22-Nov-2023
2 mins read
Atul Limited has got final approval from its board to propose a buyback offer of (yet to be announced) equity shares (representing (yet to be announced) of the total number of equity shares in the paid-up share capital of the Company) through the tender offer route. The buyback amount is Rs 50.00 Crores and the buyback price is Rs 7500 per equity share.
Atul Limited Company’s Profile
Established in 1947, Atul Limited emerged as a pioneer in manufacturing Life Science Chemicals and Performance and Other Chemicals in India. An inauguration on March 17, 1952, by Pt. Jawaharlal Nehru, India’s first Prime Minister, marked its significant milestone.
Scale and Operations: With a workforce exceeding 3,000 employees, over 3,800 suppliers, and an extensive network of 2,000 distributors and 38,000 retailers, Atul Ltd stands as a prominent entity. The company boasts a diverse portfolio of more than 1,300 products, including formations, underlining its presence with 140 distinct brands.
Manufacturing Facilities: Atul Ltd strategically houses its manufacturing facilities in Ankleshwar, Atul, Panoli, and Tarapur, alongside subsidiaries in India (Ambernath and Atul) and the UK (Bristol). Additionally, joint venture companies contribute to its manufacturing prowess in India (Atul and Jodhpur).
Product Range and Industries Served: Catering to an extensive spectrum of industries, Atul Ltd manufactures chemicals spanning various sectors, such as automotive, pharmaceuticals, textiles, cosmetics, agriculture, and more. The company’s products find application in areas like construction, renewable energy, adhesives, paints, and personal care.
Global Presence: Operating across continents, Atul Ltd extends its reach through wholly-owned subsidiaries in Brazil, China, Ireland, the United Arab Emirates, the United Kingdom, and the USA. This expansive global footprint positions the company to serve a diverse clientele, numbering over 4,000 customers spanning 83 countries.
Important Details for Atul Limited Buyback 2023
| Issue Period | November 21, 2023 – February 23, 2024 |
| Security Name | Atul Limited |
| Issue Type | Open Market Through Stock Exchange |
| Issue Size (Amount) | Rs 50.00 Crores |
| Buyback Price | Rs 7500 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE, NSE |
Lead managers for Atul Limited Buyback
The Lead manager of the Atul Limited Buyback is Vivro Financial Services Private Limited.
Registrar of the Atul Limited Buyback
Registrar of the Atul Limited Buyback is Link Intime India Private Ltd.
Atul Limited Financial Information (Consolidated Rs in Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 |
| Assets | 5,430.90 | 5,350.63 | 6.31 | 6.4 |
| Revenue | 5,261.22 | 5,082.82 | 36.16 | 39.83 |
| Profit After Tax | 552.15 | 607.53 | 45.87 | 38.49 |
FAQs
- What is the buyback price per share?
The buyback price per equity share is Rs 7500.
- How many shares are being purchased in the buyback?
Atul Limited will buy back (yet to be announced) equity shares, which represents (yet to be announced) of the total number of equity shares in the company’s paid-up share capital.
- How much is the total amount allocated for the buyback?
The total buyback amount is Rs 50.00 Crores.
- How will the buyback process take place?
The buyback will be conducted through the Open Market route through Stock Exchange. Shareholders who wish to participate can tender (offer) their shares at the buyback price of Rs 7500 per share.
- What is the face value of Atul Limited’s shares?
The face value of the company’s shares is Rs 10 per share.
- Is it mandatory for shareholders to participate in the buyback?
No, participation in the buyback is entirely voluntary. Shareholders can choose whether or not to tender their shares in the buyback offer.