Elegant Marbles Buyback 2023 description – Incorporated in 1984, Elegant Marbles and Grani is an exporter of premium Italian and exotic marbles. The company produces Quartz, Engineered Marble, tiles, and other surfaces used in construction and interior design.
The company’s factory is situated on Abu Road, Rajasthan spread across an area of 2.5 million square feet. Elegant Marbles has supplied over 6,000 projects in India and abroad. Its export business is concentrated primarily in North America, GCC, Africa, and Europe.
The company is an authorized dealer of Versace Ceramics also has brands like Lamborghini tiles, Valentino tiles, Roberto Cavalli, Winkelmann, and Sienna.
Elegant Marbles Share Buyback 2023 Details
| Elegant Marbles Buyback Dates | 11 – 17 January 2024 |
| Elegant Marbles Buyback Price | INR 385 per share |
| Market Price on Buyback Approval | INR 299.7 per share |
| Buyback Premium on Market Price | 28.46% |
| Buyback Offer Size (Shares) | 6,97,000 shares |
| Buyback Offer Size (Amount) | INR 26.83 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE |
Elegant Marbles Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 8 November 2023 |
| Buyback Approval Date | 11 November 2023 |
| Public Announcement of Buyback | 26 December 2023 |
| Elegant Marbles Buyback Record Date | 5 January 2024 |
| Buyback Opening Date | 11 January 2024 |
| Buyback Closing Date | 17 January 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 19 January 2024 |
| Verification Date by the Registrar | 19 January 2024 |
| Return of unaccepted shares by Registrar | 24 January 2024 |
| Extinguishment of accepted shares | 5 February 2024 |
Elegant Marbles & Grani Industries Buyback 2023 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Elegant Marbles Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 86/353 | 24.36 |
| General category (for all other Eligible Shareholders) | 161/878 | 18.34 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Elegant Marbles Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 9.26 | 27.82 | 35.65 |
| Total Expenses | 12.74 | 26.68 | 32.12 |
| Net income | (0.79) | 2.69 | 3.04 |
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 385 |
| Maximum shares for small shareholders (2,00,000/385) | 520 shares * |
| Closing price of stock as of 11 November 2023 | INR 299.7** |
| Maximum amount invested in buyback (INR 299.7 x 520 shares) | INR 1,55,844 |
** For simplicity, we have considered the price on the buyback approval date
Elegant Marbles Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 520 | 127 | 127 (100%) | 10,833.1 | 6.95 |
| 520 | 127 | 254 (200%) | 21,666.2 | 13.90 |
| 520 | 127 | 381 (300%) | 32,499.3 | 20.85 |
Registrar of Elegant Marbles & Grani Industries Buyback 2023
LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, 1st Floor, L.B.S. Marg,
Vikhroli West, Mumbai, 400 083, Maharashtra
Phone:Â +91 81081 14949
Email:Â [email protected]
Website:Â www.linkintime.com
Manager of Elegant Marbles & Grani Industries Buyback 2023
SUNDAE CAPITAL ADVISORS PRIVATE LIMITED
404, 4th floor, Vaibhav Chambers, Opp. Income Tax Office,
Bandra Kurla Complex Bandra (East), Mumbai – 400051
Phone:Â +91 22 3501 4499
Email:Â [email protected]
Website:Â www.sundaecapital.com
Process to Participate in Elegant Marbles 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. 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 Elegant Marbles buyback dates?
Elegant Marbles share buyback opens on 11 January 2024 and closes on 17 January 2024.
Which type of buyback is Elegant Marbles buyback offer?
Elegant Marbles buyback is a tender offer.
What is Elegant Marbles buyback price?
Elegant Marbles buyback price is INR 385 per share.
What is Elegant Marbles buyback record date?
Elegant Marbles buyback record date is 5 January 2024.
How to participate in Elegant Marbles share buyback?
Elegant Marbles share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
