Last updated on January 22, 2023
KDDL Buyback 2023 description – Incorporated in 1981, KDDL manufactures watch components like dials, hands and precision engineering goods under the brand name, Eigen. Ethos, the retail arm of the company, is the largest organized luxury watch retailer in the country and operates 50 stores across India as of June 2022.
The company is undertaking an expansion of its dials factory situated at Derabassi, Punjab, which will enhance the capacity of the unit by 0.5 million pcs. The expansion will involve a capex of INR 16 crores and will be executed in phases over a two year period (in FY23 and FY24). It is also setting up a new plant for manufacturing of top quality steel bracelets for watches around Bangalore (Karnataka), involving a capital expenditure of INR 25 crores to be executed over the next two years (in FY23 and FY24).
The company is looking to become a luxury-focused distribution channel for luxury brands in segments such as branded jewelry, luxury luggage, and travel, etc.
KDDL Share Buyback 2023 Details
|KDDL Buyback Dates||25 January – 24 July 2023|
|KDDL Buyback Price||INR 1,200 per share|
|Market Price on Buyback Approval||INR 1,067.7 per share|
|Buyback Premium on Market Price||12.39%|
|Buyback Offer Size (Shares)||1,75,000 share|
|Buyback Offer Size (Amount)||INR 21 crore|
|Offer Type||Open Market (Stock Exchange)|
|Face Value||INR 10 per share|
|Listing At||BSE SME|
KDDL Buyback Dates (Timeline)
|Board Meeting Intimation for Buyback Proposal||14 January 2023|
|Buyback Approval Date||18 January 2023|
|Public Announcement of Buyback||20 January 2023|
|Buyback Record Date||Not Applicable|
|Buyback Opening Date||25 January 2023|
|Buyback Closing Date||24 July 2023|
KDDL Buyback 2023 Documents
KDDL Buyback Entitlement Ratio
There is no shareholder entitlement since the buyback will be conducted through open market purchases.
KDDL Financial Performance
|FY 2020||FY 2021||FY 2022|
Registrar of KDDL Buyback 2023
MAS SERVICES LIMITED
T-34, 2nd Floor, Okhla Industrial Area,
Phase – II, New Delhi – 110020
E-mail: [email protected]
Manager of KDDL Buyback 2023
ITI CAPITAL LIMITED
ITI House 36,
Dr. R.K. Shirodkar Marg,
Parel, Mumbai – 400012
Phone: +912269113388 / 69113371
Email: [email protected]
Process to Participate in KDDL Buyback
Buybacks are conducted either through a tender process or open market (stock exchanges).
Through Tender Process
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 stock broker. 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.
Through Open Market (Stock Exchanges)
Investor shareholders don’t have to do anything as the company purchases shares through the open market at the prevailing rates and cancels the shares. Since the shares in circulation are reduced by these operations, the fair value of the remaining shares increase, effectively making them more valuable.
Frequently Asked Questions
What are KDDL buyback dates?
KDDL share buyback opens on 25 January 2023 and closes on 24 July 2023.
Which type of buyback is KDDL buyback offer?
KDDL buyback is an open market offer.
What is KDDL buyback price?
KDDL buyback price is INR 1,200 per share.
What is KDDL buyback record date?
KDDL buyback record date is Not Applicable.
How to participate in KDDL share buyback?
KDDL share buyback will be conducted through open market purchases and thus, no special participation is required from investors.