The details for TTK Prestige Buyback 2024 are as follows: The buyback open date is scheduled for August 21, 2024. Additionally, the record date is set for August 14, 2024. Therefore, to be eligible for the buyback, investors must purchase TTK Prestige shares before the record date.
Table of contents
- TTK Prestige Buyback 2024 Overview
- Company Details
- TTK Prestige Buyback 2024 Key Dates
- TTK Prestige Buyback 2024 Acceptance Ratio
- Financials (₹ in Crores)
- How to Participate in TTK Prestige Buyback 2024
- Necessity of the Issue
- TTK Prestige Buyback 2024 Registrar
- TTK Prestige Buyback 2024 Lead Manager
- TTK Prestige Limited Contact
- FAQs
TTK Prestige Buyback 2024 Overview
| Security Name | TTK Prestige Ltd. |
| Buyback Type | Tender Offer |
| Open Date | August 21, 2024 |
| Close Date | August 27, 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
The Board of Directors of TTK Prestige approved significant buybacks of ₹200 crores during their meeting held on August 2, 2024. The Board of Directors of TTK Prestige approved a significant buyback of ₹200 crores during their meeting held on August 2, 2024. They will conduct the buyback through the Tender Offer route, utilizing the stock exchange mechanism. Specifically, the company plans to repurchase fully paid-up equity shares with a face value of ₹1 per share and will offer a buyback price of ₹1200 per share. In total, the buyback will not exceed ₹200 crores. Moreover, it directly targets shareholders who choose to participate in the offer. For further information, you can find more details on the TTK Prestige Buyback 2024 below:
With a legacy spanning over six decades, TTK Prestige consistently leads the kitchen and home product industry by prioritizing customer needs. They apply their expertise and commitment to innovation, trust, and transparency to maintain their position as India’s most trusted brand. TTK Prestige designs and operates state-of-the-art facilities that focus on sustainable practices, such as zero waste discharge, while producing high-quality products. They foster a culture of growth and creativity, encouraging employees to innovate and redefine the modern Indian kitchen.
TTK Prestige Buyback 2024 Key Dates
| Last Date to buy shares | August 12, 2024 |
| Record Date | August 14, 2024 |
| Offer Opens On | August 21, 2024 |
| Last Date for receipt of Tender Forms | August 27, 2024 |
| Offer Closes On | August 27, 2024 |
| Finalisation of Buyback Acceptance | September 2, 2024 |
| Last Date for settlement of bids | September 3, 2024 |
| Last Date for Extinguishment of Shares | September 12, 2024 |
TTK Prestige Buyback 2024 Acceptance Ratio
To participate in the TTK Prestige Buyback, an investor should ideally purchase approximately 167 shares. Given the current market price of ₹955 per share (as of today’s date), the calculation is as follows: ₹2,00,000 divided by ₹1,200 (the buyback price) equals 167 shares. Consequently, this is the number of shares an investor needs to acquire in order to participate effectively in the buyback offer.
| Acceptance Ratio | Investment | Shares Buyback | Profit |
|---|---|---|---|
| 33% | ₹166499 | 55 | ₹11165 |
| 50% | ₹166499 | 83 | ₹16849 |
| 75% | ₹166499 | 125 | ₹25375 |
| 100% | ₹166499 | 167 | ₹33901 |
Financials (₹ in Crores)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹2742.66 | ₹2587.45 | ₹2414.49 |
| Revenue | ₹2753.38 | ₹2822.79 | ₹2757.50 |
| Profit After Tax | ₹225.33 | ₹254.95 | ₹305.43 |
| Reserves and Surplus | ₹2044.78 | ₹1892.75 | ₹1682.86 |
How to Participate in TTK Prestige Buyback 2024
Eligible investors who hold TTK Prestige shares in their Demat accounts as of the Record Date can participate in the buyback scheme. To do so, eligible shareholders must follow the procedure outlined in the opening form, which involves selling their shares. Subsequently, the company will process payments according to the terms of the TTK Prestige buyback scheme.
Necessity of the Issue
The company is conducting the buyback for the following key reasons:
- First, the company returns surplus cash to its equity shareholders.
- Additionally, by reducing the equity base, the company enhances return on equity and increases earnings per share, which drives long-term value for shareholders.
- Furthermore, shareholders can either sell their equity shares for cash or retain them to benefit from an increased percentage of ownership after the buyback, without making additional investments.
- Moreover, the company will conduct the buyback through a tender process, with at least 15% reserved for small shareholders. This ensures that many public shareholders classified as small shareholders benefit from this initiative.
TTK Prestige Buyback 2024 Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: ttkprestige.buyback@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
TTK Prestige Buyback 2024 Lead Manager
Inga Ventures Pvt Ltd
Unit No-1229, 12th Floor, Hubtown Solaris N S Phadke Marg,
Andheri East, MUMBAI, Maharashtra, India – 400069.
Phone: 022 6988 6000
Email: kamlesh@ingaventures.com
Website: https://ingaventures.com/
TTK Prestige Limited Contact
TTK Prestige Limited
Plot No. 38, SIPCOT Industrial Complex
Hosur – 635126.
Phone: +91 80 2217 743
Email: investorhelp@ttkprestige.com
Website: https://ttkprestige.com/
FAQs
The record date for this Buyback is August 14, 2024. Consequently, shareholders need to hold their shares in their Demat Account by this date to be eligible.
This Buyback will open on August 21, 2024. Therefore, ensure that your shares are in your Demat Account by this time to participate in the buyback.
This Buyback will close on August 27, 2024.
The company has set the buyback price at ₹1200 per share. This fixed price provides a clear offer for shareholders participating in the buyback.
To apply for this buyback, you need to hold shares in your Demat Account by the record date. Once you have the stock in your account, you can participate in the buyback offer.
For the latest news on Upcoming IPOs and IPO GMP, follow IPOGMP.IN. Additionally, connect with us on Twitter, Facebook, and Instagram.
