Shervani Industrial Syndicate Ltd. Buyback 2024
Shervani Industrial Syndicate Limited, established in 1948 by Late M.R. Shervani, has transitioned from manufacturing Geep brand Torches & Drycell Batteries to a prominent real estate player.
Led by Chairman Mr. Saleem Iqbal Shervani, a former Union Minister and Managing Director Mr. Mustafa Rashid Shervani, the company has successfully completed residential projects like “Sterling Apartments” and is developing “Shervani Legacy,” a comprehensive residential colony in Prayagraj.
Additionally, the company has plans for a multispecialty hospital within this estate. Originating as Great Eastern Electroplators Limited, it underwent several transformations, culminating in the sale of its Geep brand in 1998, which led to its current name and business focus.
The Shervani group also includes Farco Foods Private Limited, a biscuit manufacturing entity, and Star Hotels Private Limited, which operates several hotels and a restaurant under the Shervani brand.
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Mar 07 2024 |
| Buyback Opening Date: | Mar 13 2024 |
| Buyback Closing Date: | Mar 20 2024 |
| Buyback Offer Amount: | ₹ 6.83 Cr |
| Date of Board Meeting approving the proposal: | Feb 23 2024 |
| Date of Public Announcement: | Feb 23 2024 |
| Buyback Offer Size: | 4.96% |
| Buyback Number of Shares: | 1,34,000 |
| Price Type: | Tender Offer |
| Buyback Price: | ₹ 510 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars (In Cr) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| Sales + | 79 | 92 | 32 | 9 | 27 |
| Expenses + | 35 | 67 | 27 | 12 | 23 |
| Operating Profit | 43 | 25 | 4 | -3 | 4 |
| OPM % | 55% | 27% | 14% | -32% | 14% |
| Other Income + | 0 | 1 | 1 | 1 | 22 |
| Interest | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 43 | 25 | 5 | -3 | 24 |
| Tax % | 20% | 21% | -46% | 6% | 3% |
| Net Profit + | 34 | 20 | 7 | -3 | 24 |
| EPS in Rs | 109.31 | 73.79 | 24.66 | -10.26 | 87.49 |
|
Dividend Payout %
|
0% | 3% | 10% | -19% | 3% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
15 Comments
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The only positive is that the circuit limit is 20% on this stock , so price discovery will happen quickly.
It hit the lower circuit today and may be tomorrow also.
What’s happening here can anyone explain.
Price is already too much about buyback price and size is smaller than last buyback.
Is promoter only want to sell shares in buyback?
Nothing surprising about the buyback announcement. What was surprising was why the share price shot up after the board meeting was announced.
This buyback price are released check this out.
Meeting Rescheduled For 23 Feb for BUYBACK
👍 Thanks for sharing.
Where did you get these details from ?
Any update on this?. Just curious, that’s all.
Buyback Price fixed – 510 (I.e. far less then yesterday’s closing price of 768 !
This reminds me of Elegant Marbles.
Exactly 😂 Here also I repeat: Run away please.
Shervani Industrial Syndicate Buy Back 2019
Size: 24.49 % of Equity
Total Shares to be bought Back: 4,15,000
Offer Value: Rs 20.75 crores
Price on record date: 606 (Yes, price was higher than buy back price)
Max Shares for Small Share Holders: 330 shares
Buy Back Price: 500
Actural ER: 63.63% (7 shares out of 11)
AR : Not a single share (small share holder category) participated
Shervani Industrial Syndicate Buy Back Feb 2024:
Expected Minimum ER (based on data of 31-03-2023) : 45%
Expected Offer in Rupee Terms: more than 40 crores
Expected Buy back price: ?????
Gr8 analysis.
Huge thanks.
Wow, what a super warning !! Hope friends in the group took it seriously and have not put their money in.
Ankit ji are you with same name on Twitter?