Any recommendation from the experts….if this buyback should be considered…what would be the good entry point from buyback perspective
Care Ratings Ltd. Buyback 2022
CareEdge Ratings (CARE Ratings Ltd) commenced operations in April 1993 and in almost 3 decades has established itself as one of the leading credit rating agencies in India.
CareEdge Ratings has emerged as the leading agency for covering many rating segments including manufacturing, infrastructure, financial sector including banks, non-financial services, among others. The company has an established track record of rating companies over almost three decades and has had a pivotal role to play in developing bank debt and capital market instruments including CPs, corporate bonds and debentures, and structured credit.
CareEdge is recognized for being a knowledge-based group and provides near real-time research on all domestic and global economic developments. Special studies and surveys are also undertaken on different subjects. The Industry Research team tracks and publishes sector reports on an on-going basis.
CareEdge Ratings’ (CARE Ratings Ltd.) wholly-owned subsidiaries include CARE Advisory, Research & Training Ltd. and CARE Risk Solutions Pvt Ltd.
In the global arena CARE Ratings Ltd. is a partner in ARC Ratings, an international credit rating agency. The company also has subsidiaries in Mauritius ‘CareEdge Ratings (Africa) Private Limited (CRAF)’ and in Nepal ‘CareEdge Ratings Nepal’. The company has a strategic alliance with Japan Credit Ratings Agency (JCR) and MoU with Russian rating agency ACRA.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Sep 14 2022|
|Buyback Offer Amount:||₹ 121|
|Date of Board Meeting approving the proposal:||Jul 20 2022|
|Date of Public Announcement:||Jul 20 2022|
|Buyback Offer Size:||7.99%|
|Buyback Number of Shares:||23,68,000|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 515 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Profit before tax||150||160||181||197||178||212||233||202||104||119||99|
|EPS in Rs||37.69||39.78||44.63||47.53||40.68||50.13||55.13||46.66||27.96||30.39||25.34|
|Dividend Payout %||27%||50%||63%||166%||69%||56%||100%||64%||70%||56%||39%|
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,74,600||1,74,600||1,74,600||1,74,600|
|No. of Shares buyback||128||194||291||388|
Buyback : Tender type
Price : 515rs
No of Shares : 23,68,000 /-
Size : 121.95cr
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