17-Feb-2024
2 mins read
Freshtrop Fruits Limited Buyback is a tender offer and the issue size is of 1,925,000 equity shares at a price of Rs 175 per share, amounting up to Rs 33.69 crores. The issue is 19.4% of the total number of equity shares. The face value is at Rs 10 per share. The buyback offer opens on April 8, 2024 and closes on April 16, 2024. The buyback ratio of the reserve category for small shareholders is 25 equity shares out of 84 fully paid up equity shares held on record date on April 2, 2024. The ratio for the other eligible shareholders are 11 equity shares out of every 60 fully paid up equity shares held on April 2, 2024. The lead manager handling the buyback is Vivro Financial Services Private Limited. Also, the registrar is Bigshare Services Private Limited. On wednesday, February 14, 2024, the share price of Freshtrop Fruits was quoting at Rs 162.90 per share.
About Freshtrop Fruits Limited
Freshtrop Fruits Limited is engaged in the business of supplying grapes and pomegranates from India to the supermarkets of Europe and Russia. Company operates majorly in two segments: Fresh fruits and Food processing. Freshtrop is a leading and consistent supplier of grapes and pomegranates from India to other countries like Europe and Russia. The company has also set up a food processing plant in Nasik, India for the production of fruit pulp such as mango and guava pulp, Tomato paste etc.
Necessity of the Freshtrop Fruits Buyback
This buyback will help in improving financial ratios like EPS, Return on assets and return on equity. Also the buyback will help the company to distribute the surplus funds to its shareholders holding equity shares in the proportion to their shareholding. Besides this, buyback will enhance the shareholders' value in the long term.
Financials of Freshtrop Fruits Limited (In crore)
Freshtrop Fruits Limited reported a revenue of Rs 69.87 crore and PAT of Rs 60.16 crore for the period ending on 31st December 2024. The company’s revenue increased by 68.7% and PAT increased by 15.05% between the FY ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Revenue | 69.87 | 107.89 | 63.95 | 44.8 |
| Profit After Tax | 60.16 | 8.46 | 7.36 | 9.49 |
| Net Worth | 139.43 | 79.36 | 81.14 | 76.28 |
| Reserves and Surplus | 129.53 | 69.47 | 70.45 | 65.35 |
| Total Borrowing | - | 21.15 | 24.01 | 30.96 |
Important Details of Freshtrop Fruits Limited Buyback 2024
| Issue Period | Apr 8, 2024 - Apr 16, 2024 |
| Security Name | Freshtrop Fruits Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,925,000 |
| Issue Size (Amount) | Rs 33.69 Crores |
| Buyback Price | Rs 175 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
Time-Table For Freshtrop Fruits Limited Buyback 2024
| Last Date to buy shares | Apr 01, 2024 |
| Record Date | Apr 02, 2024 |
| Offer Opens On | Apr 08, 2024 |
| Last Date for receipt of Tender Forms | Apr 16, 2024 |
| Offer Closes On * | Apr 16, 2024 |
| Finalization of Buyback Acceptance | Apr 23, 2024 |
| Last Date for settlement of bids | Apr 24, 2024 |
| Last Date for Extinguishment of Shares | May 06, 2024 |
Lead managers for Freshtrop Fruits Limited Buyback?
Lead managers of the Freshtrop Fruits Limited Buyback are Vivro Financial Services Private Limited.
How to Apply for Freshtrop Fruits Limited Buyback?
Wait for the buyback to open for subscription, then click here to apply for the Freshtrop Fruits Limited Buyback with Bigul.
How to Check Allotment Status of Freshtrop Fruits Limited Buyback?
The registrar for Freshtrop Fruits Limited Buyback 2024 is Bigshare Services Private Limited. You can check the allotment by clicking here. Stay tuned with us for the updates.
FAQs
1. What is the Freshtrop Fruits Limited Buyback 2024, and what is its purpose?
Freshtrop Fruits Limited Buyback is a tender offer with an issue size of 1,925,000 equity shares at a price of Rs 175 per share, amounting to Rs 33.69 crores. The issue is 19.4% of the total number of equity shares. The face value is at Rs 10 per share
2. What are the details of the buyback offer?
This buyback is a tender offer and the issue size is of 1,925,000 equity shares at a price of Rs 175 per share, amounting up to Rs 33.69 crores.
3. When will the Freshtrop Fruits Limited Buyback will open, and how can I apply?
The buyback offer opens on April 8, 2024 and closes on April 16, 2024. Once it is open, eligible shareholders can apply by clicking here with Bigul.
4. How do I check the allotment status of the Freshtrop Fruits Limited Buyback 2024?
The registrar for the Freshtrop Fruits Limited Buyback is Bigshare Services Private Limited. You can apply by clicking here. Shareholders should stay tuned for further information.
5. Who can participate in the Freshtrop Fruits Limited Buyback 2024?
All shareholders of Freshtrop Fruits Limited holding the company shares on record date are eligible to participate in the buyback. This includes both retail and institutional investors.