30-Oct-2023
2 mins read
Somany Ceramics Limited has got final approval from its board to propose a buyback offer of 1,470,588 equity shares (representing 3.46% 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 125.00 crores and the buyback price is Rs 850 per Equity share.
Somany Ceramics Limited Company’s Profile
Established in 1968, Somany Ceramics has been a prominent player in the market for over 50 years. They are renowned as exporters of ceramic products and have a global footprint, reaching more than 55 countries spanning six continents. Their diverse product range includes:
- Wall tiles.
- Floor tiles.
- Polished and glazed vitrified tiles.
- Sanitary ware and bathroom fittings.
Operating from production facilities in Kadi (Gujarat) and Kassar (Haryana), India, in addition to collaborative ventures, they possess a combined production capacity of 60 million square meters annually.
Important Details for Somany Ceramics Limited Buyback 2023
| Issue Period | December 21, 2023 – December 28, 2023 |
| Security Name | Somany Ceramics Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,470,588 |
| Issue Size (Amount) | Rs 125.00 Crores |
| Buyback Price | Rs 850 per share |
| Face Value | Rs 2 per share |
| Listing At | BSE, NSE |
Lead managers for Somany Ceramics Limited Buyback
The Lead manager of the Somany Ceramics Limited Buyback is not declared yet.
Registrar of the Somany Ceramics Limited Buyback
Registrar of the Somany Ceramics Limited Buyback is not declared yet.
Somany Ceramics Limited Financial Information (Consolidated Rs in Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 2,011.11 | 1,792.29 | 1,558.60 |
| Revenue | 2,493.05 | 2,107.88 | 1,663.37 |
| Profit After Tax | 66.92 | 93.42 | 60.59 |
| Net Worth | 786.97 | 726.3 | 640.75 |
| Reserves and Surplus | 886.04 | 825.42 | 731.95 |
FAQs
- What is the buyback price per share?
The buyback price per equity share is Rs 850.
- How many shares are being purchased in the buyback?
Somany Ceramics Limited will buy back 1,470,588.00 equity shares, which represents 3.46% 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 125.00 Crores.
- How will the buyback process take place?
The buyback will be conducted through the tender offer route. Shareholders who wish to participate can tender (offer) their shares at the buyback price of Rs 850 per share.
- What is the face value of Somany Ceramics Limited’s shares?
The face value of the company’s shares is Rs 2 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.