Symphony Ltd Buyback 2023

i. Symphony, an Indian multinational company with offices in more than 60 countries, makes more air coolers than any other company in the world. Symphony is a market leader that has been providing comfort cooling to its customers for generations. From inventions to innovations, being responsible with energy to taking care of the environment, Symphony has done it all.

ii. Symphony coolers are so popular in homes, businesses, and factories that the word “cooling” has become synonymous with the brand.

iii. Symphony Limited was started in 1988 in Gujarat, India. It created a new type of evaporative air-cooling in India and took it all over the world. As a disruptor in a very unorganised industry, the company has set high standards by defining the golden standard of air cooling.


Buy Back Offer Deal:

Buyback Type: Tender Offer
Buyback Record Date: Mar 29 2023
Buyback Opening Date: May 03 2023
Buyback Closing Date: May 17 2023
Buyback Offer Amount: ₹ 200 Cr
Date of Board Meeting approving the proposal: Feb 08 2023
Date of Public Announcement: Feb 08 2023
Buyback Offer Size: 1.42%
Buyback Number of Shares: 10,00,000
Price Type: Tender offer
FV: 2
Buyback Price: ₹ 2000 Per Equity Share

Details of Buyback:

The proposal to buyback not exceeding 10,00,000 (Ten Lakh) equity shares of face value of Rs. 2 of the Company (representing 1.43% of the total number of equity shares in the paid-up share capital of the Company) at a price of ~ 2,000 (Rupees Two Thousand Only) per equity share payable in cash for an aggregate consideration not exceeding 200,00,00,000 Cr (Rupees Two Hundred Crore Only).

Salient financial parameters:

Particluars (in cr) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Sales 798 844 1,103 900 1,039
Expenses 579 711 889 759 877
Operating Profit 220 133 213 140 162
OPM % 28% 16% 19% 16% 16%
Other Income 54 15 51 24 40
Interest 2 8 13 12 10
Depreciation 7 10 21 21 24
Profit before tax 265 130 230 131 168
Tax % 27% 30% 21% 18% 28%
Net Profit 193 92 182 107 121
EPS in Rs 27.52 13.19 25.94 15.34 17.2

How to Participate in buyback?

1. Firstly, to be eligible for the buyback the investor should have shares of Symphony Limited 2023 in  Demat or physical form as on the record date [29.03.2023]
2. Once you have shares in Demat, you can participate in the buyback process which is opening from [03.05.2023 to 17.05.2023] by selling your shares through your broker on NSE or BSE.
3. Then on [26.05.2023], 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 100 Shares at CMP of Rs. 1,050 (2,00,000/2,000)
Acceptance Ratio 33% 50% 75% 100%
Amount Invested in Buyback 1,05,000 1,05,000 1,05,000 1,05,000
No. of Shares Buyback 33 50 75 100
Buyback Profit 31,350 47,500 71,250 95,000
Profit % 29.80% 45.20% 67.80% 90.40%


    In Retail quota

    6,41,112 shares bids out of approx 13 lakh shares.



      Thank you Umesh Ji for a very valuable information. Thousands of clever people who have invested just about ₹ 1000/ made about ₹ 900/+ in about 3 months. What a funny buyback rule!

      As expected AR close to ER
      Due to single single shares acceptance.
      Mine single accepted.

      Yes, AR is about 12.65% for me, 21 out of 166 were accepted, very bad acceptance ratio and price is down by 20% as well, another big loss for me

        16/143. A very very disappointing AR. Significant loss may be there.

    Live bidding on BSE

    65,10,715 shares @ 10.30 am 17/5/23.

    Only 65 lkh bids out of approximately 6.5-7cr shares.

      Last updated on 17 May 2023 02:15 PM
      BSE Bid Details
      Price No. of Confirmed Quantity Cumulative Confirmed Quantity
      Bids Demat Physical Total Demat Physical Total
      2,000.00 95,460 73,19,251 – 73,19,251 73,19,251 – 73,19,251

        At 02:15, the total no. of shares tendered for the buyback is 73,19,251 against the admissible 10,00,000 shares I.e., almost 7.32 times. Let’s wait for the closing figures to assess the approximate AR. THANK YOU.

          7.34 times in all at the close. AR may be around 25% in my opinion. I am not an expert. Experts may please offer their views in this regard.

            Hi Shiva, thanks for update, 7.34 times is overall or retail category?

              Overall 7.34 times. Not available in respect of Retail Category separately. In the BSE website.

            Sir, where do you check? Can you share the link? Check the status for Welspun as well please


        Welspun buyback bidding status today

        No of orders 17,355
        No of shares 9,98,81,612

    My holding on record date was 56 and later sold 51 of them around 1040/-. Present holding is exactly same as total entitlement. Now I am totally confused whether should go with 56 shares or 5 shares. Please guide keeping 1 share strategy in mind. Thanks in advance

      It is suggested to tender all the shares held on the Record Date to get the maximum AR as the AR will normally be more than the Entitlement Ratio. All the best.

    1 share strategy will still work despite entitlement is zero in offer letter??

      I dont think 1 share strategy will be work as total share reserve for retail category is 150000 and will not left sufficient share to all shareholder who hold 1 share. almost more than 50k shareholder hold 1 share.

      If fractional Acceptance is less than 0.50 then the fraction shall be ignored.

        One share strategy should work. It actually depends on the number of applications received for buyback from retail shareholders. As per BSE website the number of retail shareholders are 131001.

          This will be a test case to learn how the one share strategy works as the buy back price was almost double compared to the market price almost through out. All the best for all single share holders.

    15/156 share.. ER is around 9.6 percent.. any one has idea about possible AR?

      AR will be Close to ER as
      Single single share holders counts almost 70,000-85000 in latest share holding pattern.

        Do you mean to say that after accepting as per the E R smallest share holders ( single share) tender will be accepted?. Will be interested to know so as to avoid high priced and wide margin buyback participation can be avoided.

    Symphony got sebi approval for buyback. We get Entitlement ratio mail soon.
    In 5 working days from 21 april.

      Sebi website showing still pending on dated 21 april.
      Upcomming Monday we get know current status.
      Hope we get LoF next week.

        Team lease buyback
        Expected ER 8-12%

        AR close to ER as single share holders increased too much now days.

    Resident Individuals holding nominal share capital up to Rs. 2 lakhs
    shareholders – 131001 no of share- 4085697.
    If one share strategy works here, acceptance ratio might be in single digit. E/R might be 1.5%.


      If all above prices are reached even though we will make 2.5% profit .if go below 820 then this profit may get reduced.

      Umesh ji one of my friend has 110 symphony shares .He falls in retail or general.

      Total no of shares held on record date multiply with record date closing price .
      If it is below 2.o lac then retail and if above 2.0 lac then he is not come in retail

    Ajanta Pharma Board to consider buyback of shares on 10 March

        Yes, that is the Irony, the current share has run too much and still running fast…. Lets see now elcerx

    The offer size is only 1.43% and not 24.76% as written above.
    1.5 % and 25% are very different and can lead to various incorrect decisions.
    None would like to buyback in 1.5% while all should buy for 25%..
    Its better for investor zone to be carful to retain its credibility.

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