Symphony Limited Buyback
Symphony Limited Buyback 2024
Tender Offer
₹2,500.00
Buyback price per shareAbout Symphony Limited Buyback
Symphony Limited is an Indian multinational company and the world's largest manufacturer of air coolers. The company's product portfolio includes Household Coolers, Commercial Coolers, Large Space Venti-Coolers, and Tower Fans. The company has offices in more than 60 countries. Symphony Limited was founded in 1988 in Gujarat, India. It introduced a new type of evaporative air cooling in India and expanded its innovation globally.
Read MoreSymphony Limited Buyback Details
Security Name
Symphony LimitedBuyback Price
₹2,500.00Face Value
₹2.00Listing at Group
BSE, NSELead Manager
Buyback Docs
Letter Of OfferIssue Size
285,600 (9.33 % of Total number of equity Shares)Symphony Limited Buyback 2024 Issue Timetable
| Last Date to buy shares | Record Date | Offer Opens On | Offer Closes On * |
| Aug 20, 2024 | Aug 21, 2024 | Aug 27, 2024 | Sep 2, 2024 |
| Last Date for receipt of Tender Forms | Finalisation of Buyback Acceptance | Last Date for settlement of bids | Last Date for Extinguishment of Shares |
| Sep 2, 2024 | Sep 6, 2024 | Sep 9, 2024 | Sep 19, 2024 |
Symphony Limited Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
| Reserved Category for Small Shareholders | 10/421 | 42840 |
| General Category for all other Eligible Shareholders | 3/830 | 242760 |
Company Financials All values are in ₹ Cr.
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|
| Total Assets | 1,217.65 | 1,403.38 | 1,367.15 |
| Profit After Tax | 148.13 | 115.88 | 120.86 |
| Net Worth | -- | -- | -- |
| Reserves And Surplus | -- | -- | -- |
| Total Borrowing | -- | -- | -- |
| Total Revenue | 1,206.8 | 1,237.79 | 1,079.01 |
How to Participate in Symphony Limited Buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Symphony Limited Buyback in Demat or physical form as on the record date Aug 21, 2024.
2. Once you have shares in Demat, you can participate in the buyback process which is opening from Aug 27, 2024 by selling your shares through your broker on BSE, NSE.
3. Then on Sep 19, 2024, the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Calculation of Investment in Symphony Limited Buyback
Maximum market value of a share holder as on record date | ₹200,000.00 |
Buyback price per share | ₹2,500.00 |
Maximum share for small shareholders (200000/ 2500) | 80.00 share |
Closing price of stock as of 2024-08-06 | ₹1,463.20 |
Maximum amount insted in buyback (₹1,463.20 x 80 shares) | ₹117,056.00 |
* No. of shares stands to change according to the closing price on the record date
* For simplicity, we have considered the price on date Aug 6, 2024
Expected Profit from the Symphony Limited Buyback on the bases of acceptance Ratio:
Acceptance Ratio | 33% | 50% | 75% | 100% |
Amount Invested in Buyback | ₹117,056.00 | ₹117,056.00 | ₹117,056.00 | ₹117,056.00 |
No. of Shares Buyback | 26 | 40 | 60 | 80 |
Buyback Profit | 26956 | 41472 | 62208 | 82944 |
Profit% | 23.03% | 35.43% | 53.14% | 70.86% |
Symphony Limited Buyback - Necessity of the Objective
The buyback will help the company to return the surplus cash to its shareholders holding equity shares.
The buyback is expected to improve return on equity through the distribution of cash and improve earnings per share by reducing the equity base; thereby increasing the long-term shareholder's value.
The buyback gives an option to the shareholders holding equity shares of the company, either to sell their equity shares and receive cash or not to sell their equity shares and get a resultant increase in their percentage shareholding, post the buyback offer, without additional investment.
The buyback, which is being implemented through the tender offer as prescribed under the buyback regulations, would involve a minimum reservation of 15% for small shareholders and allocation of a higher number of shares as per their entitlement or 15% of the number of shares to be bought back, reserved for the small shareholders. The company believes that this reservation for small shareholders would benefit many public shareholders, who would be classified as small shareholders.
Symphony Limited Buyback
Symphony House, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059Email: companysecretary@symphonylimited.com
Phone: +91-79-66211111
Website: https://symphonylimited.com/
Link Intime India Private Ltd
Email: symphony.buyback2024@linkintime.co.in
Phone: +91-22-4918 6270
Website: https://linkintime.co.in/initial_offer/public-issues.html
