Freshtrop Fruits Limited Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Nov 17, 2022In this article, we will discuss about Freshtrop Fruits Limited Buyback offer, buyback price, buyback size, Freshtrop Fruits Buyback record date, company financial, Freshtrop buyback necessity and its impact on company.
To track the real time share price of this Buyback, click on this link – Freshtrop Fruits Share Price
Freshtrop Fruits Limited Buyback Details
| Buyback Type | Open Market |
| Opening Date | February 10, 2021 |
| Closing Date | [●] |
| Buyback Offer Amount | Rs.675 lakhs |
| Buyback No. of Shares | 10,00,000 |
| Face Value | Rs. 10 |
| Date of Buyback Approval | January 28, 2021 |
| Date of Public Announcement | NA |
| Buy Back Price | Rs.90/- |
| Buy Back Premium | 16.04% |
| Date of Board Meeting | January 28, 2021 |
Freshtrop Fruits Limited Buyback Opening and Closing Date
The starting and closing date of this buyback is February 10, 2021 and NA.
Freshtrop Fruits Limited Buyback Cash Offer
The Cash Offer to Buy-back up to 10,00,000 fully paid-up equity shares of the Company of face value of Rs. 10 each, representing 823% of the total number of equity shares.
Freshtrop Fruits Limited Buyback Record Date
The decided record date is February 02, 2021.
Freshtrop Fruits Limited Buyback Price
At a price of Rs.90 per Equity Share.
Freshtrop Fruits Limited Buyback Size
At a buyback price of Rs.90/- payable in cash for an aggregate consideration not exceeding Rs.675 lakhs
Freshtrop Fruits Limited Buyback Acceptance Query
You can check for Buyback Acceptance query here. Just click on the given link and it will redirect you to buyback acceptance query page.
Freshtrop Fruits Limited Buyback Acceptance Ratio
Find profit & profit percentage based on various acceptance rate, The profit is calculated based on 1000 shares.
| Acceptance Ratio | Total Shares Accepted | Buyback Price | Buyback Amount | Profit | Profit% |
| 20% | 200 | 90 | 18000 | 3470 | 4.78% |
| 40% | 400 | 90 | 36000 | 6940 | 9.55% |
| 60% | 600 | 90 | 54000 | 10410 | 14.33% |
| 80% | 800 | 90 | 72000 | 13880 | 19.11% |
| 100% | 1000 | 90 | 90000 | 17350 | 23.88% |
Profit is calculated from 2nd Feb, 2021 share price i.e. Rs.72.65 per share of Freshtrop Fruits Limited.
According to the above table, if a shareowner applies for 1000 shares of Freshtrop Fruits Limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.90 per share & receive Rs.3470 as profit amount & 4.78% profit percentage on selling these 200 shares back to the company.
Similarly, if the owner gets 60% acceptance of share from the company, the owner will sell 600 shares @ Rs.90 & receive a profit of Rs.10410 @ 14.33% profit percentage.
Freshtrop Fruits Limited Buyback Overview
The Company was incorporated in the name of Freshtrop Fruits Private Limited on September 30, 1992 in the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Thereafter a fresh certificate of incorporation consequent upon change of name on conversion of the company to public limited company in the name of the “Freshtrop Fruits Limited” was granted by ROC on September 22, 1994.
Company is presently engaged in two business segments i.e. Fresh Fruits and Processed Fruits and Vegetables. Fresh Fruits: The Company’s principal business which consists of fresh grapes, pomegranates and mangoes. Processed Fruits and Vegetables: It consists of Mango pulp, Guava pulp, Pomegranate concentrate 21 and Puree and cold processed juice.
For the financial years ended March 31, 2017, 2018 and 2019, the Company had total income of Rs.14,522.81 lacs, Rs.17,795.87 lacs and Rs.17,605.02 lacs, respectively, and profit after tax of Rs.892.59 lacs, Rs.830.41 lacs and Rs.1,374.40 lacs, respectively.
For the quarter ended June 30, 2019 the Company had total income of Rs.7,653.07 lacs and profit after tax of Rs. 867.41 lacs.
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Company Finances – Freshtrop Fruits Limited
The brief financial information of the Company as extracted from the un‐audited standalone financial statements under Ind AS for the 9 months ended December 31, 2020 and from audited financial statements for the last three years being March 31, 2020, March 31, 2019 and March 31, 2018 is provided below:
[In Rs. Lakhs]
| Particulars | 9 Months Ended, December 31, 2020 |
12 Months period ended March 31 (Audited) |
||
| 2020 | 2019 | 2018 | ||
| Total Income | 9314.23 | 16698.02 | 17605.02 | 17795.87 |
| Total Expenses (excluding finance cost, depreciation & amortization) | 8117.99 | 15438.37 | 15166.18 | 15911.35 |
| Finance Costs | 78.79 | 120.30 | 131.65 | 80.48 |
| Depreciation and amortization expenses | 394.62 | 537.55 | 517.51 | 416.10 |
| Profit before tax | 722.84 | 601.80 | 1789.68 | 1330.26 |
| Provision for tax (including Deferred Tax) |
190.24 | 139.88 | 415.28 | 499.85 |
| Profit /(Loss) after tax | 532.60 | 461.92 | 1374.40 | 830.41 |
| Equity Share Capital | 1114.50 | 1114.50 | 1214.50 | 1214.50 |
| Other Equity | 6362.47 | 5820.89 | 6428.51 | 5047.89 |
| Networth | 7476.97 | 6935.39 | 7643.01 | 6262.39 |
| Total Debt (Excluding working capital loans) | 1095.77 | 3291.99 | 3872.35 | 4148.07 |
Freshtrop Fruits Limited Buyback Dates
| Date of Board Meeting approving the Buyback | January 28, 2021 |
| Date of publication of Public Announcement for Buyback | February 1, 2021 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | February 2, 2021 |
| Buyback Opening date | February 10, 2021 |
| Buyback Closing date | – |
| Last Date of verification of Tender Forms by the Registrar | – |
| Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the Registrar | – |
| *Last date of Settlement of Bids on the BSE Limited | – |
| Last date of return of unaccepted Equity Shares by BSE Limited | – |
| Last date of Extinguishment of Equity Shares | – |
Details of Public Announcement
As per Regulation 7(i) of the Buyback Regulations, the Company has made a Public Announcement for the Buy Back of Equity Shares published on NA in the following newspapers, which is within two working days from the date of passing of the special resolution by the Shareholders of the Company on September 26, 2019.
| Publication | Language | Edition |
| Financial Express | English | All |
| Jansatta | Hindi | All |
| Financial Express | Gujarati | Ahmedabad |
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Necessity of Freshtrop Fruits Limited Buyback
The Board is of the view that having regard to the cash flows that the Company has been able to consistently generate, the future projected cash flows of the Company and the anticipated funds required for capital expenditure and working capital to meet the expected future growth of the Company, the Buyback will help the Company achieve the following objectives:
(a) Optimize returns to shareholders;
(b) Enhance overall shareholders value; and
(c) Optimize the capital structure resulting in reduction in outstanding shares, improvement in earnings per share, enhanced return on invested capital, effective utilization of available cash and improvement in key return ratios like return on net worth, return on assets etc. over a period of time.
Impact of Freshtrop Fruits Limited Buyback on the Company
The Buyback is expected to enhance overall long term members’ value for continuing members, without compromising on the future growth opportunities of the Company, as well as provide an exit opportunity to the public shareholders.
The Buyback is not likely to cause any material adverse impact on the earnings of the Company, except a reduction in the treasury income which the Company could have otherwise earned from investments. The Company will also bear the cost of the Buyback transaction.
The Buyback is proposed, considering the accumulated surplus funds available with the Company being in excess of the surplus amount needed to be retained by the Company for future growth of the Company as envisaged by the Board.
The Buyback may lead to reduction in outstanding Equity Shares, improvement in earnings per share and enhanced return on equity, assuming that the Company would earn similar profits as in the past.
Salient financial parameters pursuant to the Buy‐back based on the audited financial statements as of March 31, 2020, of the Company are as under:
| Parameters (based on audited standalone financial statements for year ended March 31, 2020) | Pre Buy-back | Post Buy-back (Assuming Full Acceptance) |
| Net worth (Rs in Lakhs) | ||
| Return on Net worth (%) | ||
| Earnings Per Share (Rs) | ||
| Book Value per Share (Rs) | ||
| P/E as per the latest audited standalone financial statements | ||
| Total Debt / Equity Ratio |
Basis of Calculating Freshtrop Fruits Limited Buyback Price
The Maximum Buyback Price of Rs.90 per Equity Share has been arrived at after considering various factors.
The Maximum Buyback Price represents a premium of 16.04% compared to the average of the weekly high and low of the closing prices of the Equity Shares on the BSE, during the two weeks preceding the date of the Board Meeting.
The Buyback is proposed to be completed within a maximum period of 6 months from the date of opening of the Buyback or such other period as may be permitted under the Companies Act and/or Buyback Regulations or as may be directed by the appropriate authorities.
Further, the Company shall utilize at least 50% of the Maximum Buyback Size i.e. Rs.337.50 lakhs towards the Buyback and the Company will accordingly purchase an indicative minimum of 3,75,000 Equity Shares (“Minimum Buyback Shares”) based on the Maximum Buyback Price.
The actual number of Equity Shares bought back will depend upon the actual price paid for the Buyback, excluding the Transaction Costs paid for the Equity Shares bought back, and the aggregate amount paid in the Buyback, subject to the Maximum Buyback Size.
The actual reduction in outstanding number of Equity Shares would depend upon the price at which the Equity Shares of the Company are traded at the Stock Exchange as well as the total number of Equity Shares bought back by the Company from the open market through the Stock Exchange during the Buyback period
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Source of Funds for the Buyback
Assuming full acceptance, the funds that would be utilized by the Company for the purpose of the Buy Back would be Rs.675 lakhs excluding the transaction cost relating to the buyback.
The funds for the implementation of the proposed Buyback will be sourced out of free reserves and securities premium of the Company and any other source as may be permitted by the Buyback Regulations or the Act. Borrowed funds from banks and financial institutions, if any, will not be used for the Buyback.
Company shall transfer from its free reserves or securities premium account, a sum equal to the nominal value of the equity shares bought back through the Buyback to the Capital Redemption Reserve account.
Freshtrop Fruits Limited – Manager to the Buyback
| Chartered Capital And Investment Limited 711, Mahakant, Opp. V S Hospital, Ellisbridge, Ahmedabad – 380006 Tel: +91‐79‐2657 7571/2657 5337, Fax: +91‐79‐2657 5731 Email: info@charteredcapital.net, Website: www.charteredcapital.net Investor Grievance Email: investor.relation@charteredcapital.net Contact Person: Mr. Manoj Kumar Ramrakhyani /Mr. Sagar Bhatt SEBI Registration No.: INM000004018, Validity: Permanent CIN: L45201GJ1986PLC008577 |
Freshtrop Fruits Limited – Registrar to the Buyback
|
Bigshare Services Private Limited
1st Floor, Bharat Tin Works Building, Opp Vasant Oasis, Makwana Road, Marol, Andheri (E), Mumbai ‐ 400059 Tel: +91‐22‐ 6263 8200; Fax: +91‐22‐ 6263 8280 Email: buybackoffer@bighsareonline.com Website:www.bigshareonline.com Contact person: Mr. Arvind Tandel; SEBI Registration Number: INR000001385 Validity Period :Permanent CIN: U99999MH1994PTC076534 |
Freshtrop Fruits Limited Contact Details
| Company Contact Details |
Freshtrop Fruits LimitedCorporate Identification No. (CIN) : L15400GJ1992PLC018365 |
Freshtrop Fruits Limited Buyback News
News 1 – Buyback PDF / Letter of Offer [Download]
News 2 – Freshtrop Fruits Limited Ltd – Public Announcement
FAQs of Freshtrop Fruits Limited Buyback
What is the Freshtrop Fruits Limited Buyback Period?
Freshtrop Fruits Limited Buyback Period is briefly the time interval starting from the date of declaration of results of the postal ballot through remote e-voting i.e. February 10, 2021. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. NA.
What type of buyback is Freshtrop Fruits Limited Buyback?
This company has chosen the route of Open Market to repurchase the shares from the eligible shareholders. Open Market route is one of the Two Routes generally chosen by the companies, i.e. Tender Offer and Open Market Through Stock Exchanges.
What is the Freshtrop Fruits Limited Buyback Offer?
Freshtrop Fruits Limited Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 10,00,000 Fully paid up Equity shares, adhering to the buyback price.
When Freshtrop Fruits Limited Buyback offer will start?
As per the released schedule, the Freshtrop Fruits Limited Buyback offer will start on February 10, 2021. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Freshtrop Fruits Limited Buyback at all times, we ensure you have access to the right data.
When is the closing date of Freshtrop Fruits Limited Buyback?
For ease in access to the dates and related aspects, we have segregated the closing date of Freshtrop Fruits Limited Buyback. The buyback would close on NA. The closing date is the last day for which the Buyback shall be open for the shareholders.
What is the offer price for Freshtrop Fruits Limited Buyback?
The amount at which the shares are taken back by the company is referred to as Freshtrop Fruits Limited Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.90, the price paid to each eligible shareholder.
What is the record date for Freshtrop Fruits Limited Buyback offer?
Record date of Freshtrop Fruits Limited Buyback is February 02, 2021. Record date is generally the day when eligible shareholders are declared. Furthermore, complying with Buyback regulations, letter of offer and Tender form is sent to the eligible shareholders.
What is the issue size of Freshtrop Fruits Limited Buyback?
Freshtrop Fruits Limited Buyback Size is Rs.675 lakhs and is the total worth of Equity Shares the company plans on taking back. This amount is obtained from the total number of equity shares, multiplied by the Buyback price.
What is the necessity for Freshtrop Fruits Limited Buyback?
Objective of the Freshtrop Fruits Limited Buyback is to enhance the total return made by equity shareholders. Herein, the excess funds are given to the equity shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans. Through buyback, the company will distribute the surplus cash to shareholders as per their holding proportion.
Who is the Registrar to Freshtrop Fruits Limited Buyback offer?
The designated registrar of Freshtrop Fruits Limited Buyback is Bigshare Services Private Limited. You can find all the details related to the registrar in this report and contact them if you have any queries. You can check the details of the registrar, contact person, email address and more.
Who is the Manager to the Freshtrop Fruits Limited Buyback offer?
Manager to the Freshtrop Fruits Limited Buyback is Chartered Capital And Investment Limited. Manager basically ensures that the company following up buyback strictly adheres to and in conformity with the provisions of the Companies Act and Buyback Regulations.
How to check Freshtrop Fruits Limited buyback acceptance ratio?
Acceptance ratio is basically the proportion of shares the company accepts, to the final number of shares tendered. It refers to how much the company would buyback and how profitable it would be for you. You can also check how much profit (%) you will earn. Click on the link and check on the website page.
Where to find Freshtrop Fruits Limited Buyback Dates / Events?
You can check the table for the list of events, as designed for the buyback. This article is your one and final destination to check all the Freshtrop Fruits Limited Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Freshtrop Fruits Limited Buyback Dates.
What can be the Impact of Freshtrop Fruits Limited Buyback on the Company?
The Buyback will not in any manner impair the ability of the Company to pursue growth opportunities or meet its cash requirements for business operations. The Buyback is expected to contribute to the overall enhancement of shareholder value and result in an increase in the return on equity of the Company. This Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding.
Where to find complete details on Freshtrop Fruits Limited Buyback?
As mentioned already, this page would give you every single detail about this buyback. Also, you find the link to download the Draft / Letter of Offer. Each and every section is vividly and carefully placed, giving you insights into all major as well as minor aspects of the ratio. The article is also inclusive of all the links.
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