Abirami Financial Services (India) Ltd Buyback 2023

Incorporated in 1993, Company’s main businesses are Hire purchase, Leasing, and Lending Money against Securities, Movable and immovable properties. The Company’s Shares are listed on the Bombay Stock Exchange Limited. The company is not accepting Public Deposits. The Company has no Subsidiary Companies.

Buy Back Offer Deal:

Buyback Type: Tender Offer
Buyback Record Date: Jan 27 2023
Buyback Offer Amount: ₹ 1.68 cr
Date of Board Meeting approving the proposal: Jan 12 2023
Date of Public Announcement: Jan 12 2023
Buyback Offer Size: 10%
Buyback Number of Shares: 6,00,000
Price Type: Tender Offer
FV: 10
Buyback Price: ₹ 28 Per Equity Share

Details of Buyback:

The proposal to buyback not exceeding 6,00,000 (Six Lakh) equity shares of face value of Rs. 10 of the Company (representing 10 % of the total number of equity shares in the paid-up share capital of the Company) at a price of ~ 28 (Rupees Twenty-Eight Only) per equity share payable in cash for an aggregate consideration not exceeding 1,68,00,000 Cr (Rupees One Crore Sixty-Eight Lakh Only).

Salient financial parameters:

Particulars (in cr) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Sales + 0 0 0 0 0
Expenses + 0 0 0 1 1
Operating Profit 0 0 0 -1 -1
OPM %
Other Income + 1 0 1 1 0
Interest 0 0 0 0 0
Depreciation 0 0 0 0 0
Profit before tax 0 0 0 0 0
Tax % 23% 33% 29% 0% 0%
Net Profit 0 0 0 0 0
EPS in Rs 0.28 0.03 0.27 -0.2 -0.32
Dividend Payout % 106% 0% 0% 0% 0%

How to Participate in buyback?

1. Firstly, to be eligible for the buyback the investor should have shares of Abirami Financial Services (India) Ltd 2023 in  Demat or physical form as on the record date [27-Jan-2023] 2. Once you have shares in Demat, you can participate in the buyback process which is opening from [To be updated] by selling your shares through your broker on NSE or BSE. 3. Then on [To be updated], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.

Profit from the buyback on the bases of acceptance Ratio:

Buy 7,143 Shares at CPM of Rs 23 (2,00,000/28)
Acceptance Ratio 33% 50% 75% 100%
(i) Amount Invested in Buyback 1,64,289 1,64,289 1,64,289 1,64,289
(ii) No. of Shares buyback 2,357 3,571 5,357 7,143
(iii) Buy Back Profit 11,785 17,855 26,785 35,715
(iv) Profit(%) 7.17% 11% 16.3% 21.7%

Recommendation:

Avoid

5 Comments

    For eclerx:
    7 (Seven)Equity Sharesfor every 46 (Forty Six) Equity Shares for small share holder
    Around 15% ER. Not great … Overall expect 30-40% AR

    Reply

    32% ER is retail in Kamaholding. Expecting 80-90% of acceptance. May be 100% for all single share holders..

    Reply

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