Abirami Financial Buyback 2023 description – Abirami Financial Services (India) is engaged in the business of Hire purchase, Leasing and Lending Money against Securities, Movable and immovable properties.The Company is also registered as a Non-Banking Financial Company with the Reserve Bank of India.
Abirami Financial Share Buyback 2023 Details
| Abirami Financial Buyback Dates | 14 – 29 March 2023 |
| Abirami Financial Buyback Price | INR 28 per share |
| Market Price on Buyback Approval | INR 22.78 per share |
| Buyback Premium on Market Price | 22.91% |
| Buyback Offer Size (Shares) | 6,00,000 shares |
| Buyback Offer Size (Amount) | INR 1.68 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE |
Abirami Financial Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 12 January 2023 |
| Buyback Approval Date | 12 January 2023 |
| Public Announcement of Buyback | 16 January 2023 |
| Abirami Financial Buyback Record Date | 27 January 2023 |
| Buyback Opening Date | 14 March 2023 |
| Buyback Closing Date | 29 March 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 30 March 2023 |
| Verification Date by the Registrar | 6 April 2023 |
| Return of unaccepted shares by Registrar | 12 April 2023 |
| Extinguishment of accepted shares | 15 April 2023 |
Abirami Financial Buyback 2023 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Abirami Financial Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 17/62 | 27.41 |
| General category (for all other Eligible Shareholders) | 8/89 | 8.99 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Abirami Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Total Income | 68.78 | 51.08 | 46.37 |
| Total Expenses | 47.25 | 63.01 | 65.06 |
| Net income | 15.99 | (11.93) | (18.69) |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 28 |
| Maximum shares for small shareholder (2,00,000/28) | 7,143 shares * |
| Closing price of stock as on 12 January 2023 | INR 22.78** |
| Maximum amount invested in buyback (INR 22.78 x 7,143 shares) | INR 1,62,717 |
** For simplicity, we have considered price on buyback approval date
Abirami Financial Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 7143 | 1958 | 1958 (100%) | 10,220.8 | 6.28 |
| 7143 | 1958 | 3916 (200%) | 20,441.5 | 12.56 |
| 7143 | 1958 | 5874 (300%) | 30,662.3 | 18.84 |
Registrar of Abirami Financial Buyback 2023
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”,
#1, Club House Road,
Chennai – 600 002, Tamil Nadu
Phone: 044-28460390
Email: [email protected]
Website: www.cameoindia.com
Manager of Abirami Financial Buyback 2023
BONANZA PORTFOLIO LIMITED
Bonanza House, Plot No. M-2
Cama Industrial Estate, Walbhat Road,
Behind The Hub, Goregaon(East), Mumbai – 400063
Tel: +912262735500/68363700
Email: [email protected]
Website: www.bonanzaonline.com
Process to Participate in Abirami Buyback
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stock broker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Frequently Asked Questions
What are Abirami Financial buyback dates?
Abirami Financial share buyback opens on 14 March 2023 and closes on 29 March 2023.
Which type of buyback is Abirami Financial buyback offer?
Abirami Financial buyback is a tender offer.
What is Abirami Financial buyback price?
Abirami Financial buyback price is INR 28 per share.
What is Abirami Financial buyback record date?
Abirami Financial buyback record date is 27 January 2023.
How to participate in Abirami Financial share buyback?
Abirami Financial share buyback will be conducted through tender process and investors who hold the shares on record date can place orders through their broker.
