Sun Pharmaceutical Industries Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Nov 17, 2022In this article, they will discuss about Sun Pharmaceutical Industries Limited Buyback offer, buyback price, buyback size, Sun Pharmaceutical Industries Buyback record date, company financial, buyback necessity and its impact on company.
To track the real time price of this Buyback, Click on this link – Sun Pharmaceutical Industries Share Price
Sun Pharmaceutical Industries Limited Buyback Details
| Buyback Type | Open Market |
| Opening Date | March 26, 2020 |
| Closing Date | September 25, 2020 |
| Buyback Offer Amount | Rs.1700,00,00,000 |
| Buyback No. of Shares | 4,00,00,000 |
| Face Value | Rs.1 |
| Date of Buyback Approval | March 17, 2020 |
| Date of Public Announcement | March 19, 2020 |
| Buy Back Price | Rs.425/- |
| Buy Back Premium | 1.74% |
| Date of Board Meeting | March 17, 2020 |
Sun Pharmaceutical Industries Buyback Opening and Closing Date
The starting and closing date of this buyback is from March 26, 2020 to September 25, 2020.
Sun Pharmaceutical Industries Buyback Cash Offer
Cash Offer to Buy-back up to 4,00,00,000 fully paid-up equity shares of the Company of face value of Rs.1 each, representing 1.67% of the total number of equity shares.
Sun Pharmaceutical Industries Buyback Record Date
The decided record date is March 26, 2020.
Sun Pharmaceutical Industries Buyback Price
At a price of Rs.425 per Equity Share.
Sun Pharmaceutical Industries Buyback Size
At a buyback price of Rs.425 payable in cash for an aggregate maximum amount of Rs.1700,00,00,000.
Sun Pharmaceutical Industries 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.
Sun Pharmaceutical Industries 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 | 425 | 85000 | 13000 | 3.61% |
| 40% | 400 | 425 | 170000 | 26000 | 7.22% |
| 60% | 600 | 425 | 255000 | 39000 | 10.83% |
| 80% | 800 | 425 | 340000 | 52000 | 14.44% |
| 100% | 1000 | 425 | 425000 | 65000 | 18.06% |
Profit is calculated from March 26, 2020 share price i.e. Rs.360 per share of Sun Pharmaceutical Industries Limited.
According to the above table, if a shareowner applies for 1000 shares of Sun Pharmaceutical Industries limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.425 per share & receive Rs.13000 as profit amount & 3.61% 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.425 & receive a profit of Rs.39000 @ 10.83% profit percentage.
Sun Pharmaceutical Industries Limited Buyback Overview
The Company was initially established in the year 1982 as a partnership firm named ‘M/s. Sun Pharmaceutical Industries’ and subsequently registered and incorporated as a joint stock company (as a public limited company) on March 1, 1993, under the provisions of Part IX of the Companies Act, 1956. The Company obtained Certificate of Commencement of Business vide certificate dated March 18, 1993.
Sun Pharma is the world’s foureth largest specialty generic pharmaceutical company (Source – Evaluate Pharma) and India’s top pharmaceutical company (Source – AIOCD AWACS). A vertically integrated business and a skilled team enables it to deliver high-quality products, trusted by customers and patients in over 100 countries across the world, at affordable prices. The Company’s global footprint is spread across North America, Western Europe, Japan, Australia & New Zealand, Israel and about 80 emerging markets.
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Company Finances – Sun Pharmaceutical Industries Limited
The brief audited consolidated financial information of the Company for the last three financial years and limited review financial information for the 6 months ended September 30, 2019 are provided below:
[In Rs. crores]
| Particulars | For Six Months ended Sept 30, 2019 (Unaudited) | 12 Months period ended March 31 (Audited) |
||
| 2019 | 2018 | 2017 | ||
| Total Income | 6,959.21 | 11,574.65 | 10,134.29 | 8,308.28 |
| Total Expenses (excluding Interest, depreciation) | 4,905.00 | 8,546.95 | 8,027.99 | 7,679.23 |
| Finance Cost | 171.72 | 540.92 | 388.31 | 223.57 |
| Depreciation and Amortization | 274.72 | 552.95 | 487.24 | 422.28 |
| Profit before tax | 1,607.77 | 719.45 | 280.25 | (16.80) |
| Provision for tax (including Deferred Tax) |
21.24 | (97.15) | (25.39) | 6.04 |
| Profit /(Loss) after tax | 1,586.53 | 816.60 | 305.64 | (22.84) |
| Equity Share Capital | 239.93 | 239.93 | *239.93 | 239.93 |
| Other Equity | 23,352.61 | 22,603.68 | 22,082.68 | 20,772.54 |
| Networth | 23,592.54 | 22,843.61 | 22,322.61 | 21,012.47 |
| Total Debt | 5,773.01 | 6,436.64 | 6,884.01 | 6,046.61 |
Sun Pharmaceutical Industries Limited Buyback Dates
| Date of Board Meeting approving the Buyback | March 17, 2020 |
| Date of publication of Public Announcement for Buyback | March 19, 2020 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | [●] |
| Buyback Opening date | March 26, 2020 |
| Buyback Closing date | September 25, 2020 |
| 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
This Public Announcement (“Public Announcement”) is being made in accordance with the provisions of Regulation 16(iv)(b) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“Buy-back Regulations”) and contains the disclosures as specified in Schedule IV read with Schedule I of the Buy-back Regulations.
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Necessity of Sun Pharmaceutical Industries Limited Buyback
The Company’s management strives to increase the Equity Shareholders’ value and the Buyback would result in the following benefits, amongst other things:
a. The Buy-back will help the Company to return surplus funds to its shareholders.
b. The Buy-back is generally expected to improve return on equity through distribution of surplus fund and improve earnings per shareby reduction in the equity base, thereby leading to long term increase in shareholder’s value.
Impact of Sun Pharmaceutical Industries Limited Buyback on the Company
The Company believes that the Buy-back is not likely to cause any material impact on the profitability/ earnings of the Company.
The Buy-back of Equity Shares shall not affect the existing management structure of the Company.
The amount required by the Company for the Buy-back (including the Transaction Costs) will be met from the current balances of cash and cash equivalents and / or internal accruals of the Company and / or such other permissible source of funds.
The Company confirms that as required under Section 68(2)(d) of the Act and under Regulation 4(ii) of the Buy-back Regulations, the ratio of the aggregate of secured and unsecured debts owed by the Company post Buy-back shall not be more than twice the paid-up equity share capital and free reserves based on both audited standalone and audited consolidated financial statements 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, 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) | ||
| Return on Net worth (%) | ||
| Earnings Per Share Basic (Rs) | ||
| Earnings Per Share Diluted (Rs) | ||
| Book Value per Share (Rs) | ||
| Total Debt / Equity Ratio |
Basis of Calculating Sun Pharmaceutical Industries Buyback Price
The Equity Shares of the Company are proposed to be bought back at the Buyback Price, i.e., Rs.425/- (Indian Rupees Four Hundred Twenty Five Only) per Equity Share.
The Maximum Buy-back Price has been arrived at after considering various factors, including but not limited to, the volume weighted average market price of the Equity Shares of the Company on Stock Exchanges during 3 months and 2 weeks preceding the date of intimation (March 12, 2020) to the Stock Exchanges of the Board Meeting to consider the proposal of the Buy-back (“Prior Intimation”), closing market price on the date of Prior Intimation and the potential impact on the net worth and earning per share of the Company.
The Buyback Price represents
- Premium of 1.74% over the volume weighted average market price of the Equity Shares on NSE (the stock exchange where the maximum volume of trading in the Equity Shares is recorded) for 3 months preceding the date of the Prior Intimation which was Rs.417.75/- and
- A premium of 8.30% over the volume weighted average market price of the Equity Shares on NSE (the recognized stock exchange where the maximum volume of trading in the Equity Shares is recorded) for 2 weeks preceding the date of the Prior Intimation which was Rs.392.41/-.
The closing market price of the Equity Shares as on the date of the Prior Intimation and Board Meeting was Rs.354.80/- and Rs.370.15/- respectively on NSE. The closing market price of the Equity Shares as on the date of the Prior Intimation and Board Meeting was Rs.354.85/- and Rs.370.55/- respectively on BSE.
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Source of Funds for the Buyback
The amount required by the Company for the Buy-back (including Transaction Costs) will be met out of the balances in free reserves, current surplus and/or cash and cash equivalents and/or internal accruals and/ or liquid resources and/or such other permissible sources of funds of the Company, as per the Act and the Buy-back Regulations.
Sun Pharmaceutical Industries Limited – Manager to the Buyback
| Vivro Financial Services Private Limited 607, 608 Marathon Icon, Opp. Peninsula Corporate Park, Off Ganpatrao Kadam Marg, Veer Santaji Lane, Lower Parel, Mumbai – 400 013, Maharashtra, India. Contact Person: Mr. Harish Patel / Mr. Bhargav Parekh Email: investors@vivro.net | Website: www.vivro.net Tel: +91 22 6666 8040/41/42 | Fax: +91 22 6666 8047 SEBI Registration Number: INM000010122 | Validity: Permanent | CIN: U67120GJ1996PTC029182 |
Sun Pharmaceutical Industries Limited – Registrar to the Buyback
|
Link Intime India Private Limited
Address: C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India. Telephone: 022 – 4918 6270/022 – 4918 6200 | Website: www.linkintime.co.in Email ID: rnt.helpdesk@linkintime.co.in/ ipo.helpdesk@linkintime.co.in Contact Person: Ms. Jiny Elizabeth | SEBI Registration Number: INR000004058 | Validity: Permanent CIN: U67190MH1999PTC118368 |
Sun Pharmaceutical Industries Limited Contact Details
| Company Contact Details |
| Sun Pharmaceutical Industries Limited Corporate Identification Number: L24230GJ1993PLC019050 Registered Office: Sun Pharma Advanced Research Centre(SPARC), Tandalja, Vadodara – 390 012, Gujarat, India. Corporate Office: SUN House, CTS No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400063, Maharashtra, India. Phone: +91 22 4324 4324 |Fax: +91 22 4324 4343 | E-mail ID: secretarial@sunpharma.com| Website: www.sunpharma.com Contact Persons: Mr. Ashok I Bhuta (Compliance Officer)|Mr. Sunil Ajmera (Company Secretary & Compliance Officer) |
Sun Pharmaceutical Industries Limited Buyback News
News 1 – Buyback PDF / Draft Letter of Offer [Download]
News 2 – Sun Pharmaceutical Industries Ltd – Public Announcement
FAQs of Sun Pharmaceutical Industries Buyback
What is the Sun Pharmaceutical Industries Buyback Period?
Sun Pharmaceutical Industries 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. March 26, 2020. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. September 25, 2020.
What type of buyback is Sun Pharmaceutical Industries Buyback?
This company has chosen the route of Open Market to repurchase the shares from the eligible shareholders. Tender offer route is one of the Two Routes generally chosen by the companies, i.e.Open Market Through Stock Exchanges.
What is the Sun Pharmaceutical Industries Buyback Offer?
Sun Pharmaceutical Industries Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 4,00,00,000,Fully paid up Equity shares, adhering to the buyback price.
When Sun Pharmaceutical Industries Buyback offer will start?
As per the released schedule, the Sun Pharmaceutical Industries Buyback offer will start on March 26, 2020. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Sun Pharmaceutical Industries Buyback at all times, we ensure you have access to the right data.
When is the closing date of Sun Pharmaceutical Industries Buyback?
For ease in access to the dates and related aspects, we have segregated the closing date of Sun Pharmaceutical Industries Buyback. The buyback would close on September 25, 2020. The closing date is the last day for which the Buyback shall be open for the shareholders.
What is the offer price for Sun Pharmaceutical Industries Buyback?
The amount at which the shares are taken back by the company is referred to as Sun Pharmaceutical Industries Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.425, the price paid to each eligible shareholder.
What is the record date for Sun Pharmaceutical Industries Buyback offer?
Record date of Sun Pharmaceutical Industries Buyback is 26, 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 Sun Pharmaceutical Industries Buyback?
Sun Pharmaceutical Industries Buyback Size is Rs.1700,00,00,000 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 Sun Pharmaceutical Industries Buyback?
Objective of the Sun Pharmaceutical Industries 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 Sun Pharmaceutical Industries Buyback offer?
The designated registrar of Sun Pharmaceutical Industries 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 to the Sun Pharmaceutical Industries Buyback offer?
Manager to the Sun Pharmaceutical Industries Buyback is Vivro Financial Services 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 Sun Pharmaceutical Industries 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 Sun Pharmaceutical Industries 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 Sun Pharmaceutical Industries Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Sun Pharmaceutical Industries Buyback Dates.
What can be the Impact of Sun Pharmaceutical Industries 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 Sun Pharmaceutical Industries 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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