Weizmann Forex Limited BuyBack offer June 2018

(i) Weizmann Forex is a part of the INR 45 billion Weizmann Group, with business interests in textile manufacturing and exports, hydro and wind-power generation, as well as foreign exchange transactions and inward money transfer.
Weizmann began its forex operations in 1993 with just four branches and over the years, have grown exponentially to become a leading player in the foreign exchange and remittance market.

(ii) The company has a pan-India network of over three hundred locations. The considerable size, together with meticulous track-record on compliance, has resulted in Weizmann Forex being upgraded by the Reserve Bank of India from Full Fledged Money Changer to the status of Authorized Dealer – Category II.

(iii) Weizmann Forex  focused on customer satisfaction striving towards the highest international standards in the wide range of products and services we offer
1. Foreign Currency Demand Draft (DD) and Telegraphic Transfer (TT)
2. Co-branded International Pre-Paid Travel cards, Travellers’ Cheques
3. Import and Export of Foreign Currency
4. Western Union In-bound Money Transfer
5. Facilitating remittances for trade-related imports through Western Union Business Solutions
6. Western Union Domestic Money Transfer
7. Mobile and DTH Recharge
8. Travel Insurance
9. Tours and Travel, including International and Domestic Air Tickets, and Customised Holiday Packages.

Buy Back Offer Deal:

Buyback Type: Tender Offer
Buyback Record Date: Aug 16 2018
Buyback Opening Date: Oct 03 2018
Buyback Closing Date: Oct 16 2018
Buyback Offer Amount: ₹ 30.64 Cr
Date of Board Meeting approving the proposal: Jun 04 2018
Date of Public Announcement: Jun 04 2018
Buyback Offer Size: 3.77%
Buyback Number of Shares: 436,467
FV: 10
Buyback Price: ₹ 702 Per Equity Share

Details of Buyback:

Proposal for the Company to Buyback 436,467  fully paid up equity shares of face value of INR 10 (Indian Rupees Ten) each ("Equity Shares") representing 3.77 % of the total number of outstanding equity shares of the Company, at a price of INR 702.00 per Equity Share, for an aggregate amount of INR 30.64 Crores .

How to Participate in buyback?

1. Firstly to be eligible for the buyback the investor should have shares of Weizmann Forex Limited Buyback in demat or physical form as on Record date 18.08.2018. 2. Once you have shares in demat, you can participate in the buyback process which is opening from [03.10.2018 to 16.10.2018] by selling your shares through your broker on NSE or BSE. 3. Then on [29.10.2018] 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:

Weizmann Forex Limited Buyback offer calculation for investment of Rs 2,00,000 @ 508.7 per share
% Share Accepted No of Shared Accepted Gain from Buyback Offer
33% 129 Rs 25,026
50% 194 Rs 38,121
75% 294 Rs  57,181
100% 393 Rs 76,242

Recommendation:

Review and Recommendation of Weizmann Forex Limited BuyBack from InvestorZone is: 05/10 1-5: Fair 5-7: Good 7-10: Excellent Final Acceptance Ratio

Registrar Contact Details:

Bigshare Services Pvt. Ltd. 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai - 400059, Maharashtra Website: www.bigshareonline.com

Company Contact Details:

Weizmann Forex Limited 192, 2nd floor, Kitab Mahal, Dr D.N. Road, Fort, Mumbai - 400 001 Phone No. 022 - 62121501/022 46112500 Email ID : customercare@weizmannforex.com

16 Comments

    I have a little doubt here. As total buyback no. of shares are 436,467. While bidding subscription details shows retail portion subscribed for 30,66,648 shares. So, acceptance ratio should be 436467/3066648 (Approx. 16-17%).

    Reply

      You are confused with Individual and Retail Category.

      Individual Category means any Individual holding shares from 0 to n.

      if n in Weizman case is 393( 200000/507), then it will be treated as Retail Category.

      If n> 393 then it will be treated under the General category.

      General category includes( Individuals holding shares worth > Rs. 2 lakh, Promoters, MFs Institutions etc..)

      Hope it is clear now.

      Reply

        What you want Krishnat bro? What is the thing u didn’t understand?

        Reply

        I want know how we decided retail shareholder. In first case 200000/702 or in second case closing price on record divide to 200000

        Reply

        In general how decide retail category in any share .Now I have just dial shares on 450 RS and quantity 250 .now just dial buyback price 800 per share so 200000/800=250 shares. Or on record date closing price was 485 then number share increase then tell me how to decide retail category in any buyback offer

        Reply

          If the price of Just Dial on Record date was 485 then , to be eligible under Retail category is divide 200000/485=412.. So anybody holding below 412 will be entitled under Retail category..

          Reply

    The buyback is proposed to be made from all Equity shareholders as on Record Date of 18.08.2018 on
    a proportional basis through the ‘Tender Offer’ route.

    Reply

    The Financial performance of FY18 is summarized below
    1. Revenue growth of 28% as compared to the last year.
    2. PAT growth of 47% as compared to the last year.
    3. The EPS for FY18 was at 28.
    4. The P/E stands at 19 Current Market Price of 536.

    Reply

    Record date for the purpose of Buyback of Equity Shares. is 18 August 2018.

    Reply

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