Goldiam International Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Sep 02, 2023In this article, they will discuss Goldiam International Buyback offer, buyback price, buyback size, Goldiam International Buyback record date, company financial, buyback necessity, and its impact on the company.
To track the real-time share price of this Buyback, click on this link – Goldiam International Share Price
Goldiam International Buyback Details
| Buyback Type | Tender Offer |
| Opening Date | [●] |
| Closing Date | [●] |
| Buyback Offer Amount | Rs.45,60,00,000 |
| Buyback No. of Shares | 3,80,000 |
| Face Value | Rs.10 |
| Date of Buyback Approval | September 13, 2021 |
| Date of Public Announcement | October 18, 2021 |
| Buy Back Price | Rs.1200 |
| Buy Back Premium | 1.71% |
| Date of Board Meeting | September 13, 2021 |
Goldiam International Buyback Opening and Closing Date
The starting and closing date of this buyback are [●] and [●].
Goldiam International Buyback Cash Offer
The Cash Offer to Buy-back up to 3,80,000 fully paid-up equity shares of the Company of the face value of Rs.10 each, representing 1.71% of the total number of equity shares.
Goldiam International Buyback Record Date
The decided record date of this buyback is October 27, 2021.
Goldiam International Buyback Price
At a price of Rs.1200 per Equity Share.
Goldiam International Buyback Size
At a buyback price of Rs.1200/- payable in cash for an aggregate consideration not exceeding Rs.45,60,00,000/-.
Goldiam International Buyback Acceptance Query
You can check for the Buyback Acceptance query here. Just click on the given link and it will redirect you to the buyback acceptance query page.
Goldiam International Buyback Acceptance Ratio
Find profit & profit percentage based on various acceptance rates, The profit is calculated based on 1000 shares.
| Acceptance Ratio | Total Shares Accepted | Buyback Price | Buyback Amount | Profit | Profit% |
| 20% | 200 | 1200 | 240000 | 52800 | 5.64% |
| 40% | 400 | 1200 | 480000 | 105600 | 11.28% |
| 60% | 600 | 1200 | 720000 | 158400 | 16.92% |
| 80% | 800 | 1200 | 960000 | 211200 | 22.56% |
| 100% | 1000 | 1200 | 1200000 | 264000 | 28.21% |
Profit is calculated from 21 October 2021 share price i.e. Rs.936 per share of Goldiam International.
According to the above table, if a shareowner applies for 1000 shares of Goldiam International & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.1200 per share & receive Rs.52800 as profit amount & 5.64% 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.1200 & receive a profit of Rs.158400 @ 16.92% profit percentage.
Goldiam International Buyback Overview
The Company was incorporated as ‘Goldiam (International) Private Limited’ on October 10, 1986, under the Companies Act, 1956. Subsequently, the name of the Company was changed to ‘Goldiam International Private Limited’ on November 27, 1986. The company converted to a public limited company and the name of the Company was further changed to ‘Goldiam International Limited’ on September 20, 1994.
The Company is a 3‐decade old exporter of exquisitely designed and luxurious diamond jewellery.
Functioning as the manufacturer of choice to many of the leading global branded retailers, departmental stores, and wholesalers across American and European markets, the Company is also renowned for utilizing responsibly sourced diamonds, leveraging cutting-edge technologies and efficient manufacturing processes for optimal costings and short delivery lead times.
Targeting the mid‐to‐affordable diamond & bridal jewellery segments, Company has a dedicated sales office in New York, with design teams in both India and the USA.
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Company Finances – Goldiam International
The salient financial information of the Company as extracted from the audited financial statements for the last three years being March 31, 2021, March 31, 2020, and March 31, 2019, and financial results subjected to Limited Review of Statutory Auditor, for three months ended June 30, 2021, are as under:
[In Rs. Lakh]
| Particulars | June 30, 2021 | 12 Months period ended March 31 | ||
| 2021 | 2020 | 2019 | ||
| Total Income | 8,477.97 | 23,359.22 | 17,280.66 | 18,064.18 |
| Total Expenses (excluding finance cost, depreciation & amortization) | 6,617.94 | 18,957.58 | 14,520.45 | 14,962.93 |
| Interest | 4.22 | 15.21 | 11.71 | 110.21 |
| Depreciation and amortization expenses | 54.68 | 183.72 | 195.3 | 197.62 |
| Profit before tax | 1,801.13 | 4,202.71 | 2,553.20 | 2,793.42 |
| Provision for tax (including Deferred Tax) |
332.70 | 1,151.35 | 648.99 | 835.51 |
| Profit /(Loss) after tax | 1,468.43 | 3,051.36 | 1,904.21 | 1,957.91 |
| Equity Share Capital | 2,217.49 | 2,217.49 | *2,217.49 | 2,296.60 |
| Other Equity | 24,059.57 | 22,318.57 | 19,910.03 | 20,675.19 |
| Total Equity | 26,277.06 | 24,536.06 | 22,127.52 | 22,971.79 |
| Total Debt | 2,300.00 | 1,000.00 | 378.33 | 691.55 |
Goldiam International Ltd Buyback Dates
| Date of Board Meeting approving the Buyback | September 13, 2021 |
| Date of publication of Public Announcement for Buyback | October 18, 2021 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | October 27, 2021 |
| Buyback Opening date | [●] |
| Buyback Closing date | [●] |
| Last date of receipt of the completed tender form and other specified documents | [●] |
| 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
The Public Announcement dated October 14, 2021, was published in the following newspapers, in accordance with Regulation 7 of the Buyback Regulations on October 18, 2021, which is within 2 (two) working days from the date of declaration of results of the postal ballot for special resolution i.e., October 13, 2021
| Publication | Language | Edition |
| Financial Express | English | All editions |
| Financial Express | Gujarati | Ahmedabad Edition |
| Jansatta | Hindi | All editions |
| Mumbai Lakshadeep | Marathi | Mumbai edition |
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Necessity of Goldiam International Buyback
Buyback is being undertaken by the Company to return surplus funds to its equity shareholders which are over and above its ordinary capital requirements and in excess of any current investment plans, in an expedient, effective, and cost-efficient manner. The Buyback is undertaken for the following reasons:
i. The Company believes that the strong future and outlook of its business activities are not accurately reflected in the prevailing market price, thereby giving an opportunity for Buyback to create long-term value for its shareholders.
ii. The Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the Company; and thereby, enhancing the overall return to shareholders.
iii. The Buyback gives the Eligible equity shareholders the choice to either (A) participate in the Buyback and receive cash in lieu of Equity Shares accepted under the Buyback or (B) not to participate in the Buyback and enjoy a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
Impact of Goldiam International Buyback on the Company
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.
The Buyback will not result in any benefit to Promoters and Promoter Group or any Directors of the Company except to the extent of the cash consideration received by them from the Company pursuant to their respective participation in the Buyback in their capacity as equity shareholders of the Company.
The debt-equity ratio after the completion of the Buyback will be within the permissible limit of 2:1 prescribed by the Companies Act, even if the response to the Buyback is to the extent of 100% (full acceptance).
Salient financial parameters consequent to the Buyback based on audited standalone and consolidated financial statements for the financial year ended March 31, 2021, are as under:
| Parameter (based on Audited Condensed Financial Statements as at and for the period ended March 31, 2021 | Pre Buy-back | Post-Buy-back (Assuming Full Acceptance) |
| Net worth (Rs in Lakhs) | 23,570.57 | 19,010.57 |
| Return on Net worth (%) | 16.33 | 20.25 |
| Earnings Per Share (Rs) | 13.76 | 14.00 |
| Book Value per Share (Rs) | 106.29 | 87.22 |
| P/E as per the latest audited standalone financial statements (BSE) | 53.24 | 52.33 |
| Total Debt / Equity Ratio | 0.04 | 0.05 |
Basis of Calculating Goldiam International Buyback Price
The Equity Shares of the Company are proposed to be bought back at a price of Rs 1,200/- (Rupees One Thousand Two Hundred Only) per share (“Offer Price”). The Buyback Price has been arrived at after considering various factors including, but not limited to the trends in the volume-weighted average market prices of the Equity Shares on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) i.e. the stock exchanges where the Equity Shares are listed, the net worth of the Company, price-earnings ratio, impact on other financial parameters and the possible impact of Buyback on the earnings per share.
The Buyback Offer Price represents:
i. Premium of 109.93% & 109.02% over the volume-weighted average market price of the Equity Shares of NSE and BSE, respectively, during the three months preceding August 30, 2021, being the date of intimation to Stock Exchange for the Board Meeting to consider the proposal of the Buyback
ii. Premium of 76.55% and 76.91% over the closing price of the Equity Share on NSE and BSE, respectively, as on August 27, 2021, being the last trading date prior to the Company’s intimation to the Stock Exchanges of the date of the Meeting of the Board of Directors wherein proposal of the Buyback was considered.
iii. The Company confirms that as required under Section 68(2)(d) of the Act, the ratio of the aggregate of secured and unsecured debts owed by the Company the paid-up Equity Share capital and free reserves after the Buyback shall be less than or equal to 2:1 based on last audited standalone and consolidated financial statements of the Company.
iv. For trends in the market price of the Equity Shares, please refer to paragraph 16 (Stock Market Data) of this Draft Letter of Offer.
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Source of Funds for the Buyback
The funds for the implementation of the proposed Buyback will be sourced out of the free reserves of the Company (including securities premium account) or such other source as may be permitted by the SEBI Buyback Regulations or the Companies Act and no funds will be borrowed from Banks and Financial Institutions for the Buyback.
The Company shall transfer from its free reserves, a sum equal to the nominal value of the Equity shares so bought back to the Capital Redemption Reserve Account and details of such transfer shall be disclosed in its subsequent audited financial statements.
The funds borrowed, if any, from banks and financial institutions will not be used for purpose of the Buyback.
Goldiam International – Manager to the Buyback
| Buyback Manager Details |
| Keynote Financial Services Limited The Ruby, 9thFloor, Senapati Bapat Marg, Dadar (West), Mumbai – 400028 Tel: +91 22 6826 6000-3 E-mail: mbd@keynoteindia.net Website: www.keynoteindia.net ContactPerson: Shashank Pisat SEBI Registration No.: INM 000003606 |
Goldiam International – Registrar to the Buyback
| Registrar Details |
| Link Intime India Private Limited C101. 247 Park, LBS Marg, Vikhroli (West), Mumbai- 400 083 Tel No: +91 22 4918 6200; Fax: +91 22 49186195 Email Id: goldiam.buyback2021@linkintime.co.in Website: www.linkintime.co.in Contact Person: Sumeet Deshpande SEBI Registration No.: INR000004058 |
Goldiam International Contact Details
| Company Contact Details |
| GOLDIAM INTERNATIONAL LIMITED Registered office: Gems & Jewellery Complex, MIDC, SEEPZ, Andheri (East), Mumbai – 400 096 Tele. No. 022 -28291893/ 28290396/ 28292397; Fax : 022-28292885; Website: www.goldiam.com Email: investorrelations@goldiam.com; Company Secretary & Compliance Officer: Pankaj Parkhiya |
Goldiam International Buyback News
News 1 – Goldiam International Buyback PDF / Letter of Offer [Download]
News 2 – Goldiam International Ltd – Draft Letter of Offer [Download]
FAQs of Goldiam International Buyback
What is the Goldiam International Buyback Period?
Goldiam International 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. October 13, 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 Goldiam International Buyback?
This company has chosen the route of Tender offer to repurchase the shares from the eligible shareholders. The 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 Goldiam International Buyback Offer?
Goldiam International Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buy back 3,80,000 Fully paid up Equity shares, adhering to the buyback price.
When Goldiam International Buyback offer will start?
As per the released schedule, the Goldiam International Buyback offer will start on NA. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Goldiam International Buyback at all times, they ensure you have access to the right data.
When is the closing date of Goldiam International Buyback?
For ease in access to the dates and related aspects, they have segregated the closing date of Goldiam International 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 Goldiam International Buyback?
The amount at which the shares are taken back by the company is referred to as the Goldiam International Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.1200, the price paid to each eligible shareholder.
What is the record date for Goldiam International Buyback offer?
The record date of Goldiam International Buyback is October 27, 2021. The record date is generally the day when eligible shareholders are declared. Furthermore, complying with Buyback regulations, the letter of offer and Tender form is sent to the eligible shareholders.
What is the issue size of Goldiam International Buyback?
Goldiam International Buyback Size is Rs.45,60,00,000 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 Goldiam International Buyback?
The objective of the Goldiam International 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 Goldiam International Buyback offer?
The designated registrar of Goldiam International Buyback is LINK INTIME INDIA 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 of the Goldiam International Buyback offer?
Manager to the Goldiam International Buyback is Keynote Financial Services Limited. The 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 Goldiam International buyback acceptance ratio?
The 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 buy back 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 Goldiam International 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 Goldiam International Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Goldiam International Buyback Dates.
What can be the Impact of Goldiam International 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. 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 Goldiam International 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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