Axita Cotton Buyback 2023 description – Incorporated in 2013, Axita Cotton is in the business relating to the production of Cottom Bales and Cotton Seeds. The company mainly produces two varieties of cotton bales namely Shankar-6 and MCU-5/MECH. It also does gin, pressing, and trading of Kapas on a job-work basis. It also produces Specialty Cotton which includes BCI Cotton, Organic Cotton, and Primark Sustainable Cotton.
The production unit of Axita Cotton is situated in Kadi, Gujarat. The products of the company are widely marketed and sold in the state of Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh.
Axita Cotton Share Buyback 2023 Details
| Axita Cotton Buyback Dates | 8 – 14 June 2023 |
| Axita Cotton Buyback Price | INR 56 per share |
| Market Price on Buyback Approval | INR 28.44 per share |
| Buyback Premium on Market Price | 96.91% |
| Buyback Offer Size (Shares) | 9,00,000 shares |
| Buyback Offer Size (Amount) | INR 5.04 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 1 per share |
| Listing At | BSE, NSE |
Axita Cotton Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 18 May 2023 |
| Buyback Approval Date | 23 May 2023 |
| Public Announcement of Buyback | 26 May 2023 |
| Axita Cotton Buyback Record Date | 2 June 2023 |
| Buyback Opening Date | 8 June 2023 |
| Buyback Closing Date | 14 June 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 14 June 2023 |
| Verification Date by the Registrar | 21 June 2023 |
| Return of unaccepted shares by Registrar | 21 June 2023 |
| Extinguishment of accepted shares | 3 July 2023 |
Axita Cotton Buyback 2023 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Axita Cotton Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 1/191 | 0.52 |
| General category (for all other Eligible Shareholders) | 1/44 | 2.27 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Axita Cotton Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 618.79 | 822.82 | 552.60 |
| Total Expenses | 613.06 | 809.64 | 533.70 |
| Net income | 3.73 | 14.54 | 17.04 |
All figures Standalone Data
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 56 |
| Maximum shares for small shareholder (2,00,000/56) | 3,572 shares * |
| Closing price of stock as on 23 May 2023 | INR 28.44** |
| Maximum amount invested in buyback (INR 28.44 x 3,572 shares) | INR 1,01,587.68 |
** For simplicity, we have considered price on buyback approval date
Axita Cotton Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 3,572 | 19 | 19 (100%) | 523.64 | 0.52 |
| 3,572 | 19 | 38 (200%) | 1,047.28 | 1.03 |
| 3,572 | 19 | 57 (300%) | 1,570.92 | 1.55 |
Registrar of Axita Cotton Buyback 2023
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1ST Floor, Okhla Industrial Area,
Phase- I, New Delhi- 110020
Phone: +91 -11 – 40450193-197
Email:Â [email protected]
Website:Â www.skylinerta.com
Manager of Axita Cotton Buyback 2023
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
B 1311-1314 Thirteenth Floor,
Shilp Corporate Park, Rajpath Rangoli Road,
Thattej, Ahmedabad, Ahmadabad City, Gujarat – 380054
Phone:Â 079-49185784
Email:Â [email protected]
Website:Â www.beelinemb.com
Process to Participate in Axita Cotton 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 stockbroker. 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. 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 complete document verification, 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 Axita Cotton buyback dates?
Axita Cotton share buyback opens on 8 June 2023 and closes on 14 June 2023.
Which type of buyback is Axita Cotton buyback offer?
Axita Cotton buyback is a tender offer.
What is Axita Cotton buyback price?
Axita Cotton buyback price is INR 56 per share.
What is Axita Cotton buyback record date?
Axita Cotton buyback record date is 2 June 2023.
How to participate in Axita Cotton share buyback?
Axita Cotton share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
