Savita Oil Technologies will commence its buyback on August 22, 2024. Consequently, the record date for this buyback is August 16, 2024 and To be eligible for the buyback, investors should purchase shares before the record date.
Table of contents
- Savita Oil Technologies Buyback 2024 Overview
- Company Details
- Savita Oil Technologies Buyback 2024 Key Dates
- Savita Oil Technologies Buyback 2024 Acceptance Ratio
- Financials (₹ in Crores)
- How to Participate in Savita Oil Technologies Buyback 2024
- Savita Oil Technologies Buyback 2024 Registrar
- Savita Oil Technologies Buyback 2024 Lead Manager
- Savita Oil Technologies Limited Contact
- FAQs
Savita Oil Technologies Buyback 2024 Overview
| Security Name | Savita Oil Technologies Limited |
| Buyback Type | Tender Offer |
| Open Date | August 22, 2024 |
| Close Date | August 28, 2024 |
| Issue Size (Amount) | ₹36.45 Crores (540,000 Equity Shares) |
| Face Value | ₹2 per share |
| Buyback Price | ₹675 per share |
| Listing At | BSE, NSE |
| Letter of Offer | Click Here |
Company Details
Founded in 1961 by Mr. Nandkishore Mehra and his father, Mr. Devichand Mehra, Savita Oil Technologies Limited is headquartered in Mumbai. Initially starting as a manufacturer of petroleum jelly and liquid paraffin, Savita has expanded to become one of the top producers of lubricants and petroleum specialties. Over the years, the company expanded from its base in Mumbai to establish facilities in Turbhe, Mahad, and Silvassa. Notably, Savita achieved a significant milestone by becoming the first in India’s private oil sector to receive government recognition in 1976. Subsequently, the company went public in 1994. Moreover, it launched its lubricant brand, SAVSOL, in 2007. Renowned for its commitment to sustainability and renewable energy, Savita continues to drive growth and add value for all stakeholders. Furthermore, the company operates modern production facilities in over 75 countries and holds ISO 9001 certification.
Savita Oil Technologies has announced a buyback of ₹36.45 crores, which the Board of Directors approved during their meeting held on August 3, 2024. The company will execute the buyback through the Tender Offer route using the stock exchange mechanism. Specifically, the buyback involves repurchasing fully paid-up equity shares with a face value of ₹2 each at a price of ₹675 per share. In total, the buyback amount will not exceed ₹36.45 crores, targeting shareholders who choose to participate.
Savita Oil Technologies 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 |
| Offer Closes On | August 28, 2024 |
| Finalisation of Buyback Acceptance | September 2, 2024 |
| Last Date for settlement of bids | September 4, 2024 |
| Last Date for Extinguishment of Shares | September 12, 2024 |
Savita Oil Technologies Buyback 2024 Acceptance Ratio
The investor should consider buying approximately 296 shares, given the current market price of ₹628 (as of today). Specifically, to reach the desired investment amount, they would divide ₹2,00,000 by the buyback price of ₹675. Consequently, this calculation results in the acquisition of around 296 shares.
| Acceptance Ratio | Investment | Shares Buyback | Profit |
|---|---|---|---|
| 33% | ₹185888 | 97 | ₹4559 |
| 50% | ₹185888 | 148 | ₹6956 |
| 75% | ₹185888 | 222 | ₹10434 |
| 100% | ₹185888 | 296 | ₹13912 |
Financials (₹ in Crores)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | N/A | N/A | N/A |
| Revenue | ₹3812.09 | ₹3653.37 | ₹2969.19 |
| Profit After Tax | ₹200.76 | ₹225.7 | ₹260.49 |
How to Participate in Savita Oil Technologies Buyback 2024
Investors who hold Savita Oil Technologies shares in their Demat accounts as of the Record Date are eligible for the buyback scheme. Consequently, eligible shareholders can participate in the Savita Oil Technologies Buyback 2024 by submitting the required forms and selling their shares. Following this, the company will process the payment based on the accepted shares under the Savita Oil Technologies scheme. For additional information, please refer to the details of the buyback scheme.
Necessity of the Issue
The buyback aims to achieve several objectives below:
- Firstly, it allows the company to return surplus cash to its shareholders who hold equity shares. Consequently, this distribution of cash is expected to enhance the return on equity.
- Additionally, by reducing the equity base, the buyback should improve earnings per share. This, in turn, is anticipated to contribute to a long-term increase in shareholder value.
- Moreover, the buyback provides shareholders with two options: they can either sell their equity shares and receive cash or retain their shares, resulting in an increased percentage of ownership without requiring additional investment.
- Furthermore, the buyback, executed through a tender offer as per the regulations, will reserve a minimum of 15% of the shares for small shareholders. This reservation ensures that a higher number of shares are allocated to them, benefiting a significant portion of the public shareholders classified as small shareholders.
Savita Oil Technologies Buyback 2024 Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: cerasanitaryware.buyback2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Savita Oil Technologies Buyback 2024 Lead Manager
Saffron Capital Advisors Private Limited
605 Center Point, Andheri Kurla Road,
J B Nagar, Andheri East, Mumbai
Phone: +91-22-49730394
Email: info@saffronadvisor.com
Website: http://www.saffronadvisor.com/
Savita Oil Technologies Limited Contact
Savita Oil Technologies Limited
66/67, Nariman Bhavan,
Nariman Point,
Mumbai – 400 021
Phone: +91-22-2288 3061
Email: legal@savita.com
Website: https://www.savita.com/index.php
FAQs
The record date for this Buyback 2024 is August 16, 2024.
The buyback will open on August 22, 2024.
Additionally, The company has set the buyback price at ₹675 per share.
To participate, ensure that you hold Savita Oil Technologies shares in your Demat Account by the record date. Once you have the shares in your account, you can apply for the buyback.
Log in to the Paytm Money Application using your credentials. Next, select Savita Oil Technologies from the list. Then, enter your desired quantity and proceed to submit the Savita Oil Technologies Application Form.
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