Triveni Engineering & Industries Limited Buyback 2020
Triveni Engineering & Industries Limited is a focused, growing corporation having core competencies in the areas of sugar and engineering. The Company is one of the largest sugar manufacturers in India and the market leader in its engineering businesses comprising high-speed gears, gearboxes, and water treatment solutions.
With 7 sugar mills, 6 co-generation units, and 1 distillery spread over 8 locations in Uttar Pradesh, we progressively engage with over 250,000 farmers through our cane marketing and development programs.
As the largest Indian manufacturer of high-speed and niche low-speed gears and gearboxes, Triveni commands a dominant market share in the gears market in the region. As a focussed player in the water treatment domain, we offer end-to-end services & product mix in the technology spectrum of water and wastewater treatment. We have dedicated manufacturing and R&D unit each for Gear and Water Treatment Applications at Mysore and Noida respectively.
The two major business segments – sugar and engineering – are mutually exclusive in terms of growth factors and the environment. The sugar business is immune to the upheavals in the global economy, and is dependent only on the sugar cycle. Our engineering businesses cater to the two most critical industries – power and water.
Buy Back Offer Deal:
| Buyback Type: | Tender |
| Buyback Record Date: | Aug 28 2020 |
| Buyback Opening Date: | Oct 05 2020 |
| Buyback Closing Date: | Oct 16 2020 |
| Buyback Offer Amount: | ₹ 65 Cr |
| Date of Board Meeting approving the proposal: | Aug 10 2020 |
| Date of Public Announcement: | Aug 10 2020 |
| Buyback Offer Size: | 2.50% |
| Buyback Number of Shares: | 61,90,000 |
| Price Type: | Tender |
| FV: | 1 |
| Buyback Price: | ₹ 105 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars(in Cr) | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 |
| Sales | 2,061 | 1,915 | 2,824 | 3,370 | 3,152 | 4,437 |
| Expenses | 2,079 | 1,790 | 2,302 | 3,094 | 2,842 | 3,893 |
| Operating Profit | -18 | 125 | 522 | 276 | 309 | 543 |
| OPM % | -1% | 7% | 18% | 8% | 10% | 12% |
| Other Income | 30 | 42 | -36 | 33 | 83 | 57 |
| Interest | 122 | 115 | 127 | 85 | 68 | 79 |
| Depreciation | 59 | 59 | 57 | 55 | 57 | 75 |
| Profit before tax | -169 | -7 | 302 | 169 | 268 | 446 |
| Tax % | 10% | 1% | 16% | 29% | 19% | |
| Net Profit | -152 | -7 | 253 | 119 | 216 | 335 |
| EPS in Rs | 0 | 0 | 9.81 | 4.62 | 8.38 | 13.37 |
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 | 1,37,142 | 1,37,142 | 1,37,142 | 1,37,142 |
| No. of Shares buyback | 628 | 952 | 1428 | 1904 |
| BuyBack Profit | 20724 | 31416 | 47124 | 62832 |
| Profit | 15% | 22.9% | 35% | 45% |
Recommendation:
47 Comments
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what is ratio of nmdc in 2019
i have bought 200 shares before record date and 42 shares accepted in buyback and remaining shares got rejected back into my dmat account. i did not receive money for the accepted 42 shares till now…when the settlement is going to happen, please reply back if anyone having an idea on this.
did anyone got settlement for the shares accepted in buyback?
Acceptance – 21.42%
450/2100
Final Bid:- 13,00,49,961 (At Closure of Bid Timing on 16-10-2020)
Subscription:- 21.01 x
It is for all including promoters…
so retail may be lesser..
As Of 13/10/20 (3 days remaining )
Poor AR Expected .
Total Bids (Confirmed+Pending):- 70771784
Subscription:- Near about 11.5x
Hello Market watch / other learned members
I had bought 200 shares before record date and sold 150 afterwards at very slight profit.
Now I have received letter for entitlement of 12. I fell that all 50 would be bought back (25%). What do you suggest?
Should I sell some more at (10%) profit now or surrender in Buyback only?
Request your kind advice
The price will stay at this range of 67-75 until until october end as the market will continue to be volatile within this levels .So,you can tender all 50 and sell the remaining unaccepted part at a slight profit (hopefully) after its refunded.
Thanks for advice.
I believe final acceptance ratio should come 20-25%
Triveni Buyback dates declared:-
Tender Period:- 5th Oct. ’20-16th Oct. ’20
Settlement (Payment & Shares Refund) :- 27 Oct. ’20
Entitlement %:- 6.38%
Please add Dhanuka Agri. Last date to buy tomorrow
Dhanuka Agri last date to buy was today 24 sep…. tomorrow is ex date .So if you buy on 25 sep you will not be eligible for buyback due to t2 settlement as 28 sep is record date.
How much acceptance in dhanuka and rites sir?
RITES, I believe should be 90-100% for retal..
Marketwatch can comment please..
Please be patient the record date(30 Sept.’20) for rites has not passed yet .The entire process takes more than 2 months .
dhanuka around 50-75 % as can be seen from there previous buybacks and as for rites its complicated and will depend on the volatility in the share till the buyback tender date is announced.
Dhanuka Agritech Buyback Tender Dates Announced .
Any idea of opening date?
Also please add RITES.
When it will available for bidding..any dates announced.not able to see in brocker ac
Buy 1904 Shares at CMP of Rs. 72 [2,00,000/105=1904) was incorrect .
one could buy about 2500 shares to take part in buyback
This is the general calculation to avoid the change of status of the investor from Retail to HNI, in case the price goes above 105.
Sir please add rites and dhanuka agritech
It is advisable to buy for buy back at current rate ? Just two days remaining for record date
It’s risky
Acceptance ration would be low
Around 15%
@MW
Please update about MPS Ltd. Buyback .
Type:- Tender Offer
Announcement Date:-11-Aug-20
Promoter Participation in Buyback- Yes
Record Date:- Friday, August 24, 2020
Buyback Size:- 5,66,666 Shares (3.04%)
Buyback Price:- Rs.600 /share .
MPS, Very poor Acceptance Ratio.
Should we invest now
It’s 80 now
Bit Risky . Enter it within the range of 75-77 at the most .Place AMO for tomorrow or keep it on your watchlist you will surely get it even lower than 75 (if you are lucky) before the record date just make sure to buy it before Aug 27
Do u see any reason for it to be going down
Fundamentally
Its strong fundamentally but if there is weakness in nifty and right now its in 75-77 zone so you can buy in dips of 0.5 – 1 points.
Please update about FDC Buyback .
Type:- Tender Offer
Announcement Date:-7-Aug-20
Promoter Participation in Buyback- Yes
Record Date:- Friday, August 21, 2020
Buyback Size:- 21,63,000 Shares (1.27%)
Buyback Price:- Rs.450 /share .
Okay. Will do.
The 2019 buyback was also very fast.
Announced – 03.06.2019, share price-76
Record date- 19.06.2019- 65
Ex-Date- 18.06.2019- 73
Unaccepted shares given back on 14.08.2019- Share price was 50.
Final AR was 33%.
Please confirm it is a tender offer??
Yes its a tender offer .
Triveni engineering board approved buyback at₹105
Aug 28 record date
Promoter Participation in Buyback- Yes
Record Date:- Friday, August 28, 2020
Buyback Size:- 61,90,000 Shares (2.50%)
Buyback Price:- Rs.105 /share .
2.5% is too low… Are you sure??
25% reserved for Retail i.e 0.625%
Current Retail holding 13%
If 30% apply in buyback…~ 4% would fight for 0.625
Acceptance ratio 15-16%
Yes 2.50% of the total paid-up equity share capital of the Company as on March
31, 2020 .There is strong upside from CMP due to good results YoY…though QoQ its a bit subdued due to the pandemic >
As Of Aug 7 ‘2020
Category of Shareholder—- No. of Shares —-% to the existing Equity
Share capital
Promoters and Promoter Group—- 169,462,677—- 68.35
Foreign Investors (Including Non-Resident Indians, FIls) —-9,146,448 —–3.69
Financial Institutions/Banks —–542,909 —-0.22
Mutual Funds—–8,535,027 —–3.44
Others (Public, Bodies Corporate etc.) ——60,258,049 —–24.30
Total ——– 247,945,110 —— 100.00
It seems to be very good company, with very high EPS.
Why the rates are so subdued?
Any info of rate of Buyback in todays meeting?
105₹ per share
Today it hits 20% circuit.
I guess people expecting buyback to be at Rs100 as last time around.
Board meeting on 10.08.2020 to consider buyback.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/AC270C1C-AB97-4C75-A2F7-FD2121070247-201525.pdf