Mayur Uniquoters Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Nov 18, 2022In this article, they will discuss about Mayur Uniquoters Limited Buyback offer, buyback price, buyback size, Mayur Uniquoters 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 – Mayur Uniquoters Share Price
Mayur Uniquoters Limited Buyback Details
| Buyback Type | Tender Offer |
| Opening Date | DECEMBER 30, 2020 |
| Closing Date | JANUARY 12, 2021 |
| Buyback Offer Amount | Rs.30,00,00,000/- |
| Buyback No. of Shares | 7,50,000 |
| Face Value | Rs.5 |
| Date of Buyback Approval | November 10, 2020 |
| Date of Public Announcement | November 11, 2020 |
| Buy Back Price | Rs.400/- |
| Buy Back Premium | 53.93% |
| Date of Board Meeting | November 10, 2020 |
Mayur Uniquoters Buyback Opening and Closing Date
The starting and closing date of this buyback is from DECEMBER 30, 2020 to JANUARY 12, 2021.
Mayur Uniquoters Buyback Cash Offer
Cash Offer to Buy-back up to 7,50,000 fully paid-up equity shares of the Company of face value of Rs.5 each, representing 1.65% of the issued, subscribed and paid-up Equity Shares of the Company.
Mayur Uniquoters Buyback Record Date
The decided record date is NOVEMBER 25, 2020.
Mayur Uniquoters Buyback Price
At a price of Rs.400/- per Equity Share.
Mayur Uniquoters Buyback Size
At a buyback price of Rs.400/- payable in cash for an aggregate maximum amount of Rs.30,00,00,000/-.
Mayur Uniquoters 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.
Mayur Uniquoters 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 | 400 | 80000 | 21900 | 7.54% |
| 40% | 400 | 400 | 160000 | 43800 | 15.08% |
| 60% | 600 | 400 | 240000 | 65700 | 22.62% |
| 80% | 800 | 400 | 320000 | 87600 | 30.15% |
| 100% | 1000 | 400 | 400000 | 109500 | 37.69% |
Profit is calculated from Dec 21, 2020 share price i.e. Rs.290.50 per share of Mayur Uniquoters Limited.
According to the above table, if a shareowner applies for 1000 shares of Mayur Uniquoters limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.400 per share & receive Rs.21900 as profit amount & 7.54% 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.400 & receive a profit of Rs.65700 @ 22.62% profit percentage.
Mayur Uniquoters Limited Buyback Overview
The Company is engaged in the business of manufacturing of Coated Textile Fabric. The Company is the leading manufacturer of Coated Textile Fabric in India. This Company has its manufacturing units situated at village Jaitpura, Dhodsar, and Morena (India).
Knitted Fabric manufactured in Dhodsar plant is consumed largely as captive consumption. The products of the Company i.e. Coated Textile Fabric are widely used in different segments such as Footwear, Furnishings, Automotive OEM, Automotive replacement market, and Automotive Exports.
The Company is selling its products directly to OEMs and other manufacturers, wholesalers in India and is also exporting to various countries including US & UK. Company has started production of newly setup PU plant located at Morena from January 12, 2020.
PU Leather is waterproof, softer, high tensile strength, lighter than real leather, turns easily and is easy to dry clean and has high abrasion.
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Company Finances – Mayur Uniquoters Ltd
The brief audited consolidated financial information of the Company for the last three financial years are provided below:
[In Rs. Lakhs]
| Particulars | Sep 30, 2020 (Unaudited) | 12 Months period ended March 31 (Audited) |
||
| 2020 | 2020 | 2019 | 2018 | |
| Total Income | 15,717.83 | 53,554.30 | 59,489.93 | 57,687.00 |
| Total Expenses (excluding finance costs, depreciation & amortization, tax and exceptional items) | 12737.68 | 40,959.17 | 44,591.28 | 41,860.43 |
| Finance Cost | 125.33 | 166.89 | 83.66 | 135.16 |
| Depreciation | 839.71 | 1,841.99 | 1,801.84 | 1,711.36 |
| Profit before tax | 2,015.11 | 10,586.25 | 13,013.15 | 13,980.05 |
| Provision for tax (including Deferred Tax) |
492.00 | 2,521.96 | 4,296.49 | 4,570.33 |
| Profit /(Loss) after tax | 1,523.11 | 8,064.29 | 8,716.66 | 9,409.72 |
| Equity Share Capital | 2266.38 | 2266.38 | *2266.38 | 2266.38 |
| Reserve and Surplus | 57530.73 | 56,449.77 | 50,029.01 | 43,080.54 |
| Networth | 59,797.11 | 58,716.15 | 52,295.39 | 45,346.92 |
| Total Debt | 1,956.37 | 2,255.27 | 1,567.20 | 586.69 |
Mayur Uniquoters Limited Buyback Dates
| Date of Board Meeting approving the Buyback | November 10, 2020 |
| Date of publication of Public Announcement for Buyback | November 12, 2020 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | November 25, 2020 |
| Buyback Opening date | December 30, 2020 |
| Buyback Closing date | January 12, 2021 |
| Last Date of verification of Tender Forms by the Registrar | January 20, 2021 |
| Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the Registrar | January 20, 2021 |
| *Last date of Settlement of Bids on the BSE Limited | January 21, 2021 |
| Last date of return of unaccepted Equity Shares by BSE Limited | January 21, 2021 |
| *Last date of Extinguishment of Equity Shares | January 28, 2021 |
Details of Public Announcement
The Public Announcement was published on November 12, 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:
| Publication | Language | Edition |
| Business Standard | English | All Editions |
| Business Standard | Hindi | All Editions |
| Mridul Patrika | Hindi | Jaipur |
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Necessity of Mayur Uniquoters Limited Buyback
The Buyback is being undertaken by the Company to return surplus funds to the 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. This Buyback is being undertaken for the following reasons:
- The Buyback will help the Company to distribute surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders;
- The Buyback, which is being implemented through the tender offer route as prescribed under the Buyback Regulations, would involve allocation of number of Equity Shares as per their entitlement or 15% of the number of Equity Shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as ‘small shareholder’ as per Regulation 2(i)(n) of the Buyback Regulations;
- The Buyback would help in improving financial ratios like earnings per share and return on Equity, by reducing the Equity base of the Company, leading to increase in long term value for shareholders; and
- The Buyback gives the Eligible Shareholders the choice to either participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback or not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
Impact of Mayur Uniquoters Limited Buyback on the Company
The Company believes the Buyback is not likely to cause any material impact on the profitability/ earnings of the Company, except to the extent of reduction in the amount available for investment, which the Company could have otherwise deployed towards generating investment income.
Assuming there is full response to the Buyback to the extent of 100%, the funds deployed by the Company towards the Buyback would be Rs. 30,00,00,000/- (Rupees Thirty Crores Only). This shall impact the investment income that could have been earned by the Company, on account of reduced amount of funds available.
The Company believes 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.
The Buyback will not result in a change in control or otherwise affect the existing management structure of the Company.
Salient financial parameters consequent to the Buyback based on the latest audited financial statement of the Company for the half year ended March 31, 2020 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 crores) | 58,716.15 | 55,716.15 |
| Return on Net worth (%) | 13.73% | 14.47% |
| Earnings Per Share (Rs) | 17.79 | 18.09 |
| Book Value per Share (Rs) | 129.54 | 129.99 |
| Price / Earnings Ratio (P/E)** | 14.94 | 14.69 |
| Total Debt / Equity Ratio | 0.038:1 | 0.040:1 |
Basis of Calculating Mayur Uniquoters Buyback Price
The Equity Shares are proposed to be bought back at a price of Rs. 400/- (Rupees Four Hundred Only) per Equity Share.
The Buyback Price represents
(i) Premium of 53.93% and 53.76% over the volume weighted average market price of the Equity Shares on BSE and NSE, respectively, during the three months preceding 22 November 02, 2020, being the date of intimation to the Stock Exchanges for the board meeting to consider the proposal of the Buyback (“Intimation Date”),
(ii) Premium of 68.43% and 68.07% over the volume weighted average market price of the Equity Shares on BSE and NSE, respectively, during the two weeks preceding the Intimation Date,
(iii) Premium of 59.97% and 59.94% over the closing price of the Equity Share on BSE and NSE, respectively, as on the Intimation Date.
The closing market price of the Equity Shares as on the Intimation Date was Rs. 250.05/- on the BSE and Rs. 250.10/- on NSE, respectively.
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Source of Funds for the Buyback
Assuming full acceptance, the funds that would be utilised by the Company for the purpose of the Buyback would be Rs. 30,00,00,000/- (Rupees Thirty Crores Only), excluding the Transaction Cost.
The funds for the implementation of the Buyback will be sourced out of Company’s current surplus and/or current balances of cash and cash equivalents and other current investments and/ or internal accruals of the Company and forms part of the free reserves of the Company (including securities premium account) and/or such other source(s) as may be permitted by the Buyback Regulations or the Companies Act.
The Company will transfer from its free reserves or securities premium account, a sum equal to the nominal value of the Equity Shares bought back to the capital redemption reserve account, and details of such transfer shall be disclosed in its subsequent audited financial statements.
The Company confirms that the funds for Buyback will be met out of its internal accruals and not out of the funds borrowed, if any, from banks and financial institutions.
Mayur Uniquoters Limited – Manager to the Buyback
| CHARTERED CAPITAL AND INVESTMENT LIMITED 418-C, “215 ATRIUM”, Andheri Kurla Road, Andheri (East), Mumbai-400 093 Tel No.: +91 22-6692 4111/6222 Contact Person: Mr. Amitkumar Gattani Email: mumbai@charteredcapital.net website: www.charteredcapital.net SEBI Registration No.: INM000004018 Validity Period: Permanent CIN: L45201GJ1986PLC008577 |
Mayur Uniquoters Ltd – Registrar to the Buyback
|
BEETAL FINANCIAL AND COMPUTER SERVICES PRIVATE LIMITED
BEETAL HOUSE, 3rd Floor, 99 Madangir, Behind Local Shopping Centre, Near Dada Harsukh Das Mandir, New Delhi- 110 062 Tel No.: +91 11-29961281-83; Fax No.: +91 11-29961284 Contact Person: Mr. Punit Mittal Email: beetal@beetalfinancial.com website: www.beetalfinancial.com SEBI Registration No.: INR000000262 Validity Period: Permanent CIN: U67120DL1993PTC052486 |
Mayur Uniquoters Ltd Contact Details
| Company Contact Details |
| MAYUR UNIQUOTERS LIMITED Corporate Identification Number (CIN): L18101RJ1992PLC00695 2 Registered Office and Works: Village Jaitpura, Jaipur-Sikar Road, Tehsil: Chomu, District: Jaipur- 303 704, Rajasthan | Tel. No.: +91 1423-224001 Correspondence Address: 28, 4th Floor, Lakshmi Complex, M.I. Road, Jaipur – 302001, Rajasthan | Tel. No.: +91 141-2361132 Contact Person: Mr. Rahul Joshi, Company Secretary and Compliance Officer E-mail: secr@mayur.biz|Website: www.mayuruniquoters.com |
Mayur Uniquoters Limited Buyback News
News 1 – Buyback PDF / Letter of Offer [Download]
News 2 – Mayur Uniquoters Ltd – Public Announcement
FAQs of Mayur Uniquoters Buyback
What is the Mayur Uniquoters Buyback Period?
Mayur Uniquoters 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. DECEMBER 30, 2020. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. JANUARY 12, 2021.
What type of buyback is Mayur Uniquoters 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 Mayur Uniquoters Buyback Offer?
Mayur Uniquoters Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 7,50,000 Fully paid up Equity shares, adhering to the buyback price.
When Mayur Uniquoters Buyback offer will start?
As per the released schedule, the Mayur Uniquoters Buyback offer will start on DECEMBER 30, 2020. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Mayur Uniquoters Buyback at all times, we ensure you have access to the right data.
When is the closing date of Mayur Uniquoters Buyback?
For ease in access to the dates and related aspects, we have segregated the closing date of Mayur Uniquoters Buyback. The buyback would close on JANUARY 12, 2021. The closing date is the last day for which the Buyback shall be open for the shareholders.
What is the offer price for Mayur Uniquoters Buyback?
The amount at which the shares are taken back by the company is referred to as Mayur Uniquoters Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.400, the price paid to each eligible shareholder.
What is the record date for Mayur Uniquoters Buyback offer?
Record date of Mayur Uniquoters Buyback is NOVEMBER 25, 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 Mayur Uniquoters Buyback?
Mayur Uniquoters Buyback Size is Rs.30,00,00,000 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 Mayur Uniquoters Buyback?
Objective of the Mayur Uniquoters 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 Mayur Uniquoters Buyback offer?
The designated registrar of Mayur Uniquoters Buyback is BEETAL FINANCIAL AND COMPUTER 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 Mayur Uniquoters Buyback offer?
Manager to the Mayur Uniquoters 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 Mayur Uniquoters 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 Mayur Uniquoters 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 Mayur Uniquoters Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Mayur Uniquoters Buyback Dates.
What can be the Impact of Mayur Uniquoters 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 Mayur Uniquoters 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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