PBM Polytex Limited has announced the buyback of 12,50,000 equity shares from the shareholders at a price of Rs 80 per equity share. The record date for this buyback offer is 8th March 2019. PBM Polytex Buyback 2019 offer starts on 11th April 2019 and it closes on 7th May 2019. The board meeting of the company was held on 21st February 2019. in which this buyback was approved by the board of directors. The last date for the extinguishment of equity shares is scheduled as 15th May 2019.
PBM Polytex Limited is a Gujarat Based company incorporated in the year 1919. This company is engaged in the manufacturing of 100% cotton yarn which is sold indigenously as well as in the export market. It owns two modernized spinning mills (one located at District Anand, Gujarat and another located at District Chhindwara, Madhya Pradesh). The company also generates electricity through Wind Mills and owns 4 Wind Mills located in the state of Gujarat. The Equity Shares of the Company are listed and traded on BSE Limited.
PBM Polytex Buyback 2019 – Offer Details
| Offer Type | Buyback of Fully Paid-up Equity Shares |
|---|---|
| Record Date | 8th March 2019 |
| Buyback Starts | 11th April 2019 |
| Buyback Ends | 7th May 2019 |
| Number of Shares | 12,50,000 Equity Shares |
| Face Value | Rs 10/- |
| Buyback Price | Rs 80 Per Equity Share |
| Maximum Buyback Size | Rs 10 Crore |
| last Date for the Extinguishment of Equity Shares | 15th May 2019 |
| Broker of the Company | Pravin Ratilal Share and Stock Brokers Limited |
| Designated Stock Exchange | BSE |
PBM Polytex Buyback 2019 – Necessity of the Buyback
According to the company, the following are the key objectives of this buyback:-
- To distribute surplus cash to the shareholders in order to enhance the overall return to shareholders.
- To benefit the small shareholders through a reservation of up to 15% for them in this buyback.
- It will improve the financial ratios such as earning per share and return on equity.
- It gives the options to the shareholders that either participate in the buyback offer and get cash in lieu of shares or do not participate in the buyback offer and avail the increased rates of shares.
PBM Polytex Limited – Shareholding Pattern
Click here to see the shareholding pattern of PBM Polytex Limited.
PBM Polytex Limited – Company Financials
Click to see the consolidated and standalone financial report of the company.
PBM Polytex Buyback 2019 – Manager of the Buyback
Manager to this buyback offer by PBM Polytex Limited is Vivro Financial Services Private Limited.
PBM Polytex Buyback 2019 – Registrar of the Buyback
Registrar to this buyback offer by PBM Polytex Limited is Link Intime India Private Limited.
PBM Polytex Buyback 2019 – Letter of Offer
Click here to read the letter of offer of this buyback offer by PBM Polytex Limited.
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Tags: PBM Polytex Limited, Buyback 2019
