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CARE Ratings Buyback vs Suraj Limited Buyback

Comparision between CARE Ratings Buyback and Suraj Limited Buyback.

Buyback Details

CARE Ratings Buyback is a Tender Offer buyback proposed to list at BSE, NSE while Suraj Limited Buyback is a Tender Offer proposed to list at BSE.

  CARE Ratings Limited Suraj Limited
Logo CARE Ratings Buyback Logo Suraj Limited Buyback Logo
Type of Buyback Tender Offer Tender Offer
Listing At BSE, NSE BSE
Face Value ₹10 per share ₹10 per share
Buyback Price ₹515 per share ₹77 per share
Issue Size 23,68,000 shares 9,00,000 shares
Issue Size (Amount) ₹121.95 Crores ₹6.93 Crores
Buyback Ratio
Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 60 Equity Share out of every 539 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 69 Equity Shares out of every 907 Fully paid-up Equity Shares held on the Record Date.
Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 184 Equity Share out of every 813 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 37 Equity Shares out of every 663 Fully paid-up Equity Shares held on the Record Date.
Registrar Kfin Technologies Limited Bigshare Services Pvt Ltd
Lead Managers Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Beeline Capital Advisors Pvt Ltd
Necessity of the buyback

The Buyback is being undertaken for the following reasons:

(i) optimising returns to shareholders;

(ii) enhancing overall shareholder value.

(iii) achieving optimum capital structure.

(iv) mitigating the effects of short-term market volatility.

(v) enhancing shareholders' confidence.

The buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to distribute a part of the surplus cash to its shareholders holding Equity Shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in longer term and improving the return on equity.
  2. The Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding, thereby, enhancing the overall return to the Equity Shareholders.

Buyback Timetable

CARE Ratings Buyback and Suraj Limited Buyback buyback timetable. The investors should have the company's shares in their demat accounts as of the record date. CARE Ratings Buyback Buyback record date is Sep 14, 2022. Suraj Limited Buyback Buyback record date is Aug 20, 2022.

  CARE Ratings Limited Suraj Limited
Record Date Sep 14, 2022 Aug 20, 2022
Offer Open Date Nov 18, 2022 Sep 14, 2022
Offer Closure Date Dec 01, 2022 Sep 27, 2022
Last date for receipt of tender forms Dec 03, 2022 Sep 27, 2022
Finalisation of buyback Dec 09, 2022 Oct 06, 2022
Last Date for settlment of bids Dec 12, 2022 Oct 07, 2022
Last Date for extinguishment of shares Dec 19, 2022 Oct 14, 2022

Financial Details and Other Relevent Information

Comparison of CARE Ratings Buyback and Suraj Limited Buyback financial data. The table below also includes a list of all relevant information like Stock Market Data, Compay Information, Lead Manager and Registrar.

  CARE Ratings Limited Suraj Limited
Financial
CARE Ratings Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After Tax
31-Mar-20275.1183.48
31-Mar-21279.7490.97
31-Mar-22274.8276.83
Amount in ₹ Crore
Suraj Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After TaxNet Worth
31-Mar-20177.031.0187.77
31-Mar-21192.381.3789.14
31-Mar-22348.76392.17
Amount in ₹ Crore
Stock price at BSE

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Aug-2022 521.80 452.75 484.72
Jul-2022 492.25 410.60 440.55
Jun-2022 485.35 405.35 437.03

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jul-2022 76.45 62.05 69.25
Jun-2022 73.60 61.05 67.33
May-2022 80.00 63.30 71.65
Stock price at NSE

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Aug-2022 522.00 452.20 484.75
Jul-2022 492.00 410.15 440.83
Jun-2022 485.00 406.00 437.16

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