Larsen & Toubro Buyback 2023 description – Headquartered in Mumbai, Larsen & Toubro is one of the largest and most respected companies in India’s private sector. With over 80 years of a strong, customer-focused approach and a continuous quest for world-class quality, Larsen & Toubro is a multinational conglomerate that is primarily engaged in providing engineering, procurement, and construction (EPC) solutions in key businesses such as Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology and Financial Services in domestic and international markets.
As of March 2023, the company notched annual Order Inflows of more than INR 2 lakh crore. Consequently, the Order Book of the company today stands at a record high of INR ~4 lakh crore which, apart from being well diversified, also provides a multiyear revenue visibility. The Group revenues stood at INR 1.8 lakh crore for the year, registering a growth of 17% year-on-year – the best achieved in the last five years. The Group’s operating PAT for the year, at INR 10,374 crore, grew by 21% year-on-year.
Larsen & Toubro Share Buyback 2023 Details
| Larsen & Toubro Buyback Dates | 18 – 25 September 2023 |
| Larsen & Toubro Buyback Price | INR 3,200 per share (Revised from INR 3,000 per share) |
| Market Price on Buyback Approval | INR 2,561.95 per share |
| Buyback Premium on Market Price | NA |
| Buyback Offer Size (Shares) | 3,12,50,000 shares |
| Buyback Offer Size (Amount) | INR 10,000 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Larsen & Toubro Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 20 July 2023 |
| Buyback Approval Date | 25 July 2023 |
| Public Announcement of Buyback | 28 Aug 2023 |
| Larsen & Toubro Buyback Record Date | 12 Sep 2023 |
| Buyback Opening Date | 18 September 2023 |
| Buyback Closing Date | 25 September 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 25 September 2023 |
| Verification Date by the Registrar | 27 September 2023 |
| Return of unaccepted shares by Registrar | 29 September 2023 |
| Extinguishment of accepted shares | 11 October 2023 |
Larsen & Toubro Buyback 2023 Documents
Letter of Offer
Public Announcement
Revised Buyback Offer Price
Board Approval
Upcoming Share Buyback
Larsen & Toubro Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 9/38 | 23.68 |
| General category (for all other Eligible Shareholders) | 11/574 | 1.92 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Larsen & Toubro Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 135,979 | 156,521 | 183,341 |
| Total Expenses | 127,173 | 144,378 | 169,297 |
| Net income | 12,907 | 10,291 | 12,625 |
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 3,200 |
| Maximum shares for small shareholder (2,00,000/3,200) | 63 shares * |
| Closing price of stock as on 25 July 2023 | INR 2,561.95** |
| Maximum amount invested in buyback (INR 2,561.95 x 63 shares) | INR 161,403 |
** For simplicity, we have considered price on buyback approval date
Larsen & Toubro Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 63 | 15 | 15 (100%) | 9,570.75 | 5.93 |
| 63 | 15 | 30 (200%) | 19,141.5 | 11.86 |
| 63 | 15 | 45 (300%) | 28,712.25 | 17.79 |
Registrar of Larsen & Toubro Buyback 2023
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad Rangareddi,
500 032, Telangana, India
Phone:Â +91 40 6716 2222
Email:Â [email protected]
Website:Â www.kfintech.com
Manager of Larsen & Toubro Buyback 2023
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone:Â +91 22 6630 3030
Email:Â [email protected]
Website: www.jmfl.com
Process to Participate in Larsen & Toubro 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 Larsen & Toubro buyback dates?
Larsen & Toubro share buyback opens on 18 September 2023 and closes on 25 September 2023.
Which type of is Larsen & Toubro buyback offer?
Larsen & Toubro buyback is a tender offer.
What is the Larsen & Toubro buyback price?
Larsen & Toubro buyback price is INR 3,000 per share.
What is the Larsen & Toubro buyback record date?
Larsen & Toubro buyback record date is 12 September 2023.
How to participate in Larsen & Toubro share buyback?
Larsen & Toubro share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
Not received confirmation of my buyback shares (L&T) applied.