Shriram Pistons and Rings Ltd will buyback nearly 3,50,000 shares for about Rs.35.70 Crore. In a filing to the stock exchanges, Shriram Pistons and Rings Ltd said it will buyback percent of the fully paid-up equity shares at a price of Rs.1020/- per equity share.
The board of directors of Shriram Pistons and Rings Ltd approved the proposal to buyback of not exceeding 3,50,000 Lakhs equity shares of the face value of Rs.10 each of the company (representing 1.56% 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.1020/- per equity for an aggregate consideration not exceeding Rs 35.70 crores," it said.
Shriram Pistons and Rings Ltd Buyback 2021 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Aug 12, 2021 |
| Buyback Opening Date: | Sep 17, 2021 |
| Buyback Closing Date: | Sep 30, 2021 |
| Buyback Offer Amount: | ₹42.20 Crore |
| Date of Board Meeting approving the proposal: | July 30, 2021 |
| Date of Public Announcement: | Aug 03, 2021 |
| Buyback Offer Size: | 1.56% |
| Buyback Number of shares: | 3,50,000 |
| Price Type: | Tender Route |
| FV: | Rs.10 |
| Maximum Buyback Price: | ₹1020 Per Equity Share |
Details Of Shriram Pistons and Rings Ltd Buyback
The Board of Directors of the Shriram Pistons and Rings Ltd at its meeting held on July 30, 2021, has approved a proposal to buy back up to 3,50,000 Equity Shares of the Company, being 1.56% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs.35.70 Cr, for Rs.1020 per Equity Share through " Tender Route".
Shriram Pistons and Rings Ltd Buyback Important Dates
In this section, we have covered all important dates related to “Shriram Pistons and Rings Ltd Buyback Date”. Dates are updated as they are announced. The most noted dates are Shriram Pistons and Rings Ltd record date and Shriram Pistons and Rings Ltd buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Shriram Pistons and Rings Ltd Buyback proposal | 30.07.2021 |
| Shriram Pistons and Rings Ltd Buyback Approval date | 30.07.2021 |
| Public Announcement of Shriram Pistons and Rings Ltd Buyback | 03.08.2021 |
| Shriram Pistons and Rings Ltd Buyback Record Date | 12.08.2021 |
| Shriram Pistons and Rings Ltd Buyback opens on/Buyback Opening Date | 17.09.2021 |
| Shriram Pistons and Rings Ltd Buyback closes on/Buyback Closing Date | 30.09.2021 |
| Cut-off date to receive completed tender forms by Registrar | 04.10.2021 |
| Cut-off date for verification by the Registrar | 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
2021 |
| Last date of settlement of bids on the stock exchange | 2021 |
| Last date to return unaccepted shares by Registrar | 2021 |
| Last date of extinguishment of Equity Shares | 2021 |
Note: If anything you want to know about the buyback offer you can refer the GShriram Pistons and Rings Ltd buyback offer documents. Click Here
How to Participate in Shriram Pistons and Rings Ltd buyback?
- Firstly to be eligible for the buyback the investor should have shares of Shriram Pistons and Rings Ltd Buyback 2021 in Demat or physical form as on record date is 12.Aug.2021.
- 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.
- 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 Shriram Pistons and Rings Ltd Shares market price on NSE and BSE: Gandhi Special Tubes Limited
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About Shriram Pistons and Rings Ltd Limited:
Shriram Pistons and Rings Ltd is the largest exporter of Pistons and Rings from India to discerning customers, including Ford, Honda, Kia, Renault, WABCO and has the 'Trading House' status from the Government of India. Development and manufacturing of the latest technology products for OEMs in Europe, the USA, etc. challenge the enterprise to hone its manufacturing processes, technology, and quality to global standards. This acts as a catalyst to transform the entire organization. Not surprisingly, SPR and USHA are also amongst the best-recognized brand names in the aftermarket abroad.
NECESSITY OF BUYBACK By Shriram Pistons and Rings Ltd
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 a reduction in the equity base, thereby leading to a 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 place 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 per 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
Prestige Chamber, 402,3rd Floor, Grand Trunk Rd,opposite Narender Cinema,Jalandhar, Punjab 144001website: https://shrirampistons.com/
Shriram Pistons and Rings Ltd Buyback Registrar
Address: 4E/2, Alankit House,Jhandewalan Extn., New Delhi-110055Tel. no.: +91 11 4254 1234Fax no.: +91 11 2355 2001Email: rta@alankit.com, abhinavka@alankit.comContact person: Abhinav Kumar AgrawalSebi registration no.: INR000002532
Shriram Pistons and Rings Ltd Buyback 2021 FAQs:
When is Shriram Pistons and Rings Ltd Record Date?
Shriram Pistons and Rings Ltd buyback 2021 record date is 12-August-2021.
What is Shriram Pistons and Rings Ltd Buyback Opening Date?
Shriram Pistons and Rings Ltd buyback 2021 Opening date is 17-Sep-2021.
What is Shriram Pistons and Rings Ltd Buyback Closing Date?
Shriram Pistons and Rings Ltd buyback 2021 Closing date is 30-Sep-2021.
When is Shriram Pistons and Rings Ltd Buyback Announcement Date?
Shriram Pistons and Rings Ltd buyback 2021 announcement Date is 04-August-2021.
What is Shriram Pistons and Rings Ltd Buyback Price?
The company has fixed the maximum price of ₹1020
How to apply for Shriram Pistons and Rings Ltd Buyback 2021?
As per the record date you need to have Shriram Pistons and Rings Ltd shares in your Demat account. You can participate in buyback after having the stock in your account.
