Cheviot Buyback 2022 Record Date, Buyback Price, Entitlement Ratio

Cheviot Buyback 2022 description – The company manufactures jute products and jute fabrics with flexibility to cater to both domestic and international market. The Company is renowned for manufacturing superior quality technical jute fabrics for export market. The manufacturing facilities of the Company are located at 19, Mehta Road, Bade Kalinagar, Budge Budge – 700137 and Sector II, Falta Special Economic Zone, Falta 24-Parganas (South), PIN 743504, both in the State of West Bengal, India. The Company’s Export Oriented Unit is situated at Falta Special Economic Zone in the State of West Bengal, India. Cheviot Company Limited is recognized as a THREE STAR EXPORT HOUSE by the Government of India.

Cheviot Buyback 2022 Details

Buyback Dates	10 – 21 January 2022
Cheviot Buyback Price	INR1,725 per share
Buyback Offer Size	2,50,000 shares
Buyback offer as % of total shares	3.99%
Offer Amount	INR43.13 crore
Small shareholder reservation	15%
Offer Type	Tender
Promoter Participation	Yes
Face Value	INR10 per share
Listing At	BSE

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Cheviot Buyback Dates (Timeline)

Board Meeting for Buyback Proposal	04 December 2021
Buyback Approval Date	04 December 2021
Public Announcement of Buyback	06 December 2021
Cheviot Buyback Record Date	17 December 2021
Buyback Opening Date	10 January 2022
Buyback Closing Date	21 January 2022
Cut-off Date to receive completed tender forms by Registrar	25 January 2022
Verification Date by the Registrar	27 January 2022
Return of unaccepted shares by Registrar	02 February 2022
Extinguishment of accepted shares	09 February 2022

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Registrar of Cheviot Buyback 2022

Maheshwari Datamatics Private Limited
23, R. N. Mukherjee Road, 5th Floor
Kolkata – 700 001
Phone: +91 33 2248 2248
Fax: +91 33 2248 4787
Email: [email protected]
Website: www.mdpl.in

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Manager of Cheviot Buyback 2022

VC Corporate Advisors Private Limited
31, Ganesh Chandra Avenue, 2nd Floor, Suite No. 2C
Kolkata – 700 013
Phone: +91 33 2225 3940
Email: [email protected]
Website: www.vccorporate.com

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Cheviot Buyback 2022 Documents

Offer Letter
Draft Letter of Offer
Public Announcement
Upcoming Share Buyback

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Pre-Buyback Shareholding Pattern of Cheviot

Shareholder Category	No. of shares	% of shares
Promoters	46,86,039	74.77
DIIs/MFs	10,298	0.16
FIIs/FPIs/NRIs	62,481	1.00
Bodies corporate	15,08,057	24.07
Grand Total	62,66,875	100.00

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Cheviot Buyback Entitlement Ratio

Shareholder Category	Entitlement Ratio	Entitlement Ratio (in %)
Small Shareholders	13/141	9.22
General category for all other shareholders	31/854	3.63

Small Shareholder is defined as shareholder who holds shares worth less than INR2,00,000 as on record date.

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Cheviot Company’s Financial Performance

	FY2019	FY2020	FY2021
Total Income	416.7	467.7	441.3
Total Expenses	340.0	401.2	343.3
Net income	50.1	48.1	75.7
Net Worth	445.2	466.0	501.5
Reserves and Surplus	438.7	459.5	495.2

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Necessity of the Buyback

• The buy-back gives an option to the equity shareholders to participate in the buy-back and receive cash in lieu of Equity Shares accepted under the buy-back.
• The buy-back helps to return surplus cash to its shareholders, in proportion to their shareholding, thereby, enhancing the overall returns to shareholders.
• The buy-back would help in improving Earning per share (EPS), Return on asset (ROA) and Return on equity (ROE) ratios of the Company.
• The buy-back, which is being implemented through the Tender Offer route as prescribed under the Buyback Regulations, would involve a reservation for small shareholders as defined in the Buy-back Regulations.

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Process to Participate in Cheviot buyback

All eligible Shareholders of the Company who own Physical Shares or Demat Shares on the Record Date may participate in the buyback offer through their Stock Broker. The eligible shareholder who holds the shares in Demat form must notify their broker 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 shareholder who owns 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.

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Working Calculation of Amount Invested in Cheviot Buyback

Maximum market value of a share holder as on record date	INR2,00,000
Buyback price	INR1,725
Maximum shares of a share holder as on record date (2,00,000/1,725)	115 shares
Closing price of share as on record date (17 December 2021)	INR 1,372.15
Amount Invested in buyback (1,372.15 x 115 shares)	INR1,57,797

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Profit from Cheviot Buyback by Acceptance Ratio

Acceptance ratio	Amount invested in buyback	No. of shares buyback	Buyback Profit	Profit in %
33%	1,57,797	38	13,408	8.50
50%	1,57,797	58	20,465	12.97
75%	1,57,797	86	30,345	19.23
100%	1,57,797	115	40,578	25.72

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Frequently Asked Questions