Balrampur Chini Mills Ltd Buyback 2019
(i) India is the second-largest sugar producer and the largest sugar consuming country in the world. Balrampur Chini Mills Limited is one of India’s largest integrated sugar manufacturing companies.
(ii) What makes Balrampur Chini Mills Limited (BCML) special is that it is more than a sugar company.It is also engaged in the ancillary businesses of ethanol manufacture and co-generation.
(iii) The Company’s 10 factories in Uttar Pradesh possess
a) An aggregate cane crushing capacity of 76,500 tonnes per day
b) Distilleries possessing an aggregate capacity of 360 kilolitres per day
c) The saleable co-generation capacity of 163.20 megawattsBCML is more than just another industrial entity; it is a rural prosperity driver.
Buy Back Offer Deal:
| Buyback Type: | Tender offer |
| Buyback Record Date: | Apr 18 2019 |
| Buyback Opening Date: | May 16 2019 |
| Buyback Closing Date: | May 31 2019 |
| Buyback Offer Amount: | ₹ 147.67 Cr |
| Date of Board Meeting approving the proposal: | Apr 05 2019 |
| Date of Public Announcement: | Apr 05 2019 |
| Buyback Offer Size: | 3.69% |
| Buyback Number of Shares: | 84,38,327 |
| FV: | 1 |
| Buyback Price: | ₹ 175 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Year | Revenue(Cr) | PAT(Cr) | Equity(Cr) | Net Worth(Cr) | Debt(Cr) | D/E | EPS | P/E |
| 2016 | 2803 | 100 | 24.5 | 1231 | 1490 | 1.21 | 4.09 | 14.88 |
| 2017 | 3485 | 592 | 23.5 | 1541 | 1701 | 1.10 | 24.26 | |
| 2018 | 4370 | 221 | 22.84 | 1587 | 890 | 0.56 | 9.41 |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,64,448 | 1,64,448 | 1,64,448 | 1,64,448 |
| No. of Shares buyback | 376 | 571 | 856 | 1142 |
| BuyBack Profit | 11656 | 17701 | 26536 | 35402 |
| Profit | 7.08% | 10.76% | 16.12% | 21.52% |
Recommendation:
Company Contact Details:
29 Comments
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2019 Buyback Final AR Analysis
https://investorzone.in/balrampur-chini-2019-buyback-ar-analysis/
What is the final acceptance ratio
Looking at the subscription figure the approx AR could be around 10-15% for retail.
https://d2un9pqbzgw43g.cloudfront.net/main/balrampur-chini.png
Buyback process completed today?
Buyback has been closed. Now settlement will be done on 10.06.2019.
Entitlement based on Record date
Reserved Category for Small Shareholders = 5 Equity Shares out of every 62 Equity Shares
General Category for all other Eligible Shareholders = 3 Equity Shares out of every 89 Equity Shares
I sold all shares on record date i.e. 18th April morning. Can i buy again and tender? Please suggest I am new to equity market
Yes.
Yes you can as you are eligible for buy back you purchase the shares again and offer before the due dates. But you have to keep the shares in your do account for offering the same
I had 350 shares which I sold on record date. As per Market wizard 26 shares will be accepted. so I should buy 28 shares and tender 28 or should I buy 28 and tender 350.Basically all my 28 shared shares should be accepted. Your response is much appreciated. Thanks for the help
you should buy 28 shares & offer for buy back
yes you can buy & tender shares to the extent eligible
Letter of Offer
https://www.bseindia.com/xml-data/corpfiling/AttachLive/B68BB47B_2790_400C_AEAE_F5197B126E4B_172527.pdf
What will be the AR
should we participate
Is company fundamentally sound
https://www.moneycontrol.com/news/business/markets/balrampur-chini-buyback-investors-should-not-participate-through-fresh-investment-3829111.html
Record date —- THU April 18, 2019
Should we buy Now or wait for announcement
http://www.bseindia.com/xml-data/corpfiling/AttachLive/2eb7e8bd-f3ff-47bd-8b9a-64b66a39241f.pdf
Wipro buyback
Wipro Buyback Meeting on 15-16 April 2019
The stock tanked today. Will it go below 130 tomorrow?
Approved the buyback of fully paid up Equity Shares of face value of Re. 1/- (Rupee One
only) each not exceeding 84,38,327 (Eighty Four Lacs Thirty Eighty Thousand Three
Hundred Twenty Seven) Equity Shares (representing upto 3.69% of the total paid-up
Equity Share Capital of the Company as on March 31, 2018) at a price of Rs. 175/- (Rupees
One Hundred Seventy Five only) per Equity Share payable in cash for an aggregate
amount of upto Rs. 147,67,07,225 (Rupees One Hundred Forty Seven Crores Sixty Seven
Lacs Seven Thousand Two Hundred Twenty Five only) excluding transaction costs viz.
brokerage, securities transaction tax, goods and service tax, stamp duty, etc., which is
approximately 9.82% and 9.76% of the fully paid-up Equity Share Capital and Free Reserves
(including Securities Premium Account) as per the latest Audited Standalone and
Consolidated Balance Sheet of the Company for the financial year ended March 31, 2018,
respectively, on a proportionate basis through the “Tender Offer” route using Stock
Exchange Mechanism as prescribed under Securities And Exchange Board of India (Buy-
Back of Securities) Regulations, 2018 (the “Buyback Regulations”) and the Companies Act,
2013 (as amended) (the “Act”) and rules made thereunder from the equity shareholders of
the Company who hold Equity Shares as on the record date (“Buyback”). The buyback
would be subject to applicable statutory approvals.
good buy at CMP.
21% upside from the Current Market price.
175
What is the buy back price
(i) This time also the size of buyback would be around 100 cr.
(ii) Size of Equity is 22.84 Cr on Fv=1.
(iii) As on 31.03.2018, no. of Shareholder having shares up to 2 lakh = 4,40,66,344
Last Year buyback detail
1. Buyback Size= 99 Cr ( 2.41% of Paid-Up Capital Equity).
2. Buyback Price = 150.
3. Share Price = 114 ( on 21-02-2018 when buyback was announced).
4. Record Date = 06.03.2018( Share price on 05.03.2018 was 107 but then it fell drastically to 86 within 10 days. However, at that time the whole market was bleeding).
5. Final AR for Retail Category = 10%.
Isbar ka Acceptance Ratio kya ho sakta hai
10-15%