Majesco Buyback 2020
(i) Majesco is strategic partner insurers count on to deliver digital business transformation. They combine technology, expertise and leadership to help insurers modernize, innovate and connect to build the future of their business – and the industry – at speed and at scale.
(ii) An insurance platform, like Majesco Digital1st Insurance® is a portfolio of solutions designed to enable those journeys. It includes an innovative microservices platform to support products and business models in an on-demand world.
(iii) Majesco works with insurers, reinsurers, brokers, MGAs as well as greenfields and start-ups in the insurance industry. They have over 200 customers across P&C, L&A and Group Benefits who are transforming their businesses by modernizing, optimizing or creating new business models with Majesco solutions.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Nov 13 2020|
|Buyback Opening Date:||Nov 27 2020|
|Buyback Closing Date:||Dec 11 2020|
|Buyback Offer Amount:||₹ 631.26 Cr|
|Date of Board Meeting approving the proposal:||Oct 08 2020|
|Date of Public Announcement:||Oct 08 2020|
|Buyback Offer Size:||25%|
|Buyback Number of Shares:||74,70,540|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 845 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Profit before tax||-8||6||21||103||117|
|EPS in Rs||2.99||2.17||2.24||19.07||24.09|