Rishiroop Ltd will buyback nearly 6,40,000 shares for about Rs.8 Crore. In a filing to the stock exchanges, Rishiroop Ltd said it will buyback percent of the fully paid-up equity shares at a price of Rs.125/- per equity share.
The Board of Directors of the Company at their meeting held on August 27, 2021, have approved buyback proposal of up to 6,40,000 fully paid-up equity shares of the face value of Rs. l0/- each of the Company ("Equity Shares") representing up to 6.60 % of the total number of Equity Shares of issued and paid-up Equity Share capital of the Company at a price of rs. 125l- per Equity Share ("Buy Back Price") (including premium of Rs. I 15/- per Equity Share) payable in cash for an aggregate amount of up to Rs. 8,00,00,000/- (excluding transaction costs such as brokerage, Buyback tax, securities transaction tax, goods and service tax, stamp duty, etc.)("Buyback Size"), which is 9.67 % of the fully paid-up equity share capital and free reserves, as per the audited balance sheet of the Company as on March 31,202, on a proportionate basis through tender offer ("Tender Offer") as prescribed under Buyback Regulations, to all the equity shareholders/ beneficiary owners who hold Equity Shares on the Record Date ("Buyback"). The Buyback Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, fees, and charges payable to Stock Exchanges, public announcement expenses, printing, and dispatch expenses, and other incidental and related expenses.
Rishiroop Ltd Buyback 2021 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Sep 09, 2021 |
| Buyback Opening Date: | 2021 |
| Buyback Closing Date: | 2021 |
| Buyback Offer Amount: | ₹ 8 Crore |
| Date of Board Meeting approving the proposal: | Aug 27, 2021 |
| Date of Public Announcement: | Aug 27, 2021 |
| Buyback Offer Size: | 6.60% |
| Buyback Number of shares: | 6,40,000 |
| Price Type: | Tender Route |
| FV: | Rs.10 |
| Maximum Buyback Price: | ₹ 125 Per Equity Share |
Details Of Rishiroop Ltd Buyback
The Board of Directors of the Rishiroop Ltd at its meeting held on Aug 27, 2021, has approved a proposal to buy back up to 6,40,000 Equity Shares of the Company, being 9.67% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs.8 Cr, for Rs. 127 per Equity Share through " Tender Route".
Rishiroop Ltd Buyback Important Dates
In this section, we have covered all important dates related to “Rishiroop Ltd Buyback Date”. Dates are updated as they are announced. The most noted dates are the Rishiroop Ltd record date and Rishiroop Ltd buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Rishiroop Ltd Buyback proposal | Aug 27, 2021 |
| Rishiroop Ltd Buyback Approval date | Aug 27, 2021 |
| Public Announcement of Rishiroop Ltd Buyback | Aug 31, 2021 |
| Rishiroop Ltd Buyback Record Date | Sep 09, 2021 |
| Rishiroop LtdBuyback opens on/Buyback Opening Date | 2021 |
| Rishiroop Ltd Buyback closes on/Buyback Closing Date | 2021 |
| Cut-off date to receive completed tender forms by Registrar | 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 Rishiroop Ltd buyback offer documents. Click Here
How to Participate in Rishiroop Ltd buyback?
- Firstly to be eligible for the buyback the investor should have shares of Rishiroop Ltd Buyback 2021 in Demat or physical form as on record date 09-Sep-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 Rishiroop Ltd Shares market price on NSE and BSE: Rishiroop Ltd
Profit from the buyback on the basis of acceptance Ratio:
Buy 1600 Shares at CMP of Rs. 111 [2,00,000/125=1600)%| Acceptance Ratio | 33% | 50% | 75% | 100% |
|---|---|---|---|---|
| Amount Invested in Buyback | 177600 | 177600 | 177600 | 177600 |
| No. of Shares buyback | 528 | 800 | 1200 | 1600 |
| BuyBack Profit | 7,392 | 11,200 | 16,800 | 22,400 |
| Profit% | 4% | 6% | 9% | 13% |
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About Rishiroop Ltd Services:
Formerly known as Puneet Resins Ltd., Rishiroop Ltd. is the merged entity of Puneet Resins Ltd. and Rishiroop Rubber (International) Ltd. The company is listed on the Bombay Stock Exchange (ISIN – INE582D01013).
We were the pioneers to manufacture both Chlorinated Rubber (sold under our brand name Chlorub) and Acrylonitrile Butadiene Rubber (NBR) and Poly-vinyl Chloride (PVC) polymer blends (NBR / PVC Blends – sold under our brands Vinoprene & Vinoplast) in India and are referred to as the benchmark for quality in the industry. Our products are exported across the world and we are always interested to explore new markets.
NECESSITY OF BUYBACK By Rishiroop 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
website:-https://www.rishiroop.in/
Rishiroop Ltd Buyback Registrar
C-101, 247 Park, L.B.S. Marg, Vikhroli (W),Mumbai– 400 083Tel. No.: +91 22 49186200;Fax: +91 22 4918696195;Contact person: Sumeet Deshpande;Email: rishiroop.buyback@linkintime.co.inWebsite: www.linkintime.co.in;SEBI Registration Number: INR000004058;CIN: U67190MH1999PTC118368
Rishiroop Ltd Buyback 2021 FAQs:
When is Rishiroop Ltd Record Date?
Rishiroop Ltd buyback 2021 record date is 09 Sep 2021.
What is the Rishiroop Ltd Buyback Opening Date?
Rishiroop Ltd buyback 2021 Opening date is not announced yet.
What is the Rishiroop Ltd Buyback Closing Date?
Rishiroop Ltd buyback 2021 Closing date is not announced yet.
When is Rishiroop Ltd Buyback Announcement Date?
Rishiroop Ltd buyback 2021 announcement Date is 27-Aug-2021.
What is Rishiroop Ltd Buyback Price?
The company has fixed the maximum price of ₹125
How to apply for Rishiroop Ltd Buyback 2021?
As per the record date you need to have Rishiroop Ltd shares in your Demat account. You can participate in buyback after having the stock in your account.
