Siyaram Silk Mills Limited Buyback Limited 2023
Siyaram Silk Mills Ltd. is the largest producer of blended high fashion suiting’s shirting’s and apparels. The leaders in business for over 3 decades producing over 60 million meters per annum with an unparallel network of 60,000 retailers and over 450 dealer network Pan India with a sales force of over 400 dedicated employees. Siyaram’s belief in providing value to its customers is the reason behind it having the widest range of latest machinery in its eco-friendly plants at Tarapur, Daman and Mumbai.
Siyaram Silk Mills Ltd (SSM) is part of the Siyaram Poddar Group, which also comprises Balkrishna Industries Ltd and Govind Rubber Ltd, all listed companies at Bombay Stock Exchang SSM is a small Cap company with a market cap of ₹936.75 crores.
In the March 2014 quarter, the company’s annualized net profit was ₹20.2 crores. Siyaram’s produces over 4 million metres of fabric produced per month over 60 million meters of fabric annually.
Siyaram’s brands include J Hampstead, Oxemberg among others
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Sep 18 2023 |
| Buyback Opening Date: | Sep 25 2023 |
| Buyback Closing Date: | Oct 03 2023 |
| Buyback Offer Amount: | ₹ 107.99 Cr. |
| Date of Board Meeting approving the proposal: | Aug 12 2023 |
| Date of Public Announcement: | Aug 12 2023 |
| Buyback Offer Size: | 3.20% |
| Buyback Number of Shares: | 14,99,992 |
| Price Type: | Tender Offer |
| FV: | 2 |
| Buyback Price: | ₹ 720 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars (In Cr) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| Sales + | 1,815 | 1,698 | 1,088 | 1,903 | 2,229 |
| Expenses + | 1,573 | 1,529 | 1,033 | 1,569 | 1,860 |
| Operating Profit | 241 | 169 | 55 | 334 | 369 |
| OPM % | 13% | 10% | 5% | 18% | 17% |
| Other Income + | 24 | 34 | 41 | 29 | 40 |
| Interest | 48 | 43 | 30 | 18 | 20 |
| Depreciation | 62 | 73 | 61 | 59 | 58 |
| Profit before tax | 154 | 88 | 5 | 287 | 332 |
| Tax % | 35% | 18% | -2% | 26% | 24% |
| Net Profit + | 101 | 72 | 5 | 213 | 252 |
| EPS in Rs | 21.58 | 15.3 | 1.14 | 45.34 | 53.73 |
| Dividend Payout % | 20% | 56% | 404% | 20% | 20% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,70,909 | 1,70,909 | 1,70,909 | 1,70,909 |
| No. of Shares Buyback | 91 | 138 | 208 | 277 |
| Buyback Profit | 9,373 | 14,214 | 21,424 | 28,531 |
| Profit% | 5.48% | 8.32% | 12.54% | 16.69% |
109 Comments
Leave a Reply
You must be logged in to post a comment.
ER 35/310, 34/300 in our case.
Buyback period from 25/9/2023 to 03/10/2023
Bids Settlement by 10/10/2023
What could be the AR
18th i.e today until 3:30pm was the last day as record date right?
3.30 pm has infact no relevance. To be eligible for buyback, the shares should have been in your demat account any time on or before 18th in this case. For this you should have bought the shares on 15th since 16th and 17th were market holidays. I hope this is clear to you Preet ji.
I am holding 380 shares and today somehow I was unable to sell the extra stocks.
Will I come in general category or I have a chance to sell on monday
You have crossed the line by a long distance to be a retail investor. Please try to get out of the situation by transferring about 60 shares to your dear friends or family members before 8pm on 18/9/23 through off market transaction. That’s the only way out as far as I know,out of my recent experience. Good luck to you and all fellow investors.
Thanks for the valuable update
(i) The Buyback Price has been increased from ₹ 650 to ₹ 720/.
(ii) The maximum number of Equity Shares proposed to be bought back by the Company has been reduced from 16,61,530 to 14,99,992.
When will indiamart buyback money be credited?
Already credited on 13
Yes,in my case too.
What would be the last date to buy to remain eligible for buyback today or 18 th
Today is the last date to buy for buy back.
When will indiamart buyback money be credited?
18th i.e today until 3:30pm was the last day as record date right?
What would be the expected AR in this buyback.
Buyback price is increased from 650 to 720 in meetings of 14th Sept 2023.so total numbers of shares are reduced accordingly.
Thank you very much for your kind update.
Today 15 Sept 23 last day to buy as record day is 18th on Monday. Already it had given good profit for most of us
1 share in all accounts will accepted here?
Sure,why doubt?
Got it
Thanks
Provided the share is held in in different Pan holders names and not by one person in different accounts. This is the case in most of the cases.
Moved out from Siyaram after a decent gain of 12% and taken position in LT. Limited funds so I think now I have a better chance of gain in LT.
LT is trading around 2900/ already. Is it worth holding for buyback? I am having 81 shares now and wondering whether to sell part or full on Monday. Sold part of Siyaram today.
I like to play safe when I am making a decent profit. For me, a decent profit lies between 10% to 20% (with low risk and having a time period of less than a month). I bought LT today as the current buyback price has a 3.5% premium in regards to CMP. So, I think the chance of increasing the buyback price is in favor. If not then I will exit from share before the market closes as I do not want to take any risk.
I suggest you wait till 03:15 PM on Monday for the increase in buyback price. If not then I suggest you sell all the shares during the market hours if you are making a decent gain.
Thank you Rohit ji for your valuable suggestions. I don’t think that buyback price is going to be revised on Monday.The sudden spurt in the share prices is being attributed to the big Aramco contract. I will hold 50-66 shares for the buyback for the exempt income. Will keep the returned shares for long term investment.
I bought this as I think the risk-reward ratio is favorable for me.
Very good. Let us hope for the best.
Excellent decision. I am waiting for a similar gain too.
What would be expected AR in Siyaram Silk?
After rush in the buyback (early Aug), there is a lull period now? no new buyback for last one month
Read some where in the media that INFY Board will consider buyback along with announcement of quarterly results on 13October.
I do not find any disclosure on the NSE or BSE website regarding this news.
Reply to Aashish ji
Aashish ji, I prefer to check QOQ, QOQ drop from 705 to 363 from March to June 23 and 406.58 to 363 of Quarter yearly basis… Probably Quarter is better way to check growth further…
Anyway, its own way..
please help me Whenever I try to apply in indimart share buyback throught cdsl site so i am found this problem txn not allowed early payin time limit exceeded
Both are looking good to me. Am positive and participating in both . Next round of buybacks may be in October after the quarterly results.
This comment is related to the query raised by Sree Wannabee..
If one has a choice between Siyaram and Sinclar hotels, which one is recommended? (Of course, SH may come at a time which doesn’t overlap with Siyaram).
Currently, Secondary market seems to be able to give better return.. Infra and financial sector is good and Siyaram Silk mill seems to be out of fashion!!
Considering recent drop in profit and revenue, still the small share holder ship is also high 18.26%…
I would give it a pass… although may give profit..
Sumit ji,
So kind of you. We honour your precious views. Thank you once again for your magnanimity in sharing your thoughts.
Thank you Sumit ji for your excellent input once again.I request new members including Raja ji to give due credence to your valuable views and opinions and take decisions. Good luck to all.
Thx Sumit ji
As per the financial pasted here
Revenues increased and so did net profit
Only OPM decreased by 1%
Sumit ji
I compared 22 and 23 results
Am I missing something here
Aashish ji, I prefer to check QOQ, QOQ drop from 705 to 363 from March to June 23 and 406.58 to 363 of Quarter yearly basis… Probably Quarter is better way to check growth further…
Anyway, its own way..
I understand sumit ji
For a turnaround story like Balaji telefilms,
(They recently toned down alt Balaji) qoq works better
For a traditional business established margins, normally year on year or qoq yearly gives the better picture, it eliminates the seasonality variable
Sumit ji and other members, what would be the acceptance ratio as per your opinion
How exactly did we arrive at the figure of 18.26%? As per the annual report, the promotors alone hold > 80%. The number of shareholders with < 500 shares as of March 2023 hold around 4.97% of the shares. Has there been a drastic change in shareholding pattern?
What could be the acceptance ratio, what price we need to average, any idea pls suggest or we need to skip this buyback. Any suggestions welcome.
Rohit ji
You can share the info nd say I am applying
That won’t be considered as investment advise
Put in the disclaimer that you are not sebi registered
That’s it
Yes, I too am missing you. Please be available with your valuable comments and inputs with out breaching any law.I think, it is possible.
Gopi I bought piramal based on this group. I am in decent profit. Any idea on siyaram, my average is 531 rs. Is it OK to hold or sell
With a 3.54% buyback size, this one looks good to me. I am participating in full
My average purchase is at around ₹531/. Not prepared for any forcast about the AR. My intention is to make some tax exempt income and enjoy the thrill and excitement this activity provides. I am gaining overall, although not in all cases. Wishing you good luck.
Thanks a lot Gopi ji
Off topic –
Route Mobile is supposed to have a mandatory open offer. Will it be a tender offer? Any idea when it will happen?
From now onwards, I will not be going to provide my views/comments on any buyback as per SEBI rules.
Expression of comments in this Zone is forbidden and is against SEBI rules, is what you mean Rohit Ji ? I didn’t know that. Thanks, it should be applicable to all then. Certain that I will miss you and so many Excellent and exceptional experts like Sumit ji,SiRK ji etc
The previlage of comments are the prerogative of the T V experts only then?
Yes, only SEBI registered Research Analysts (RA) can give public opinions on shares. Apart from that, no one is allowed to share their views as per the SEBI rules (even for free).
Good you warned. Please explore the possibility of exchanging views by forming what’s app group etc.if felt feasible.
I would be interested in that if that is possible
Rohit ji You can share the info nd say I am applying
That won’t be considered as investment advise
Put in the disclaimer that you are not sebi registered
That’s it
If even that is prohibited the whole fininfulencer Industry
YouTube Twitter will collapse
I know sebi is trying to regulate this. But the platforms which are not highly popular and are viewed by mere thousands and not lakhs or millions won’t be affected much
The strict guidelines and implementation would be mainly for YouTube fininfulencers
Thanks for your reply. I have consulted a couple of SEBI experts and awaiting their final response. Will let you know what they say.
Yes, Ashish ji, I see a gigantic sense and wisdom in your comment
Excellent 👌
Thanks gopi ji for your kind words
Surprisingly, the instant credit was not given yesterday and today. But only allowed to make purchases worth not more than 75% of the sale proceeds. I am put to loss n inconvenience. What may be the reason? I have raised my grievance to the cell. Waiting for the response.
I did some research and the eATM service (i.e. instant payout) is available for around 1000+ share scripts listed on NSE and BSE (not for all). So, I think the shares which you sold today were not on the list. To check this please do the following steps
Login > Equity> Stock list > Select the respective exchange
I know about this. Anyway, thank you very much for your response. All the best.
Sold out all the holdings today and booked profit as I think bulls are out now. Only have open buyback shares position.
Where to get the latest quarter share distribution pattern wrt to number of share like (1-200 share held by %)
Heard a news that Hindcon Chemicals is going for Buyback. Could not see any details regarding this Investorzone forum. As per sources they are planning a board meeting on 26th August 2023
Sorry, this is not related to this buyback.
I am using Zerodha and Paytm Money for Buyback. I am able to sell Ashiana today (16 Aug 23) as on the 14th Aug 23 morning the share got punched for buyback and returned after a couple of hours but Zerodha and PayTM do not show it in the Portfolio however in the case of SBI and HDFC demat (held by Siva) sold it on 14th Aug 23 itself. Can someone please suggest (Gopi, Sumit, etc.)?
I presume Zerodha Broking is your broker. It is normal with Zerodha. The firm takes a day or two to credit the the returned shares some times .I don’t think there is anything to worry .
It hurts a lot. Today I lost around Rs 5,000 in Ashiana as I am not able to sell on 14th Aug 2023.
As per my Buyback Trading Rule, I exit on the same day (if the share is down up to 2.25%) or the next working day once the excess share is returned to Demat.
Sad to know that.I still count Zerodha Broking’s Services are really good in terms of the technical support this firm provides.The quality of service rendered by the customer service staff is not upto the mark, let us hope things will improve.
Finally, after tracking Zerodha for the last 20 days, I got a response. They consider the holding available at 06:30 AM in the morning for showing in Kite. So, any Demat credit after that will not be considered. However, PayTM is not replying to me but I will escalate the issue.
Also, Zerodha is going to explore the available option further to allow the user to update the holdings as per my conversation.
I reached a couple of my know people and they will get back to me for Religare. However, a local broker, Maverick allows you to sale it.
I am going to reach Angel as well and will share if they allow this.
Not HDFC but ICICI DIRECT. Thank you.
I am enjoying the Instant credit of 75% of the sale proceeds in most of the cases within 5 minutes at ICICI DIRECT. Everyone knows the advantage of this.
I am not sure how you are getting this but as per the new rule, the amount of sale proceeds of shares is available on the next day for trading. Do you pay anything over and above it?
I have to search more about the benefit of ICICI Direct and will raise a ticket to Zerodha and PayTM as well.
I am covered under priority circle without any extra payment due to my long association and hence I am provided with such benefits. Thank you.
More than 30 years.
Thanks so much for replying. I did some research today and they provide up to Rs 50,000 in same-day withdrawal and Rs 2,50,000 in case you purchase a yearly brokerage plan of Rs 299 and up to Rs 2 crore in case you buy a lifetime brokerage plan of Rs 5,000. This is the special benefit of ICICI Direct. Also, they allow you 75% of the funds on the same day for investment. I have raised tickets to Zerodha and PayTm and will decide to move once I hear back from the support.
Requesting you to please share the date when you are able to sell the unaccepted shares in the Tender offer going forward. Just want to confirm that ICICI Direct always allows you to sell unaccepted shares in one day advance in comparison with Zerodha and PayTM.
ICICI charges full brokerage whereas Zerodha gives you facility to see Equity at flat fee in a buyback.
Thanks for mentioning. I checked this out and Zerodha is charging me Rs 0.10 per contract note and Rs 20 flat fee for Buyback. I try to find this out and ICICI is charging full brokerage on the buyback and the minimum brokerage plan is charing 0.10% in the cash market with a life time fee of Rs 5000.
Just for other members, Zerodha allow me to take new position on selling other shares from my Demat but PayTm does not allow to take new position from selling other shares. Both broker allow to withdraw funds next day.
Just a request from you Siva, if you can share the below: –
1) Day and time when you receive the mail of credit of shares not accepted in the tender offer, in your demat.
2) Day and time when you are able to sale the holding in your ICICI Direct.
Thanks
I have already told you that I used to delete the messages after going through, due to storage problem. Hence, no details can be shared now. Sorry for my inability to give the details as asked by you.
I don’t have that much good memory to share you the details. Sorry for my inability.
Thanks for your reply. I am asking for the buyback which is closed just now like FDC, PEL, KRBL, etc.
OK. Taken note of the point. Will respond as and when the occasion arises. Thank you.
Thanks
Bought @523/ and intend to hold.
Gopi bought at 630.
Suppose ER is 10 percent and my total quantity is 100 and I tender only 10 shares then what happend? 10 shares get accepted or only 1?
Yes ER acceptance guaranteed
Yes, provided you held 100 shares on record date.
Buyback announced.
Price : 650
No of shares : 16,61,530.
Size: 108cr
No of shares paid up equity: 3.54%
Record date : 18th September
4-5 buyback is having 25 Aug 23 so there payments will be completed till 14 Sept so full fund will be available on 15th Sept, last day to purchase .Pro share holder thinking.
Thank you for your insight and valuable contribution Girish ji.
Yet another happy and good news from you Mohsin ji. Thanks
Sir, Will it open gap up or gap down on Monday ?
It will mainly depend on the quarterly results about which I don’t have any idea/ information.
Negative QOQ result. Not sure about the opening. I already have open position in this and will try to move out tomorrow.
What could be acceptance ratio. To be profitable to what price we need to average.
Record date is 18 Sep
It ran up 7% today
So those of us who were waiting for krbl funds to free up won’t be able to reap the benefits now
Only 15% premium remaining now
So benefit in applying
Post buyback share price will fall
Financial parameters look very good to me. Still remember the old advertisements,vaguely though. Awaiting the outcome of the Board meeting scheduled for tomorrow.