Sportking India Limited 2023

Established in 1977 under the leadership of Mr. Jagdish Chandra Avasthi, Sportking has emerged as India’s leading vertically integrated textile conglomerate. In more than four decades of its existence, Sportking has relentlessly continued its journey on the path of fast paced growth under the benevolent vision  of Mr. Raj Avasthi: chairman and dynamic management of Mr. Munish Avasthi: Managing Director creating several benchmark in its varied ventures of Yarns, Fabrics, Garments and Retail Businesses.

Sportking today owns seven State-of-the-art manufacturing facilities in India spread across the states of Punjab and Himachal Pradesh which are equipped with the latest machinery, producing Yarns, and Garments that are a benchmark in quality, range and innovation in the domestic as well as International markets. Besides manufacturing facilities, Sportking also own over 100 Retail Gram Stores spread across many indian states.

With annual turnover of over INR 1500 Cr more than US$100 Million revenue is generated from exports to more than 30 countries all over the globe.

 

 

Buy Back Offer Deal:

Buyback Type: Tender Offer
Buyback Record Date: Feb 10 2023
Buyback Opening Date: Mar 15 2023
Buyback Closing Date: Mar 18 2023
Buyback Offer Amount: ₹ 55.10 Cr
Date of Board Meeting approving the proposal: Jan 31 2023
Date of Public Announcement: Jan 31 2023
Buyback Offer Size: 4.37%
Buyback Number of Shares: 5,80,000
Price Type: Tender Offer
FV: 10
Buyback Price: ₹ 950 Per Equity Share

Details of Buyback:

The proposal to buyback not exceeding 5,80,000 (Five Lakh Eighty Thousand ) equity shares of face value of Rs. 10 of the Company (representing 4.37% of the total number of equity shares in the paid-up share capital of the Company) at a price of ~ 950 (Rupees Nine Hundred Fifty Only) per equity share payable in cash for an aggregate consideration not exceeding 55,10,00,000 Cr (Rupees Fifty-Five Crore Ten Lakh Only).  

Salient financial parameters:

Particulars ( In Cr) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Sales + 1,053 1,160 1,354 1,305 2,153
Expenses + 952 1,031 1,218 1,094 1,554
Operating Profit 101 129 136 211 599
OPM % 10% 11% 10% 16% 28%
Other Income + 13 2 3 -3 24
Interest 29 39 58 38 32
Depreciation 56 54 63 52 44
Profit before tax 29 38 18 118 547
Tax % 34% 36% 32% 28% 25%
Net Profit 19 24 12 85 409

How to Participate in buyback?

1. Firstly, to be eligible for the buyback the investor should have shares of Sportking India Limited 2023 in Demat or physical form as on the record date [10-02-2023] 2. Once you have shares in Demat, you can participate in the buyback process which is opening from [15-03-2023] by selling your shares through your broker on NSE or BSE. 3. Then on [18-03-2023], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.  

Profit from the buyback on the bases of acceptance Ratio:

Buy 211 Shares at CPM of Rs. 702 (2,00,000/950)
Acceptance Ratio 33% 50% 75% 100%
(i) Amount Invested In Buyback 1,48,122 1,48,122 1,48,122 1,48,122
(ii) No. of Shares Buyback 70 105 158 211
(iii) Buyback Profit 17,360 26,040 39,184 52,328
(iv) Profit % 11.70% 17.50% 26.45% 35.32%

10 Comments

    Total application or order in this buyback is 28672
    So 1 share sure accept

    Reply

    Buyback closing date is 28 March but here written 18 March.
    Please correct typomistake

    Reply

    Dear Umesh ji / Sumeet ji,
    I have 56 Shares of Sportking but I have not received any mail regarding entitlement
    What could be the reason
    Can I apply without entitlement letter and what is the probability of acceptance

    Reply

      Check mail in spam and other labels.
      Or check on ragistrar website.

      Reply

      Administrator,
      Buyback closing date may please be corrected as 28/3 against 18/3 as noted in the particulars of the buyback.

      Reply

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