Jai Corp Buyback Record Date is 10 September 2024.Â
Incorporated in 1985, Jai Corp operates in manufacturing, focusing on steel, plastic processing, and spinning yarn. The company is also involved in investment advisory services and the development of land and buildings. Its offerings include infrastructure development, venture capital, poly woven products, geotextiles, woven sacks, FIBC bags, steel products, spinning segments, and masterbatches.
In addition to its traditional manufacturing businesses, which include steel and plastic processing, Jai Corp is diversifying into emerging sectors such as special economic zones (SEZs), infrastructure development, venture capital, and real estate. The company is actively investing in these areas to enhance its growth prospects and sustainability. As of the financial year 2022-23, Jai Corp reported that approximately 95.7% of its turnover comes from plastic processing, with a significant portion of its products catering to various industries, including agriculture and construction.
Jai Corp Buyback Record Date, Other Details
| Jai Corp Buyback Dates | 13 – 20 September 2024 |
| Jai Corp Buyback Price | INR 400 per share |
| Market Price on Buyback Approval | INR 395.50 per share |
| Buyback Premium on Market Price | 1.91% |
| Buyback Offer Size (Shares) | 29,44,415 shares |
| Buyback Offer Size (Amount) | INR 117.78 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 1 per share |
| Listing At | BSE, NSE |
Jai Corp Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 24 August 2024 |
| Buyback Approval Date | 29 August 2024 |
| Public Announcement of Buyback | 2 September 2024 |
| Jai Corp Buyback Record Date | 10 September 2024 |
| Buyback Opening Date | 13 September 2024 |
| Buyback Closing Date | 20 September 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 20 September 2024 |
| Verification Date by the Registrar | 21 September 2024 |
| Return of unaccepted shares by Registrar | 27 September 2024 |
| Extinguishment of accepted shares | 1 October 2024 |
Jai Corp Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Jai Corp Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 1/18 | 5.56 |
| General category (for all other Eligible Shareholders) | 18/1,225 | 1.47 |
A small shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Jai Corp Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Total Income | 716.14 | 590.27 | 457.84 |
| Total Expenses | 643.81 | 569.52 | 401.84 |
| Net Income | 54.19 | 3.48 | 53.89 |
Calculation of Investment in Buyback
| Maximum market value of a shareholder as on record date | INR 2,00,000 |
| Buyback price per share | INR 400 |
| Maximum shares for small shareholders (2,00,000/400) | 500 shares * |
| The closing price of the stock as of 29 August 2024 | INR 395.5** |
| Maximum amount invested in buyback (INR 395.5 x 500 shares) | INR 1,97,750 |
**Â For simplicity, we have considered the price on the buyback approval date
Jai Corp Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 500 | 28 | 28 (100%) | 126 | 0.06 |
| 500 | 28 | 56 (200%) | 252 | 0.13 |
| 500 | 28 | 84 (300%) | 378 | 0.19 |
Registrar of Jai Corp Buyback 2024
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel:Â +91 40 6716 2222
E-mail:Â [email protected]
Website:Â www.kfintech.com
Manager of Jai Corp Buyback 2024
NAVIGANT CORPORATE ADVISORS LIMITED
804, Meadows, Sahar Plaza Complex, J B Nagar,
Andheri Kurla Road, Andheri East, Mumbai-400 059
Phone:Â +91-22-41204837
E-mail:Â [email protected]
Website:Â www.navigantcorp.com
The Process to Participate in Jai Corp 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 Jai Corp’s buyback dates?
Jai Corp share buyback opens on 13 September 2024 and closes on 20 September 2024.
Which type of buyback is Jai Corp buyback offer?
Jai Corp buyback is a tender offer.
What is Jai Corp buyback price?
Jai Corp share buyback price is INR 400 per share.
What is the Jai Corp buyback record date?
Jai Corp buyback record date is 10 September 2024.
How to participate in Jai Corp share buyback?
Jai Corp share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
