siyaram Silk Mills Buyback 2023 vs Somany Ceramics Buyback 2023

Comparision between Siyaram Silk Mills Buyback 2023 and Somany Ceramics Buyback 2023.

Buyback Details

Siyaram Silk Mills Buyback 2023 is a Tender Offer buyback proposed to list at BSE, NSE while Somany Ceramics Buyback 2023 is a Tender Offer proposed to list at BSE, NSE.

  Siyaram Silk Mills Limited Somany Ceramics Limited
Logo Siyaram Silk Mills Buyback 2023 Logo Somany Ceramics 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 ₹720 per share ₹850 per share
Issue Size 14,99,992 shares 14,70,588 shares
Issue Size (Amount) ₹108.00 Crores ₹125.00 Crores
Buyback Ratio
CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders53 Equity Shares out of every 457 Fully paid-up Equity Shares held on the Record Date.224,999.00
General Category for all other Eligible Shareholders21 Equity Shares out of every 739 Fully paid-up Equity Shares held on the Record Date.1,274,993.00
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 Vivro Financial Services Private Limited ICICI Securities Limited
Necessity of the buyback

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

  1. The Buy Back will help the Company to return surplus cash to its 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 will help in improving financial ratios like earnings per share, return on assets, and return on equity calculated on the basis of financial statements, by reducing the equity base of the Company.
  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 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

Siyaram Silk Mills 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. Siyaram Silk Mills Buyback 2023 Buyback record date is Sep 18, 2023. Somany Ceramics Buyback 2023 Buyback record date is Dec 15, 2023.

  Siyaram Silk Mills Limited Somany Ceramics Limited
Record Date Sep 18, 2023 Dec 15, 2023
Offer Open Date Sep 25, 2023 Dec 21, 2023
Offer Closure Date Oct 03, 2023 Dec 28, 2023
Last date for receipt of tender forms Oct 03, 2023 Dec 28, 2023
Finalisation of buyback Oct 09, 2023 Jan 03, 2024
Last Date for settlment of bids Oct 10, 2023 Jan 04, 2024
Last Date for extinguishment of shares Oct 19, 2023 Jan 12, 2024

Financial Details and Other Relevent Information

Comparison of Siyaram Silk Mills 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.

  Siyaram Silk Mills Limited Somany Ceramics Limited
Financial
Siyaram Silk Mills Buyback 2023 Financial Information (Restated Consolidated)
Period Ended31 Mar 202031 Mar 202131 Mar 202231 Mar 2023
Assets1,503.231,210.491,512.901,636.73
Revenue1,733.111,130.091,939.422,272.77
Profit After Tax69.253.58216.24250.99
Net Worth
Reserves and Surplus
Total Borrowing431.83160.46253.18190.94
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
Jul-2023 575.00 534.90 553.43
Jun-2023 567.30 519.35 541.40
May-2023 584.55 486.60 529.33

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
Jul-2023 575.00 534.10 553.40
Jun-2023 567.70 519.00 541.55
May-2023 584.60 486.95 529.34

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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