Last updated on February 15, 2024
Orbit Exports Buyback 2024 Description – Since its establishment in 1983 as a modest weaving enterprise, the company has made significant strides to emerge as one of India’s leading exporters of novelty fabrics. Orbit’s global presence attests to its success, as the company has successfully expanded its operations in the USA, Latin America, Africa, Europe, and the Far East.
As of today, Orbit Exports engages in diverse sectors, ranging from women’s apparel to Christmas crafts and home decor, with an additional focus on occasion-specific fabrics and finished products. Notably, the company’s offerings remain entirely original in creativity and production. This stems from the presence of a dedicated in-house design team, tirelessly working to maintain the company’s longstanding reputation for quality.
The Management’s Vision, combined with the unwavering dedication of its workforce, has propelled Orbit Exports to stand among the fastest-growing companies in the Textile sector. The company consistently exports 2 million meters of fabric every quarter, solidifying its position as the largest exporter of Christmas ribbons and made-up products in India.
Orbit Exports Share Buyback 2024 Details
| Orbit Exports Buyback Dates | 20 – 26 February 2024 |
| Orbit Exports Buyback Price | INR 250 per share |
| Market Price on Buyback Approval | INR 192.25 per share |
| Buyback Premium on Market Price | 30.04% |
| Buyback Offer Size (Shares) | 6,00,000 shares |
| Buyback Offer Size (Amount) | INR 15 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
Orbit Exports Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 24 January 2024 |
| Buyback Approval Date | 1 February 2024 |
| Public Announcement of Buyback | 5 February 2024 |
| Orbit Exports Buyback Record Date | 13 February 2024 |
| Buyback Opening Date | 20 February 2024 |
| Buyback Closing Date | 26 February 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 26 February 2024 |
| Verification Date by the Registrar | 28 February 2024 |
| Return of unaccepted shares by Registrar | 4 March 2024 |
| Extinguishment of accepted shares | 14 March 2024 |
Orbit Exports Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Orbit Exports Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 6/97 | 6.19 |
| General category (for all other Eligible Shareholders) | 1/50 | 2.00 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Orbit Exports Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 68.44 | 126.75 | 197.15 |
| Total Expenses | 70.02 | 108.42 | 159.54 |
| Net income | 2.38 | 17.80 | 34.38 |
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 250 |
| Maximum shares for small shareholders (2,00,000/250) | 800 shares * |
| Closing price of stock as of 1 February 2024 | INR 192.25** |
| Maximum amount invested in buyback (INR 192.25 x 800 shares) | INR 1,53,800 |
** For simplicity, we have considered the price on the buyback approval date
Orbit Exports Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 800 | 50 | 50 (100%) | 2,887.5 | 1.88 |
| 800 | 50 | 100 (200%) | 5,775.0 | 3.75 |
| 800 | 50 | 150 (300%) | 8,662.5 | 5.63 |
Registrar of Orbit Exports Buyback 2024
LINK INTIME INDIA PRIVATE LIMITED
C101, 247 Park, LBS Marg,
Vikhroli (West), Mumbai 400 083
Tel:Â +91 810 811 4949
E-mail:Â [email protected]
Website:Â www.linkintime.co.in
Manager of Orbit Exports Buyback 2024
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, SiXlh Floor, Centre Pont, Andheri-Kura Road,
J. B. Nagar, Andheri (East), Mumbai – 4 00 059, Maharashtra
Phone:Â +91 22 49730394
Email:Â [email protected]
Website: www.saffronadvisor.com
Process to Participate in Orbit Exports 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 Orbit Exports buyback dates?
Orbit Exports share buyback opens on 20 February 2024 and closes on 26 February 2024.
Which type of buyback is Orbit Exports buyback offer?
Orbit Exports buyback is a tender offer.
What is Orbit Exports buyback price?
Orbit Exports buyback price is INR 250 per share.
What is Orbit Exports buyback record date?
Orbit Exports buyback record date is 13 February 2024.
How to participate in Orbit Exports share buyback?
Orbit Exports share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
