At Natco Pharma meeting on March 8, 2023, the company’s board of directors approved a plan to repurchase up to 30,000,000 fully paid-up equity shares with a face value of Rs.2/- each (equal to 1.64 percent of the total number of equity shares in the paid-up equity share capital of the Company) for a total of Rs.210 Crore Only. Natco Pharma Limited Buyback 2023 offer has already been started from 21st March 2023 and it closes on 20th September 2023.
Established in 1981 with an initial capital investment of INR 3.3 million, Natco Pharma Limited is a pharmaceutical company with its headquarters in Hyderabad. Natco has expanded from its humble beginnings as a single unit with 20 personnel to seven production facilities across India, each equipped with modern research laboratories, New Drug Development capabilities, etc. There are currently over 4000 people working for the Natco family, and the company is frequently listed as one of India’s fastest growing pharmaceutical enterprises. Natco’s pharmaceutical research and development is often regarded as cutting edge.
Natco Pharma Buyback 2023 – Offer Details
| Offer Type | Open Market |
| Record Date | Open market through stock exchange |
| Buyback Starts | March 21, 2023 |
| Buyback Ends | September 20, 2023 |
| Number of Shares | 30,00,000 Equity Share |
| Face Value | Rs. 2/- |
| Buyback Price | Rs. 700 per equity shares |
| Maximum Buyback Size | Rs. 210 Crore |
| Last date for the extinguishment of equity | Within 7 Working Days of the expiry of the Buyback period |
| Broker of the company | DAM Capital Advisors Limited |
| Designated Stock Exchange | NSE, BSE |
Natco Pharma Buyback 2023 – Necessity of the Buyback
According to the company, the following are the key objectives of this buyback:-
- As a result of the Buyback, the Company will be able to distribute its excess cash to the holders of its Equity Shares.
- The Buyback’s potential to reduce the equity base and boost ROE is twofold.
- Shareholders who own Equity Shares of the Company have the choice of participating in the Buyback and receiving cash in exchange for their shares, or opting out and seeing their percentage of ownership in the Company increase as a result of the Buyback offer.
Natco Pharma Buyback – Shareholding Pattern
Click here to see the shareholding pattern of Natco Pharma.
Natco Pharma Buyback – Company Financials
Click to see the consolidated and standalone financial report of the company.
Natco Pharma Buyback 2023 – Manager of the Buyback
Manager to this buyback offer by Natco Pharma is Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
Natco Pharma Buyback 2023 – Registrar of the Buyback
Registrar to this buyback offer by Natco Pharma is Venture Capital And Corporate Investments Pvt Ltd
Natco Pharma Buyback 2023 – Letter of Offer
Click here to read the letter of offer of this buyback offer by Natco Pharma.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
