Savita Oil Technologies Buyback 2021
Mr. Nandkishore Mehra, along with his father Mr. Devichand Mehra founded Savita in 1961. They have setup Savita’s first manufacturing unit at Sakinaka, Mumbai in 1961 to manufacture liquid paraffin as an import substitute. This was soon followed by the production of petroleum jelly in 1965. Then a year later, Savita built its second manufacturing unit at Turbhe, on the out-skirts of Mumbai for the manufacture of petroleum specialties.
IN 1976, Savita’s Research and Development Department was setup to be the first of its kind in the private sector oil industry in India to be recognized by the Government of India’s Department of Science and Technology.
Portfolio of the company:
1. Transformer Oil.
2. White Oil and Liquid paraffin.
3. Lubricating Oil
4. Petroleum jellies
5. Oxidises Waxes and Wax emulsions
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Mar 05 2021|
|Buyback Offer Amount:||₹ 35 Crores|
|Date of Board Meeting approving the proposal:||Feb 19 2021|
|Date of Public Announcement:||Feb 19 2021|
|Buyback Offer Size:||1.78%|
|Buyback Number of Shares:||2,51,000|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 1400 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Particulars (in Cr)||Mar-14||Mar-15||Mar-16||Mar-17||Mar-18||Mar-19||Mar-20|
|Profit before tax||133||-4||43||126||156||163||125|
|EPS in Rs||61.46||-0.87||24.76||64.11||88.12||79.79||67.97|
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,57,194||1,57,194||1,57,194||1,57,194|
|No. of Shares buyback||46||71||106||142|