Kaveri Seed Buyback 2024 description – Kaveri Seed Company is involved in the exploration, development, processing, and promotion of a diverse range of premium hybrid seeds.
As one of the leading seed companies in India, Kaveri Seed Company boasts a robust research and development foundation dedicated to creating top-notch hybrids in essential Indian crops. The company takes pride in its portfolio, featuring over 125 high-quality hybrids and varieties spanning both field and vegetable crops. Operating across 12 Agro-Climatic zones in India, Kaveri Seed Company has a significant presence in 18 states, solidifying its impact on the agricultural landscape.
The company maintains a vast network comprising 5,000+ distributors and a retailer base of over 60,000, encompassing 1,00,000+ organized acres. Over 65,000 seed production growers collaborate with the company across 5,000+ villages.
The company presents an extensive range of hybrid and variety seeds specifically designed for maize, rice, cotton, sunflower, mustard, sorghum, legumes, bajra, and wheat. Additionally, in the vegetable sector, the company offers farmers a diverse selection, encompassing tomatoes, okra, chilies, watermelon, gourds, and brinjal.
The company holds a substantial market share domestically, accounting for 98% of its revenue. It has seen rising growth in the export market as well, which includes Pakistan, Sri Lanka, Bangladesh, and Vietnam. It has also expanded its presence in the Middle East (UAE) and Africa (Nigeria). In FY23, Bangladesh contributed major export revenue.
Kaveri Seed Share Buyback 2024 Details
| Kaveri Seed Buyback Dates | 29 Feb – 6 Mar 2024 |
| Kaveri Seed Buyback Price | INR 725 per share |
| Market Price on Buyback Approval | INR 655.65 per share |
| Buyback Premium on Market Price | 10.58% |
| Buyback Offer Size (Shares) | 4,482,758 shares |
| Buyback Offer Size (Amount) | INR 325 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Kaveri Seed Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 30 December 2023 |
| Buyback Approval Date | 5 January 2024 |
| Public Announcement of Buyback | 13 February 2024 |
| Kaveri Seed Buyback Record Date | 23 February 2024 |
| Buyback Opening Date | 29 February 2024 |
| Buyback Closing Date | 6 March 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 6 March 2024 |
| Verification Date by the Registrar | 11 March 2024 |
| Return of unaccepted shares by Registrar | 14 March 2024 |
| Extinguishment of accepted shares | 26 March 2024 |
Kaveri Seed Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Kaveri Seed Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 116/459 | 25.27 |
| General category (for all other Eligible Shareholders) | 46/643 | 7.15 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Kaveri Seed Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 986.98 | 915.00 | 1,000.56 |
| Total Expenses | 721.81 | 740.65 | 780.64 |
| Net income | 305.31 | 208.90 | 267.04 |
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 725 |
| Maximum shares for small shareholders (2,00,000/725) | 276 shares * |
| Closing price of stock as of 5 January 2024 | INR 655.65** |
| Maximum amount invested in buyback (INR 655.65 x 276 shares) | INR 1,80,959 |
** For simplicity, we have considered the price on the buyback approval date
Kaveri Seed Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 276 | 70 | 70 (100%) | 4,854.5 | 2.68 |
| 276 | 70 | 140 (200%) | 9,709.0 | 5.37 |
| 276 | 70 | 210 (300%) | 14,563.5 | 8.05 |
Registrar of Kaveri Seed Buyback 2024
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road,
Andheri (East), Mumbai-400093, Maharashtra, India
Phone:Â +91 22 6263 8200
Email:Â [email protected]
Website:Â www.bigshareonline.com
Manager of Kaveri Seed Buyback 2024
BAJAJ CAPITAL LIMITED
Mezzanine Floor, Bajaj House, 97,
Nehru Place, New Delhi-110019, India
Phone:Â 011-41693000; 011-67000000
Email:Â [email protected]
Website:Â bajajcapital.com
Process to Participate in Kaveri Seed 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 Kaveri Seed buyback dates?
Kaveri Seed share buyback opens on 29 February 2024 and closes on 6 March 2024.
Which type of buyback is Kaveri Seed buyback offer?
Kaveri Seed buyback is a tender offer.
What is Kaveri Seed buyback price?
Kaveri Seed buyback price is INR 725 per share.
What is Kaveri Seed buyback record date?
Kaveri Seed buyback record date is 23 February 2024.
How to participate in Kaveri Seed share buyback?
Kaveri Seed share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
