Aarti drugs Limited will buyback nearly 6,00,000 shares for about Rs.60 Crore. In a filing to the stock exchanges, Aarti drugs Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.1000/- per share.
The board of directors of Aarti drugs Limited approved the proposal to buyback of not exceeding 6,00,000 Lakhs equity shares of face value of Rs 10 each of the company (representing 9.82% 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.1000/- per equity for an aggregate consideration not exceeding Rs 60 crores," it said.
Aarti drugs Limited Buyback 2021 Offer Details:
| Buyback Type: | Tendor Offer |
| Buyback Record Date: | 01 April 2021 |
| Buyback Offer Amount: | ₹ 60 Crore |
| Date of Board Meeting approving the proposal: | Mar 19 2021 |
| Date of Public Announcement: | Mar 23 2021 |
| Buyback Offer Size: | 9.82% |
| Buyback Number of shares: | 60 Lakh |
| Price Type: | Tendor Offer |
| FV: | Rs. 10 |
| Maximum Buyback Price: | ₹ 1000 Per Equity Share |
Aarti drugs Limited buyback of 60 Lakhs equity shares which is around 9.82% of all the existing number of equity shares at a price of ₹1000 per equity share. The buyback offer not exceeding of ₹60 crore of total buyback offer size.
Aarti drugs Limited Buyback Important Dates
In this section we have covered all important dates related to “Aarti drugs Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are Aarti drugs Limited record date and Aarti drugs Limited buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Aarti drugs Limited Buyback proposal | 19.03.2021 |
| Aarti drugs Limited Buyback Approval date | 22.03.2021 |
| Public Announcement of Aarti drugs Limited Buyback | 22.03.2021 |
| Aarti drugs Limited Buyback Record Date | 01.04.2021 |
| Aarti drugs Limited Buyback opens on/Buyback Opening Date | 27.04.2021 |
| Aarti drugs Limited Buyback closes on/Buyback Closing Date | 10.05.2021 |
| Cut-off date to receive completed tender forms by Registrar | 12.05.2021 |
| Cut-off date for verification by the Registrar | 19.05.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
19.05.2021 |
| Last date of settlement of bids on the stock exchange | 20.05.2021 |
| Last date to return unaccepted shares by Registrar | 20.05.2021 |
| Last date of extinguishment of Equity Shares | 27.05.2021 |
Note: If anything you want to know about the buyback offer you can refer the Aarti drugs Limited buyback offer documents. Click Here
How to Participate in Aarti drugs Limited buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Aarti drugs 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 Aarti drugs Limited Shares market price on NSE and BSE: Bharat Rasayan
The Aarti drugs Limited approved a proposal for buyback of up to 6 Lakh fully paid-up Equity Shares of the Company of face value Rs. 10 each, being 9.82% 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. 60 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. 1000 per share via " Tender Route".
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About Aarti drugs Limited :
Aarti Drugs Ltd. was established in the year 1984 and forms part of $900 Million Aarti Group of Industries with robust R&D Division at Tarapur, Maharashtra Industrial Development Corporation (MIDC) in close vicinity to manufacturing locations.The Company is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, Specialty Chemicals and also produces Formulations with its wholly-owned subsidiary – Pinnacle Life Science Private Limited.
Products under APIs includes Ciprofloxacin Hydrochloride, Metronidazole, Metformin HCL, Ketoconazole, Ofloxacin etc. whereas Specialty Chemicals includes Benzene Sulphonyl Chloride, Methyl Nicotinate etc.
Over the years, the Company has been able to carve a niche for itself and is looking forward to expand the volumes. With the government initiative to encourage private health insurance schemes, consumer spending on medicines is expected to increase, which will spur growth in the generic sector in the domestic market.
The manufacturing-units of Aarti Drugs Ltd. are GMP certified. The Company is also in the process of acquiring an ISO 9002 compliance for all its units and one of the units has already been approved.
The Company aims at becoming the first choice of this expanding market through better products, ensuring quality and timely delivery.
NECESSITY OF BUYBACK By Aarti drugs 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
Aarti Drugs Ltd
Mahendra Industrial Estate, Ground Floor,
Road No 29, Plot No 109-D,
SION (East), MUMBAI- 400 022.( INDIA)
TEL: ++91 22 2401 9025 (30 LINES)
FAX: ++91 22 2407 3462 / ++91 22 2407 0144
Aarti drugs Limited Buyback 2021 FAQs:
When is Aarti drugs Limited Buyback Record Date?
Aarti drugs Limited buyback 2021 record date is 01-Apr-2021.
When is Aarti drugs Limited Buyback announcement Date?
Aarti drugs Limited buyback 2021 announcement Date is 22-Feb-2021.
What is Aarti drugs Limited Buyback Price?
The company has fixed the maximum price of ₹1000
How to apply for Aarti drugs Limited Buyback 2021?
As per the record date you need to have Aarti drugs Limited shares in your demat account. You can participate in buyback after having the stock in your account.
