Filatex Buyback 2022 Record Date, Buyback Price, Entitlement Ratio

Filatex Buyback 2022 description – Filatex India Limited is a manufacturer of Polyester Filament Yarn and offers products like Monofilament Yarns for Zippers, Tooth Brush Bristles, Narrow Woven Fabrics, Polypropylene Yarn, and Forming Fabrics in India. The company built its 6,000 Tons Per Annum plant in Dadra & Nagar haveli in 1996 for manufacturing polyester multifilament yarns and a plant with a capacity of 600 tons per day, as well as a 260 tons per day POY, was set up in Dahej in 2012. The company has two regional offices in Maharashtra and Gujarat.

The company commenced production of Drawn Textured Yarn (DTY) during FY21. The increase in texturizing has helped improve the overall margins of the company on account of being a value-added product with global demand. 

The company is setting up a 30 MW captive thermal power plant in Dahej. It plans to replace two existing POY lines (144 ends) with two new POY lines (192 ends) at the Dadra plant, increasing the POY capacity of the plant by 5 TPD as well as further improving the quality of the yarn produced. The company also has plans to undertake capex during FY23 to increase its POY capacity by 120 MT per day and DTY capacity by 150 MT per day.

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Filatex Share Buyback 2022 Details

Buyback Dates	9 – 23 May 2022
Filatex Buyback Price	INR 140 per share
Buyback Offer Size (Shares)	42,50,000 shares
Buyback offer as % of total shares	1.89%
Buyback Offer Size (Amount)	INR 59.50 crore
Offer Type	Tender
Promoter Participation	Yes
Face Value	INR 2 per share
Listing At	BSE, NSE

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Filatex Buyback Dates (Timeline)

Board Meeting for Buyback Proposal	29 March 2022
Buyback Approval Date	29 March 2022
Public Announcement of Buyback	31 March 2022
Filatex Buyback Record Date	8 April 2022
Buyback Opening Date	9 May 2022
Buyback Closing Date	23 May 2022
Cut-off Date to receive completed tender forms by Registrar	23 May 2022
Verification Date by the Registrar	25 May 2022
Return of unaccepted shares by Registrar	27 May 2022
Extinguishment of accepted shares	8 June 2022

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Filatex Share Buyback 2022 Documents

Offer Letter
Draft Letter of Offer
Public Announcement
Upcoming Share Buyback

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Filatex Share Buyback Entitlement Ratio

Shareholder Category	Entitlement Ratio	Entitlement Ratio (in %)
Small Shareholders (less than INR2 Lakh on record date)	23/226	10.18%
General category (for all other Eligible Shareholders)	8/485	1.65%

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

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Filatex India’s Financial Performance

	FY2019	FY2020	FY2021
Total Income	2,874	2,782	2,227
Total Expenses	2,658	2,560	1,880
Net income	85	121	166

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Working Calculation of Amount Invested in Buyback

Maximum market value of a share holder as on record date	INR2,00,000
Buyback price	INR 140
Maximum shares for small shareholder (2,00,000/140)	1,428 shares
Closing price of share as on 29 March 2022	INR126.75
Maximum amount invested in buyback (126.75 x 1,428 shares)	INR1,80,999

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Profit from Filatex Buyback by Acceptance Ratio

Acceptance ratio	Amount invested in buyback	No. of shares bought back	Buyback Profit	Profit in %
33%	1,80,999	476	6,307	3.48
50%	1,80,999	714	9,460	5.23
75%	1,80,999	1,071	14,190	7.84

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Registrar of Filatex Stock Buyback 2022

MCS Share Transfer Agent Limited
F-65, Okhla Industrial Area Phase 1,
New Delhi 110020
Phone: 011 41406148,  
Fax: 011 41709881
Email: [email protected]
Website: www.mcsregistrars.com

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Manager of Filatex Share Buyback 2022

Corporate Professionals Capital Private Limited
D-28, South Extension Part 1,
New Delhi 110049
Phone: 011 40622230
Email: [email protected]

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Necessity of the Buyback

• The buy-back gives an option to the equity shareholders to either 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 Filatex Share 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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Frequently Asked Questions