Rajoo Engineers Limited Buyback
Rajoo Engineers Buyback 2023
Tender Offer
₹210.00
Buyback price per shareAbout Rajoo Engineers Limited Buyback
Incorporated in 1986, Rajoo Engineers Limited designs and manufactures blown film lines, sheet lines, and thermoformers.
The company's product portfolio includes Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two extruder 3 layer ABA blown film line, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules, and Single and twin screw extrusion system.
The company's manufacturing unit is located in Veraval (Shapar), in the district of Rajkot, Gujarat. Rajoo Engineers employs over 312 employees as of December 31, 2023.
Awards and accolades:
In 2003, the company was awarded an Export Excellence Certificate from the Engineering Export Promotion Council of India in recognition of the highest exports during the year as well as launched Asia's highest output 3-layer blown film line with stack die(UCD) during Plastindia.
Awarded with GUJARAT GAURAV AWARD for its outstanding contributions to the plastic industry in 2004.
In 2013, Mr. C. N. Doshi, Mentor of Rajoo Engineers was awarded a Lifetime Achievement Award in recognition of his contribution to innovation in the plastics processing machinery segment and to the global plastic fraternity, the company also developed Asia's first-ever smallest 5-layeVeravalr sheet line, displayed at K-germany & awarded by IPMMI.
Rajoo Engineers Limited Buyback Details
Security Name
Rajoo Engineers LimitedBuyback Price
₹210.00Face Value
₹1.00Listing at Group
BSELead Manager
GYR Capital Advisors Private LimitedBuyback Docs
Letter Of OfferIssue Size
942,300 (1.53 % of Total number of equity Shares)Rajoo Engineers Buyback 2023 Issue Timetable
| Last Date to buy shares | Record Date | Offer Opens On | Offer Closes On * |
| Jan 30, 2024 | Jan 31, 2024 | Feb 6, 2024 | Feb 12, 2024 |
| Last Date for receipt of Tender Forms | Finalisation of Buyback Acceptance | Last Date for settlement of bids | Last Date for Extinguishment of Shares |
| Feb 12, 2024 | Feb 16, 2024 | Feb 20, 2024 | Feb 29, 2024 |
Rajoo Engineers Limited Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
| Reserved Category for Small Shareholders | 2/47 | 141345 |
| General Category for all other Eligible Shareholders | 2/47 | 800955 |
Company Financials All values are in ₹ Cr.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|
| Reserves And Surplus | -- | -- | -- |
| Total Assets | 173.85 | 147.72 | 146.14 |
| Net Worth | 217.86 | 93.27 | 78.48 |
| Profit After Tax | 10.02 | 14.80 | 10.40 |
| Total Revenue | 162.58 | 174.99 | 152.83 |
| Total Borrowing | 1.52 | 0.28 | 3.09 |
How to Participate in Rajoo Engineers Limited Buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Rajoo Engineers Limited Buyback in Demat or physical form as on the record date Jan 31, 2024.
2. Once you have shares in Demat, you can participate in the buyback process which is opening from Feb 6, 2024 by selling your shares through your broker on BSE.
3. Then on Feb 29, 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 Rajoo Engineers Limited Buyback
Maximum market value of a share holder as on record date | ₹200,000.00 |
Buyback price per share | ₹210.00 |
Maximum share for small shareholders (200000/ 210) | 952.38 share |
Closing price of stock as of 2023-09-29 | ₹166.45 |
Maximum amount insted in buyback (₹166.45 x 952.3809523809524 shares) | ₹158,523.81 |
* No. of shares stands to change according to the closing price on the record date
* For simplicity, we have considered the price on date Sep 29, 2023
Expected Profit from the Rajoo Engineers Limited Buyback on the bases of acceptance Ratio:
Acceptance Ratio | 33% | 50% | 75% | 100% |
Amount Invested in Buyback | ₹158,523.81 | ₹158,523.81 | ₹158,523.81 | ₹158,523.81 |
No. of Shares Buyback | 314 | 476 | 714 | 952 |
Buyback Profit | 13674 | 20729 | 31094 | 41459 |
Profit% | 8.63% | 13.08% | 19.61% | 26.15% |
Rajoo Engineers Limited Buyback - Necessity of the Objective
Buyback is being undertaken, inter-alia, for the following reasons:
The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby enhancing the overall return to shareholders;
The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve allocation of a number of shares as per their entitlement or 15% of the number of shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as Small Shareholders as per Regulation 2(i)(n) of the SEBI Buyback Regulations;
The Buyback may help in improving return on equity, by reducing the equity base, thereby leading to a long-term increase in shareholders' value;
The Buyback gives an option to the Shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
Optimizes the capital structure.
Rajoo Engineers Limited Buyback
Rajoo Avenue Survey No. 210, Plot No. 1, Industrial Area, Veraval (Shapar), Dist-Rajkot - 360 024.Email: rel@rajoo.com
Phone: +91 97129 62704
Website: https://www.rajoo.com/index.html
Link Intime India Private Ltd
Email: rajooengineers.buyback2024@linkintime.co.in
Phone: +91-22-4918 6270
Website: https://linkintime.co.in/initial_offer/public-issues.html
