Genesis Exports Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Nov 17, 2022In this article, they will discuss about Genesis Exports Limited Buyback offer, buyback price, buyback size, Genesis Exports Buyback record date, company financial, buyback necessity and its impact on company.
To track the real time share price of this Buyback, click on this link – Genesis Exports Share Price
Genesis Exports Limited Buyback Details
| Buyback Type | Tender Offer |
| Opening Date | July 28, 2020 |
| Closing Date | August 10, 2020 |
| Buyback Offer Amount | Rs.10,97,23,140 |
| Buyback No. of Shares | 179874 |
| Face Value | Rs.10 |
| Date of Buyback Approval | January 22, 2020 |
| Date of Public Announcement | June 08, 2020 |
| Buy Back Price | Rs.610 |
| Buy Back Premium | 0.09% |
| Date of Board Meeting | January 22, 2020 |
Genesis Exports Buyback Opening and Closing Date
The starting and closing date of this buyback is from July 28, 2020 to August 10, 2020.
Genesis Exports Buyback Cash Offer
Cash Offer to Buy-back up to 179874 fully paid-up equity shares of the Company of face value of Rs.10 each, representing 24.99% of the total number of equity shares.
Genesis Exports Buyback Record Date
The decided record date is 19.06.2020.
Genesis Exports Buyback Price
At a price of Rs.610 per Equity Share.
Genesis Exports Buyback Size
At a buyback price of Rs.610 payable in cash for an aggregate maximum amount of Rs.10,97,23,140.
Genesis Exports 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.
Genesis Exports 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 | 610 | 122000 | 114 | 0.02% |
| 40% | 400 | 610 | 244000 | 228 | 0.04% |
| 60% | 600 | 610 | 366000 | 342 | 0.06% |
| 80% | 800 | 610 | 488000 | 456 | 0.07% |
| 100% | 1000 | 610 | 610000 | 570 | 0.09% |
Profit is calculated from share price Rs.609.43 per share of Genesis Exports Limited.
According to the above table, if a shareowner applies for 1000 shares of Genesis Exports limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.610 per share & receive Rs.114 as profit amount & 0.02% 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.610 & receive a profit of Rs.342 @ 0.06% profit percentage.
Genesis Exports Limited Buyback Overview
The Company is engaged in the business of investments in shares and securities and generates dividend income. The Company also generates rental income. Genesis Exports Limited was incorporated under the provisions of the Companies Act, 1956 on 23.07.1981 as a Public Limited Company with the Registrar of Companies, West Bengal and also obtained Certificate of Commencement of business from the Registrar of Companies, West Bengal on 20.08.1981.
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Company Finances – Genesis Exports Limited
The brief audited consolidated financial information of the Company for the last three financial years and limited review financial information for the 9 months ended December 31, 2019 are provided below:
[In Rs. Lakhs]
| Particulars | For the period ended Dec 2019 (Unaudited) | 12 Months period ended March 31 (Audited) |
||
| 2019 | 2018 | 2017 | ||
| Total Income | 758.91 | 1036.29 | 758.42 | 879.3 |
| Total Expenses | 109.68 | 205.33 | 179.72 | 118.01 |
| Finance Cost | 0.00 | 9.00 | 0.01 | 0.01 |
| Depreciation and Amortization | 12.31 | 17.26 | 18.21 | 19.27 |
| Profit before tax | 649.22 | 830.96 | 578.70 | 761.29 |
| Profit /(Loss) after tax | 642.99 | 774.84 | 509.94 | 729.55 |
| Equity Share Capital | 71.95 | 71.95 | *71.95 | 71.95 |
| Reserves | 6978.84 | 5249.10 | 4474.26 | 3964.32 |
| Networth | 7050.79 | 5321.05 | 4546.21 | 4036.27 |
| Total Debt | 0.00 | 0.00 | *0.00 | 0.00 |
Genesis Exports Limited Buyback Dates
| Date of Board Meeting approving the Buyback | January 22, 2020 |
| Date of publication of Public Announcement for Buyback | June 08, 2020 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | June 19, 2020 |
| Buyback Opening date | July 28, 2020 |
| Buyback Closing date | August 10, 2020 |
| Last Date of verification of Tender Forms by the Registrar | August 12, 2020 |
| Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the Registrar | August 19, 2020 |
| *Last date of Settlement of Bids on the BSE Limited | August 19, 2020 |
| Last date of return of unaccepted Equity Shares by BSE Limited | August 19, 2020 |
| *Last date of Extinguishment of Equity Shares | August 26, 2020 |
Details of Public Announcement
The Public Announcement dated 04.06.2020 was published on 08.06.2020, in the following newspapers, in accordance with Regulation 7(i) of the Buyback Regulations, within two working days from the date of declaration of results of the Postal Ballot or special resolution i.e. 04.06.2020:
| Publication | Language | Edition |
| The Financial Express | English Daily | All editions |
| Jansatta | Hindi Daily | All editions |
| Sukhabar | Bengali Daily | Kolkata |
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Necessity of Genesis Exports Limited Buyback
The Company’s management strives to return surplus cash to the members holding equity shares of the Company and the Buyback would result in the following benefits, amongst other things:
- The Buyback will help the Company to return surplus cash to its members holding Equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to members.
- This Buyback, which is being implemented through the Tender Offer route as prescribed under the Buyback Regulations, would involve allocation of higher number of shares as per their entitlement or 15% of the number of shares to be bought back, reserved for the small shareholders.
- The Buyback may help in improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value;
- Optimizes the capital structure
Impact of Genesis Exports Limited Buyback on the Company
The Buyback is not likely to cause any material impact on the profitability/earnings of the Company except a reduction in the investment income, which the Company could have otherwise earned on the amount distributed towards Buyback.
This Buyback will not in any manner impair the ability of the Company in meeting to pursue growth opportunities or meet its cash requirements for business operations.
The Buyback of Equity shares of the Company will not result in a change in control or otherwise affect the existing management structure of the Company.
Consequent to the Buyback and based on the number of Equity shares bought back from the Non- resident Shareholders, Indian Financial Institutions, Mutual Funds and the Public including other bodies corporate, their shareholding would undergo a change
Salient financial parameters consequent to the Buyback based on the latest audited financial statement of the Company for 30.09.2019 are as under:
| Parameters (based on audited standalone financial statements for year ended March 31, 2019) | Pre Buy-back | Post Buy-back (Assuming Full Acceptance) |
| Net worth (Rs in Lakhs) | 6967.46 | 5870.23 |
| Return on Net worth (%) | 8.21% | 9.75% |
| Earnings Per Share Basic & Diluted (Rs) | 79.52 | 106.03 |
| Book Value per Share (Rs) | 968.36 | 1087.81 |
| Total Debt / Equity Ratio | Not Ascertainable | Not Ascertainable |
Basis of Calculating Genesis Exports Buyback Price
The Equity Shares of the Company are proposed to be bought back at the Buyback Price, i.e., Rs.610/- (Rupees Six Hundred Ten Only) per equity share.
The Buyback Price of Rs.610/- (Rupees Six Hundred Ten Only) per equity share has been arrived at after considering various factors including, but not limited to (i) Trends in the market price of the equity shares of the Company:, (ii)The closing market price of the equity shares as on date of intimation of the date of board meeting for considering the Buyback to the Stock Exchanges.
There has been no trading in the equity shares of the Company on the CSE for more than last one year, the minimum justified price for the buyback was arrived at Rs.609.43 per equity share.
Know more about other Buybacks and their Registrar details
Source of Funds for the Buyback
Assuming full acceptance, the funds that will be required by the Company for the purpose of Buyback of 179874 equity shares would be Rs. 10,97,23,140/- (Rupees Ten Crores Ninety Seven Lakhs Twenty Three Thousand One Hundred Forty Only) .
The funds for the Buyback will be sourced from cash balances available with the Company and/or liquidation of financial instruments held by the Company. These funds have been generated through internal accruals. The Company does not intend to raise debt for the explicit purposes of the Buyback. Accordingly, borrowed funds will not be used for the Buyback. However, if required, the Company may borrow funds in the ordinary course of its business.
Genesis Exports Limited – Manager to the Buyback
| VC Corporate Advisors Private Limited CIN: U67120WB2005PTC106051 SEBI REGN No.: INM000011096 Validity of Registration: Permanent (Contact Person: Ms. Urvi Belani/ Mr. Premjeet Singh) 31, Ganesh Chandra Avenue, 2nd Floor, Suite No. –2C, Kolkata-700 013, Tel. No.: 033- 2225 3940, Fax No.: 033 2225 3941, Email Id: mail@vccorporate.com Website: www.vccorporate.com |
Genesis Exports Limited – Registrar to the Buyback
|
Maheshwari Datamatics Private Limited,
CIN: U20221WB1982PTC034886 SEBI REGN No.: INR000000353 Validity of Registration: Permanent (Contact Person: Mr. S. Rajagopal) 23, R. N. Mukherjee Road, 5th Floor, Kolkata – 700 001 Tel. No.: 033 2248 2248 Fax No.: 033 2248 4787 Email Id: mdpldc@yahoo.com Website: www.mdpl.in |
Genesis Exports Limited Contact Details
| Company Contact Details |
| GENESIS EXPORTS LIMITED CIN No.: L26919WB1981PLC033906 Registered Office: “Chitrakoot” 10th Floor, 230A, A.J.C. Bose Road, Kolkata- 700 020, Tel. No. +91 7604088814/15/16/17, Fax No. +91 33 2287 0284, Website:- www.genesisexp.com, Email: genesis.exports@genesisexp.com |
Genesis Exports Limited Buyback News
News 1 – Buyback PDF / Draft Letter of Offer [Download]
News 2 – Genesis Exports Ltd – Public Announcement
FAQs of Genesis Exports Buyback
What is the Genesis Exports Buyback Period?
Genesis Exports Buyback Period is briefly the time interval starting from date of declaration of results of the postal ballot through remote e-voting i.e. June 08, 2020. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. August 19, 2020.
What type of buyback is Genesis Exports Buyback?
This company has chosen the route of Tender offer to repurchase the shares from the eligible shareholders. Tender offer 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 Genesis Exports Buyback Offer?
Genesis Exports Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 179874 Fully paid up Equity shares, adhering to the buyback price.
When Genesis Exports Buyback offer will start?
As per the released schedule, the Genesis Exports Buyback offer will start on July 28, 2020. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Genesis Exports Buyback at all times, we ensure you have access to the right data.
When is the closing date of Genesis Exports Buyback?
For the ease in access to the dates and related aspects, we have segregated the closing date of Genesis Exports Buyback. The buyback would stay open from July 28, 2020, and would close on August 10, 2020. The closing date is the last day for which the Buyback shall be open for the shareholders.
What is the offer price for Genesis Exports Buyback?
The amount at which the shares are taken back by the company is referred to as Genesis Exports Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.610, the price paid to each eligible shareholder.
What is the record date for Genesis Exports Buyback offer?
Record date of Genesis Exports Buyback is 19.06.2020. 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 Genesis Exports Buyback?
Genesis Exports Buyback Size is Rs. 10,97,23,140 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 Genesis Exports Buyback?
The Buyback will help the Company to return surplus cash to its members holding Equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to members. The Buyback may help in improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value. It also Optimizes the capital structure.
Who is the Registrar to Genesis Exports Buyback offer?
Designated registrar of Genesis Exports Buyback is Maheshwari Datamatics 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 Genesis Exports Buyback offer?
Manager to the Genesis Exports Buyback is VC Corporate Advisors Private 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 Genesis Exports 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 Genesis Exports 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 Genesis Exports Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Genesis Exports Buyback Dates.
What can be the Impact of Genesis Exports Buyback on the Company?
The Buyback is not likely to cause any material impact on the profitability/earnings of the Company except a reduction in the investment income, which the Company could have otherwise earned on the amount distributed towards Buyback.
This Buyback will not in any manner impair the ability of the Company in meeting to pursue growth opportunities or meet its cash requirements for business operations.
The Buyback of Equity shares of the Company will not result in a change in control or otherwise affect the existing management structure of the Company.
Where to find complete details on Genesis Exports Buyback?
As mentioned already, this page would give you every single detail about this buyback. Also, you find the link to download 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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