The Dhanuka Agritech buyback will officially open on August 22, 2024. Consequently, the record date for this buyback is August 16, 2024. Therefore, investors need to purchase Dhanuka Agritech shares before the record date to become eligible for the buyback.
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Dhanuka Agritech Buyback 2024 Overview
| Security Name | Dhanuka Agritech Limited |
| Buyback Type | Tender Offer |
| Open Date | August 22, 2024 |
| Close Date | August 28, 2024 |
| Issue Size (Amount) | ₹200.00 Crores (1,666,666 Equity Shares) |
| Face Value | ₹1 per share |
| Buyback Price | ₹1200 per share |
| Listing At | BSE, NSE |
| Letter of Offer | Click Here |
Company Details
Dhanuka Agritech Limited stands out as a leading agri-input company in India. Notably, Forbes has recognized it as one of the “200 Best Under A Billion Companies in the Asia Pacific.”Additionally, the company lists its shares on both the Bombay Stock Exchange and the National Stock Exchange of India. Over the years, Dhanuka has consistently earned numerous accolades. Notably, the company received the prestigious “Company of the Year” award in the Agrochemical Category by FICCI. Furthermore, Dhanuka was recognized with the “Great Place to Work” designation for 2018–19, highlighting its commitment to creating an exceptional work environment. Moreover, Dhanuka maintains a strong presence across India, collaborating with 750,000 dealers and 6,500 distributors. The company operates through eight branch offices, three manufacturing facilities, and 39 warehouses. Furthermore, Dhanuka offers a range of products, including herbicides, insecticides, fungicides, and plant growth regulators, which are essential for major crops in India.
The Board of Directors of Dhanuka Agritech approved a buyback of ₹100 crores during their meeting held on August 2, 2024. They will carry out the buyback via the Tender Offer route, utilizing the stock exchange mechanism. Specifically, the board authorized the company to repurchase its fully paid-up equity shares, each with a face value of ₹2, at a price of ₹2000 per share. The total buyback amount will not exceed ₹100 crores, targeting shareholders who participate in the offer.
Dhanuka Agritech Buyback 2024 Key Dates
| Last Date to buy shares | August 14, 2024 |
| Record Date | August 16, 2024 |
| Offer Opens On | August 22, 2024 |
| Last Date for receipt of Tender Forms | August 28, 2024 |
| Last Date for settlement of bids | August 28, 2024 |
| Finalisation of Buyback Acceptance | September 3, 2024 |
| Last Date for settlement of bids | September 4, 2024 |
| Last Date for Extinguishment of Shares | September 13, 2024 |
Buyback 2024 Acceptance Ratio
The investor should consider buying approximately 100 shares at the current market price of ₹1822 (as of today). To illustrate, if we use the buyback price of ₹2000, the calculation would be ₹2,00,000 divided by ₹2000, resulting in 100 shares. Thus, the investor can effectively participate in the buyback by purchasing these shares.
| Acceptance Ratio | Investment | Shares Buyback | Profit |
|---|---|---|---|
| 33% | ₹182100 | 33 | ₹5907 |
| 50% | ₹182100 | 50 | ₹8950 |
| 75% | ₹182100 | 75 | ₹13425 |
| 100% | ₹182100 | 100 | ₹17900 |
Financials (₹ in Crores)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | N/A | N/A | N/A |
| Revenue | ₹1793.5 | ₹1744.98 | ₹1511.36 |
| Profit After Tax | ₹239.09 | ₹233.5 | ₹208.9 |
| Reserves and Surplus | ₹1246.75 | ₹1052.18 | ₹951.1 |
How to Participate in the Dhanuka Agritech Buyback 2024?
To participate in the Dhanuka Agritech Buyback 2024 scheme, investors must first ensure they hold Dhanuka Agritech shares in their Demat account as of the Record Date. Once confirmed as eligible shareholders, they can participate by submitting the opening form and selling their shares through the scheme. Afterward, the company will process the payment based on the number of shares it accepts under the Dhanuka Agritech scheme.
Necessity of the Issue
The buyback is being undertaken for several important reasons:
- First, the buyback allows the company to efficiently return surplus cash to its equity shareholders. Moreover, it is expected to enhance the return on equity by distributing cash, which in turn will improve earnings per share by reducing the equity base. Consequently, this should result in a long-term increase in shareholder value.
- Additionally, the buyback offers shareholders a choice: they can either sell their equity shares to receive immediate cash or retain their shares and, as a result, enjoy an increased percentage shareholding post-buyback without any additional investment.
- Furthermore, the buyback, which is being carried out through the tender offer as outlined by the buyback regulations, includes a provision for small shareholders.
- Specifically, a minimum reservation of 15% is allocated to them, with the potential for a higher allocation based on their entitlement. This reservation, the company believes, will benefit a significant portion of public shareholders, particularly those classified as small shareholders.
Dhanuka Agritech Buyback 2024 Registrar
Bigshare Services Pvt Ltd
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road,
Marol, Andheri(E), Mumbai – 400 059
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Dhanuka Agritech Buyback 2024 Manager
Sundae Capital Advisors Limited
Address, 1177, VEGAS, 11TH FLOOR PLOT NO.6,
SECTOR 14(NORTH) DWARKA CITY CENTRE. City,
NEW DELHI – 110075.
Phone: +91 11 6134 0375
Email: info@sundaecapital.com
Website: https://sundaecapital.com/index.html
Dhanuka Agritech Limited Contact
Dhanuka Agritech Limited
Global Gateway Towers,
Near Guru Dronacharya Metro Station,
MG Road, Gurugram – 122002
Phone: +91-124-434-5000
Email: headoffice@dhanuka.com
Website: http://www.dhanuka.com/
FAQs
This Buyback 2024 record date is set for August 16, 2024.
Log in to the Paytm Money Application with your credentials. Select the Dhanuka Agritech. Enter your Quantity and submit the Dhanuka Agritech Application Form.
As of now, this Buyback 2024 open date is August 22, 2024, though the specific date has yet to be confirmed.
The company has fixed the buyback price at ₹2000 per share.
To apply for the Dhanuka Agritech Buyback 2024, you must first ensure that you hold Dhanuka Agritech shares in your Demat Account as of the record date. Once you have the shares in your account, you will then be eligible to participate in the buyback.
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