Suprajit Engineering Buyback 2021
Born of Entrepreneurial spirit in 1985, Suprajit today has carved a niche for itself as a pioneer in the design and manufacture of Mechanical Control Cables and is recognized as India’s largest cable maker and worlds largest in the two-wheeler cable market. As a part of its Strategic expansion into Non-Automotive-Cables and Controls market Suprajit acquired Wescon Controls Inc USA in 2015 and had also diversified into Automotive Lighting business through acquisition of Phoenix Lamps Limited in 2014.
Head Quartered in Bangalore- India Suprajit has transitioned from a single product, single customer, single segment, single brand, single location company to a multi-product, multi-business, multi-customer, multi-brand, multi-location global company making it truly diversified without sacrificing its tenets on Quality, Cost, Delivery and Development. It is driven by its single-minded goal of “Customer Satisfaction” and in this pursuit of excellence it continues be recognised as “Value for Money Supplier” to customers across the spectrum.
The Suprajit Group is a global leader in the automotive cable and halogen bulb industry. With a competitive manufacturing base in India, UK, US and Mexico, along with our technical and logistical supports worldwide, the group provides the optimal product development and manufacturing solutions to its domestic and international customers. The Group comprises of Suprajit Engineering Limited (which includes Phoenix Lamps), Suprajit Automotive Limited, Suprajit Europe Limited, Wescon Controls LLC, and Suprajit Inc USA.
With a compounded annual growth of over 25+%, the group has one of the largest manufacturing capacities in world with 300+ million cables per year and 80+ million bulbs per year.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Feb 22 2021|
|Buyback Opening Date:||Apr 08 2021|
|Buyback Closing Date:||Apr 26 2021|
|Buyback Offer Amount:||₹ 48 Crores|
|Date of Board Meeting approving the proposal:||Feb 10 2021|
|Date of Public Announcement:||Feb 10 2021|
|Buyback Offer Size:||1.07%|
|Buyback Number of Shares:||1500000|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 320 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Particulars (in cr)||Mar-15||Mar-16||Mar-17||Mar-18||Mar-19||Mar-20|
|Profit before tax||75||123||164||193||205||133|
|EPS in Rs||4.19||5.48||8.66||9.9||9.57||7.43|
|Dividend Payout %||23%||19%||17%||14%||16%||24%|
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,53,125||1,53,125||1,53,125||1,53,125|
|No. of Shares buyback||206||313||469||625|
|Category of Shareholders||Ratio of Buyback|
|Reserved Category||3 Equity Shares out of every 82 fully paid-up Equity Shares held on the Record Date|
|General Category||4 Equity Shares out of every 441 fully paid-up Equity Shares held on the Record Date.|