05-Feb-2024
2 mins read
Orbit Exports Limited has recently announced a buyback. The issue size of shares will be 600,000, and the issue size in amount will be Rs 15.00 Crores. The said buyback price is Rs 250 per share with a face value of Rs 10 per share listing at both BSE and NSE.
Orbit Exports Limited Product Details
Founded in 1983, Orbit Exports Limited is a fabric manufacturing entity. The company boasts a widespread international presence, having set up significant operations in the USA, Latin America, Africa, Europe, and the Far East. Orbit Exports engages in a diverse array of sectors, encompassing women’s clothing, Christmas decorations, and home furnishings, along with specialising in fabrics and finished goods for specific occasions. The company prides itself on the uniqueness and originality of its products, both in terms of design and manufacture.
Orbit Exports ships out 2 million metres of fabric every quarter and holds the title of being India’s foremost exporter of Christmas ribbons and related products.
Company Financials of Orbit Exports Limited (In Crore)
Between the fiscal year ending March 31, 2023, and the previous year concluding on March 31, 2022, Orbit Exports Limited witnessed a revenue surge of 52.66% and an escalation in profit after tax (PAT) by 93.18%.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 287.03 | 279.09 | 226.16 |
| Revenue | 200.25 | 131.17 | 73.07 |
| Profit After Tax | 34.38 | 17.8 | 2.38 |
| Reserves and Surplus | 190.37 | 167.57 | 149.98 |
| Total Borrowing | 25.37 | 39.17 | 14.37 |
Important details of Orbit Exports Limited Buyback 2024
| Issue Period | 20-Feb-24 |
| Security Name | Orbit Exports Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 600,000 |
| Issue Size (Amount) | Rs 15.00 Crores |
| Buyback Price | Rs 250 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE, NSE |
Orbit Exports Buyback 2024 Issue Timetable
| Last Date to buy shares | 12-Feb-24 |
| Record Date | 13-Feb-24 |
| Offer Opens On | 20-Feb-24 |
| Last Date for receipt of Tender Forms | February 26, 2024 |
| Offer Closes On | 26-Feb-24 |
| Finalisation of Buyback Acceptance | 1-Mar-24 |
| Last Date for settlement of bids | 4-Mar-24 |
| Last Date for Extinguishment of Shares | March 14, 2024 4 |
The Necessity of the Orbit Exports Limited Buyback 2024
The objective of Orbit Exports Limited Buyback 2024 is to improve the valuation of the company and fair valuation of the share price. Moreover, it also enhances the overall returns to shareholders in the long run and to create the long term value for its shareholders. This buyback will improve the fundamental ratios of the company. Moreover, this buyback will give an exit option to the shareholders at a premium over market price.
Lead managers for Orbit Exports Limited Buyback 2024
Lead managers of the Orbit Exports Limited Buyback 2024 are Saffron Capital Advisors Private Limited.
FAQs
- What are the important details of Orbit Exports Limited Buyback 2024?
The Orbit Exports Limited Buyback 2024 is a corporate action where the company intends to repurchase 600,000 of its own shares from shareholders. The total buyback amount is set at Rs 15.00 Crores, with the buyback price at Rs 250 per share. The shares have a face value of Rs 10 and are listed on both BSE and NSE.
- When is the buyback period for Orbit Exports Limited’s buyback in 2024?
The specific dates for the buyback period of Orbit Exports Limited Buyback 2024, including the offer opening and closing dates are February 20, 2024 and February 26, 2024. However, the record date is set for February 13, 2024, and the last date to buy shares to be eligible for the buyback is February 12, 2024.
- What are the financial highlights leading up to the buyback for Orbit Exports Limited?
In the financial year ending March 31, 2023, Orbit Exports Limited reported a substantial revenue growth of 52.66% and an increase in profit after tax by 93.18% compared to the previous year. This indicates strong financial performance and growth, setting a positive backdrop for the buyback.
- Who are the lead managers for the Orbit Exports Limited Buyback 2024?
The lead managers for the Orbit Exports Limited Buyback 2024 are Saffron Capital Advisors Private Limited. Stakeholders are advised to stay tuned for future updates for comprehensive details on the buyback process and management team.