22-Jul-2023
2 mins read
The board of BSE Ltd, one of India’s top stock exchanges, approved a share repurchase plan through a tender route on July 6th. This includes repurchasing nearly 4.59 million shares, equal to a 3.39% stake in the company’s total paid-up equity capital till March 31st, 2023. BSE is planning to allot Rs 374 crore for the share buyback.
All the shares will be bought back at Rs 816, a substantial premium of 34.09% more than the closing price of the equity shares, on June 30th, 2023, on the NSE, the day prior to the board meeting. Till last Thursday, the shares were valued at Rs 705.50 on the NSE.
Share repurchases, which can be achieved through tender offers or open market transactions, involve a company buying back a defined amount of its outstanding shares at a price higher than the current market rate.
BSE witnessed a 24% surge in net profit in Q4FY23, reaching Rs 88.61 crore, per the statement submitted to the NSE. This marked improvement from the Rs 71.52 crore reported in the corresponding quarter of the previous year.
Revenue generated from the operations for BSE rose by 11% to Rs 227.01 crore in the recent March quarter of 2023. The previous year’s revenue was Rs 204.59 crore.
However, the financial year 2022–23 witnessed a decline in its net profit by 16% to Rs 205.65 crore, down from Rs 244.93 crore in the previous fiscal year. The operation revenue witnessed a rise of 10% to Rs 815.53 crore in FY23, which was Rs 743.15 crore during the same period in the prior year.
Company Details
Established in 2005 and initially recognised as the Bombay Stock Exchange, BSE is the pioneer of stock exchanges in India, with a history stretching over a century. The organisation’s headquarters are stationed on Dalal Street in Mumbai.
The inception of BSE introduced numerous noteworthy adjustments and improvements to the Indian Securities Market, bringing it in line with global practices.
Premchand Roychand laid the foundation for the Bombay Stock Exchange in 1875. Now, after more than 125 years, BSE stands as one of the world’s largest stock exchanges in terms of Market Capitalization, and it was the first of its kind in Asia.
BSE Limited serves as the operator of the BSE Exchange (Bombay Stock Exchange), widely recognised as India’s biggest stock exchange based on the count of listed companies. Boasting a listing of over 5000 companies, BSE holds a record for the greatest number of listings on any single global exchange.
BSE facilitates trading across various financial instruments, including Equity, Debt Instruments, Derivatives, Mutual Funds, and SME Equity. Additionally, it provides services that span risk management, clearing, settlement, market data services, IT services and solutions, licensing index products like the S&P BSE SENSEX, and training for financial and capital markets.
BSE Limited Buyback 2023 Detail
| Issue Period | Yet to be announced |
| Security Name | BSE Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 4,593,137.00 |
| Issue Size (Amount) | Rs 374.80 Crores |
| Buyback Price | Rs 816 per share |
| Face Value | Rs 2 per share |
| Listing At | NSE |
Company Financials of BSE Limited Buyback (In Crore)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
| 31-Mar-22 | 6,185.40 | 863.53 | 244.93 |
| 31-Mar-23 | 5,993.81 | 953.94 | 205.65 |
How to Apply for BSE Limited Buyback
Wait for the buyback to open for subscription, then click on this link to apply for the BSE Limited Buyback with Bigul https://www.bonanzaonline.com/.
How to Check the Allotment Status of BSE Limited Buyback
The registrar for BSE Limited Buyback is yet to be announced.
FAQs
- What is the BSE Limited Buyback?
The BSE Limited Buyback is a program approved by the board of BSE Ltd, an eminent stock exchange in India, to repurchase approximately 4.59 million shares, which equates to a 3.39% stake in the company’s total paid-up equity capital. The share buyback will cost BSE around Rs 374 crore.
- What is the buyback price per share?
Each share will be bought back at Rs 816, a price that reflects a significant premium of 34.09% over the closing price on the NSE on June 30th, 2023.
- What is the issue type of BSE Limited Buyback?
The BSE Limited Buyback issue type is a Tender Offer.
- When is the issue period for the BSE Limited Buyback?
The issue period is yet to be announced.
- What is the face value of the shares?
The face value of the shares is Rs 2 per share.
- How can I apply for the BSE Limited Buyback?
Once the buyback opens for subscription, you can apply for the BSE Limited Buyback via this link: https://www.bonanzaonline.com/.
- How can I check the allotment status of the BSE Limited Buyback?
The registrar for the BSE Limited Buyback is yet to be announced. You should be able to check the allotment status once the registrar is confirmed and the buyback is open for subscription.
- What services does BSE Limited offer?
BSE Limited provides a wide range of services, including trading in various financial instruments, risk management, clearing, settlement, market data services, IT services and solutions, licensing index products, and training for financial and capital markets.