- October 16, 2018
- Posted by: Umesh Paliwal
- Category: News
Board of COCHIN SHIPYARD has Approved a Buyback for purchase by the Company of its own fully paid equity shares of Rs.10/- each (“Equity Shares”) not exceeding 43,95,610 equity shares representing 3.23% of the total outstanding number of equity shares in the paid-up share capital of the Company) at a price of Rs. 455/– per equity share (“Buyback Offer Price”) for Rs. 200,00,02,550 /.
Acceptance Ratio Calculation
a) No. of Shares Offered= 43,95,610
b) Price= Rs. 455
c) Total Amount =200 Cr
d) A Retail investor can buy 440 Shares( 2lakh/455) to participate in the buyback.
e) As per Mar 18, the number of investors having shares between 1-500 are close to ~73 Lakh.
f) The No. of Shares reserved for Retail Investor in Cochin Buyback is close ~6.60 Lakh.
g) As per the above figure, the Acceptance Ratio would be close to 9%