Triveni Engineering Buyback Review, Offer Details, Price, Dates & more
Last Updated Date: Aug 30, 2023In this article, we will discuss the Triveni Engineering & Industries Limited Buyback offer, buyback price, Triveni Engineering buyback size, 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 – Triveni Engineering Share Price
Triveni Engineering Buyback Details
| Buyback Type | Tender Offer |
| Opening Date | NA |
| Closing Date | NA |
| Buyback Offer Amount | Rs. 100,00,00,000/- |
| Buyback No. of Shares | 1,00,00,000 |
| Face Value | Rs. 1/- |
| Date of Buyback Approval | June 3, 2019 |
| Date of Public Announcement | June 5, 2019 |
| Buy Back Price | Rs. 100/- |
| Buy Back Premium | 47.06% |
Triveni Engineering Buyback Opening and Closing Date
The starting and closing dates of this buyback are NA.
Triveni Engineering Buyback Cash Offer
The Cash Offer to Buy-back up to 1,00,00,000 (One Core only) fully paid-up equity shares of the Company of face value of Rs. 1 each.
Triveni Engineering Buyback Record Date
The decided record date is Wednesday, June 19, 2019.
Triveni Engineering Buyback Price
At a price of Rs. 100/- (Rupees One Hundred Only) per Equity Share.
Triveni Engineering Buyback Size
The Buyback is for an aggregate amount not exceeding Rs. 100,00,00,000 (Indian Rupees One Hundred Crore only).
Triveni Engineering & Industries 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 | 100 | 20000 | 7000 | 10.77% |
| 40% | 400 | 100 | 40000 | 14000 | 21.54% |
| 60% | 600 | 100 | 60000 | 21000 | 32.31% |
| 80% | 800 | 100 | 80000 | 28000 | 43.08% |
| 100% | 1000 | 100 | 100000 | 35000 | 53.85% |
Profit is calculated from 19th June 2019 share price i.e. Rs.65 per share of Triveni Engineering & Industries Limited.
According to the above table, if a share owner applies for 1000 shares of Triveni Engineering & Industries Limited & gets 20% acceptance from the company, the owner of this 1000 shares will sell 200 shares @ Rs.100 per share & receive Rs.7000 as profit amount & 10.77% 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.100 & receive a profit of Rs.21000 @ 32.31% profit percentage.
Triveni Engineering & Industries Limited Buyback Overview
Company’s sugar operations involve the manufacture of sugar (including refined and pharmaceutical grade sugar), generation of power (including export of power to the grid) through their bagasse-based cogeneration plants and production of Ethanol in our molasses based distilleries.
The Company has seven sugar manufacturing facilities across the state of Uttar Pradesh, Cogeneration and Incidental Cogeneration plants at five of our sugar units and two distilleries. The Company has core competencies in offering engineered-to-order products and turnkey solutions in our Gear and Water business.
Company’s Gear Business comprises engineering, design, manufacture of engineered-to-order products along with after-market services, including retrofitment whereas the offerings of Water Business include customised equipment / turnkey solutions. The manufacturing facilities for Gear Business are located in Mysuru, Karnataka, whereas the Water Business is based at Noida, with projects being executed all over India
Check other Buybacks with previous, upcoming and active status
Company Finances – Triveni Engineering & Industries Limited
The salient financial information of the Company, as extracted from the audited standalone results for the fiscal year 2017, 2018, and 2019:
(Rs in Lakhs)
| Particulars | For the year ended March 31, 2019 |
For the year ended March 31, 2018 |
March 31, 2017 |
| Audited | |||
| Total Income | 321917.83 | 343593.42 | 299724.06 |
| Total Expenses | 284249.76 | 313579.60 | 244529.28 |
| Depreciation and Amortization expense |
5695.14 | 5536.56 | 5720.99 |
| Profit/(Loss) before Tax | 27209.00 | 15943.39 | 28271.61 |
| Profit/(Loss) after Tax | 22056.35 | 10974.37 | 23356.25 |
| Equity share capital | 2579.47 | 2579.47 | 2579.47 |
| Net worth | 104046.61 | 84304.37 | 73984.48 |
| Debt | 172590.39 | 124224.97 | 173075.41 |
Triveni Engineering & Industries Limited Buyback Dates
| Date of the Board meeting held to approve the proposal for Buy-back of Equity Shares | Monday June 3, 2019 |
| Date of publication of Public Announcement for the Buy-back | Wednesday, June 5, 2019 |
| Record Date for determining the Buy-back Entitlement and the Eligible Shareholders | Wednesday, June 19, 2019 |
| Buy-back opens on / Buy-back Opening Date | – |
| Buy-back closes on / Buy-back Closing Date | – |
| Last date of verification by Registrar to Buy-back | – |
| Last date of intimation to the Stock Exchange regarding acceptance or non-acceptance of tendered Equity Shares by the Registrar and Manager to the Buy-back | – |
| *Last date of settlement of bids on the Stock Exchange | – |
| Last date of return of unaccepted demat shares by Stock Exchange to Seller Member / Broker | – |
| Last date of extinguishment of Equity Shares bought back | – |
Necessity of Triveni Engineering & 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:
- Buyback will improve the Earnings Per Share (EPS), Return on Capital Employed (ROCE) and Return on Equity (ROE);
- The Buyback will help in achieving an optimal capital structure;
- Buyback will help the Company to distribute surplus cash to the Equity Shareholders broadly in proportion to their shareholding, thereby, enhancing their overall return;
- The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve allocation of number of shares as per the entitlement of the shareholders 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 SEBI Buyback Regulations;
- Buyback gives an option to the Equity Shareholders to either choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback or choose to not participate and enjoy a resultant increase in their percentage shareholding, post Buyback, without additional investment
Find Latest Buybacks Offer, Performance and Financial details
Impact of Triveni Buyback on the Company
They believe that 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.
Post completion of the Buy-back, the debt-equity ratio of the Company on a standalone basis and a consolidated basis will not be greater than twice the aggregate of the paid-up share capital and free reserves.
Salient financial parameters consequent to the Buyback based on the audited standalone and consolidated financial
statements for the half year ended on March 31, 2019, are as under:
| Parameters | Based on Consolidated Financial Statements |
Based on Standalone Financial Statements |
||
| Pre Buyback | Post Buyback | Pre Buyback | Post Buyback | |
| Net Worth (Rs in Lakhs) | 104046.61 | 94046.61 | 110372.73 | 100372.73 |
| Return on Net Worth % | 23.42% | 24.73% | 21.48% | 22.60% |
| Earnings Per Equity Share (EPS) (Basic) (in Rs) |
8.55 | 8.90 | 8.39 | 8.73 |
| Book Value per share (in Rs) | 40.34 | 37.93 | 42.79 | 40.48 |
| Price Earnings (PE) Multiple | 8.93 | 8.58 | 9.09 | 8.74 |
| Debt/ Equity ratio | 1.68 | 1.86 | 1.58 | 1.74 |
Basis of Calculating Triveni Engineering & Industries Buyback Price
The Buyback Offer Price being INR 100 per Equity Share has been arrived at after considering various factors including, but not limited to the trends in the volume weighted average prices of the Equity Shares on the Stock Exchanges, the net worth of the Company, price earnings ratio, impact on other financial parameters and the possible impact of Buyback on the EPS.
More on Triveni Engineering & Industries Buyback Price Calculation
The Buyback Offer Price i.e., INR 100 per Equity Share represents, premium of 62.91% and 62.81% over the volume weighted average market price of the Equity Shares on BSE and on NSE, respectively, during the three months preceding May 21, 2019, being the date of intimation to the Stock Exchanges for the Board Meeting to consider the proposal of the Buyback and premium of 47.06% and 47.17% over the closing market price of the Equity Shares on BSE and on NSE, respectively, as on May 21, 2019.
Know more about other Buybacks and their Registrar details
Source of Funds for the Buyback
The funds required for implementation of the Buyback (including the Transaction Costs) will be sourced from current balances of cash and cash equivalents and/or internal accruals of the Company and/or liquidation of financial instruments held by the Company.
Company will transfer from its free reserves and/or securities premium account a sum equal to the nominal value of the Equity Shares bought back pursuant to the Buyback to the Capital Redemption Reserve Account and details of such transfer will be disclosed in the subsequent audited financial statements of the Company.
The Company has neither raised nor does it intend to raise additional debt in connection with the Buyback. The Company confirms that the funds for the Buyback will be made available out of its internal accruals and not out of the funds borrowed, if any, from banks and financial institutions.
Triveni Engineering & Industries Limited – Manager to the Buyback
| HDFC Bank Limited Peninsula Business Park ‘B’ Wing, 4th Floor, Senapati Bapat Marg Lower Parel Mumbai 400 013 Tel: +91 22 3395 8233 Fax: +91 22 3078 8584 E-mail: teil.buyback@hdfcbank.com Contact Person: Mr. Ankit Bhatia / Mr. Ravi Sharma SEBI Registration No.: INM000011252 Validity Period: Permanent |
Triveni Engineering & Industries Limited – Registrar to the Buyback
| Karvy Fintech Private Limited Karvy Selenium Tower B Plot 31-32, Gachibowli Financial District, Nanakramguda Serilingampally Hyderabad Rangareddi Telangana 500 032, India Tel: +91 40 6716 2222 Fax: +91 40 2343 1551 E-mail: teil.buyback@karvy.com Investor Grievance Id: einward.ris@karvy.com Contact Person: Mr. M. Murali Krishna SEBI Registration No.: INR000000221 Validity Period: Permanent |
Triveni Engineering & Industries Limited Contact Details
| Company Contact Details |
| TRIVENI ENGINEERING & INDUSTRIES LIMITED CIN: L15421UP1932PLC022174 Registered Office: Deoband, Saharanpur, Uttar Pradesh-247554 Contact Person: Geeta Bhalla, Group Vice-President, Company Secretary and Compliance Officer Tel. No.: +91 120 4308000, Fax No.: +91 120 4311010 E-mail: shares@trivenigroup.com Website: www.trivenigroup.com |
Triveni Engineering & Industries Limited Buyback News
News 1 – Buyback PDF / Letter of Offer [Download]
FAQs of Triveni Engineering Buyback
What is the Triveni Engineering Buyback Period?
Triveni Engineering 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 5, 2019. 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 Triveni Engineering 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 Triveni Engineering Buyback Offer?
Triveni Engineering Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 1,00,00,000 Fully paid up Equity shares, adhering to the buyback price.
When Triveni Engineering Buyback offer will start?
As per the released schedule, the Triveni Engineering 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 Triveni Engineering Buyback at all times, we ensure you have access to the right data.
When is the closing date of Triveni Engineering Buyback?
For the ease in access to the dates and related aspects, we have segregated the closing date of Triveni Engineering Buyback. The buyback would stay open from NA, and 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 Triveni Engineering Buyback?
The amount at which the shares are taken back by the company is referred to as Triveni Engineering Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.100, the price paid to each eligible shareholder.
What is the record date for Triveni Engineering Buyback offer?
Record date of Triveni Engineering Buyback is June 19, 2019. 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 Triveni Engineering Buyback?
Triveni Engineering Buyback Size is Rs. 100,00,00,000 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 Triveni Engineering Buyback?
Objective of the Triveni Engineering Buyback is to enhance the total return made by equity shareholders. Buyback will improve the Earnings Per Share (EPS), Return on Capital Employed (ROCE) and Return on Equity (ROE); The Buyback will help in achieving an optimal capital structure. Through buyback, company will distribute the surplus cash to shareholders as per their holding proportion.
Who is the Registrar to Triveni Engineering Buyback offer?
Designated registrar of Triveni Engineering Buyback is Karvy Fintech 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 Triveni Engineering Buyback offer?
Manager to the Triveni Engineering Buyback is HDFC Bank 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 Triveni Engineering 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 Triveni Engineering 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 Triveni Engineering Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Triveni Engineering Buyback Dates.
What can be the Impact of Triveni Engineering Buyback on the Company?
They believe that 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.
Post completion of the Buy-back, the debt-equity ratio of the Company on a standalone basis and a consolidated basis will not be greater than twice the aggregate of the paid-up share capital and free reserves.
Where to find complete details on Triveni Engineering 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.
Market Guide
Featured Topics