Smartlink Holdings Limited will buyback nearly 33,25,000 shares for about Rs.31.58 Crores. In a filing to the stock exchanges, Smartlink Holdings Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.95/- per share.
The board of directors of Smartlink Holdings Limited approved the proposal to buyback of not exceeding 33,25,000 Lakhs equity shares of face value of Rs 2 each of the company (representing 25% percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs.95 per equity for an aggregate consideration not exceeding Rs 31.58 crores," it said.
Smartlink Holdings Limited Buyback 2020 Offer Details:
| Buyback Type: | Tendor Offer |
| Buyback Record Date: | 1 March 2021 |
| Buyback Offer Amount: | ₹ 31.58 Crore |
| Date of Board Meeting approving the proposal: | Dec 04 2020 |
| Date of Public Announcement: | Feb 14 2021 |
| Buyback Offer Size: | 25% |
| Buyback Number of shares: | 33,25,000 |
| Price Type: | Tendor Offer |
| FV: | Rs. 2 |
| Maximum Buyback Price: | ₹ 95 Per Equity Share |
Smartlink Holdings Limited buyback of 33,25,000 equity shares which is around 25% of all the existing number of equity shares at a price of ₹95 per equity share. The buyback offer not exceeding of ₹31.58 crore of total buyback offer size.
Smartlink Holdings Limited Buyback Important Dates
In this section we have covered all important dates related to “Smartlink Holdings Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are Smartlink Holdings Limited record date and Smartlink Holdings Limited buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Smartlink Buyback proposal | 04.12.2020 |
| Smartlink Holdings Buyback Approval date | 10.02.2021 |
| Public Announcement of Smartlink Holdings Buyback | 14.02.2021 |
| Smartlink Holdings Buyback Record Date | 01.03.2021 |
| Smartlink Holdings Buyback opens on/Buyback Opening Date | 01.2021 |
| Smartlink Holdings Buyback closes on/Buyback Closing Date | 01.2021 |
| Cut-off date to receive completed tender forms by Registrar | 01.2021 |
| Cut-off date for verification by the Registrar | 01.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
01.2021 |
| Last date of settlement of bids on the stock exchange | 01.2021 |
| Last date to return unaccepted shares by Registrar | 01.2021 |
| Last date of extinguishment of Equity Shares | 01.2021 |
Note: If anything you want to know about the buyback offer you can refer the Smartlink Holdings Limited buyback offer documents. Click Here
How to Participate in Smartlink Holdings Limited buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Smartlink Holdings Limited in demat or physical form as on record date (not announced)
2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
Checkout Current Industrial And Prudential Investment Company Shares market price on NSE and BSE: NIIT
The Smartlink Holdings Limited approved a proposal for buyback of up to 33,25,000 fully paid-up Equity Shares of the Company of face value Rs. 2 each, being 25% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements ("Audited Condensed Interim Financial Statements") as on 31.03.2020, for an aggregate amount not exceeding Rs. 31.58 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs. 95 per share via " Tender Route".
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About Smartlink Holdings Limited :
Smartlink Holdings Ltd. , earlier known as Smartlink Network Systems Ltd. , is one of India’s leading IT Networking Company. It was established in the year 1993 to prop the Indian market in the field of Network Infrastructure. Pioneer in the field of Active and Passive Networking, Smartlink has a rich history of making many product brands reach the desired heights in the Indian and international markets. Smartlink now is an NBFC company , with it’s operations split into 3 wholly owned subsidiaries to have focused business approach.
NECESSITY OF BUYBACK By Smartlink Holdings Limited
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
:a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
Smartlink Systems
L-7, Verna Industrial Estate,Salcete, Goa 403722
Smartlink Holdings Limited Buyback 2021 FAQs:
When is Smartlink Holdings Limited Buyback Record Date?
Smartlink Holdings Limited buyback 2021 buyback date is 01-Mar-2021.
When is Smartlink Holdings Limited Buyback announcement Date?
Smartlink Holdings Limited buyback 2021 announcement Date is 14-Feb-2021.
What is Smartlink Holdings Limited Buyback Price?
The company has fixed the maximum price of ₹95
How to apply for Smartlink Holdings Limited Buyback 2021?
As per the record date you need to have Smartlink Holdings Limited shares in your demat account. You can participate in buyback after having the stock in your account.
