Shervani Industrial Syndicate Buyback Record Date is finalized.
Incorporated in 1948, Shervani Industrial Syndicate (SISL) originally focused on the production of Geep brand Torches & Drycell Batteries. However, its endeavors expanded as it ventured into the realm of Real Estate. One of its pioneering real estate ventures was the development of Sterling Apartments located in Prayagraj.
The company is developing Shervani Legacy, a residential gated colony in Shervani Nagar, Prayagraj. It includes residential plots, commercial areas, group housing, and a school. The campus has ample open space, featuring parks, playgrounds, a rainwater harvesting pond, and wide roads with pathways.
In the fiscal year 2023, the group housing project Naman Homes was finished six months ahead of the committed date to customers. Currently, construction work on the project The Crescent is underway and is scheduled to be completed ahead of the planned timeframe.
Farco Foods Private Limited, a wholly-owned subsidiary of the company, specializes in manufacturing biscuits on a job-work basis for M/s Surya Foods and Agro Limited under their Priya Gold brand. In the fiscal year 2023, the company produced approximately 6016 metric tons of biscuits.
Shervani Industrial Syndicate Buyback Record Date, Other Details
| Shervani Industrial Syndicate Buyback Dates | 14 – 20 March 2024 |
| Shervani Industrial Syndicate Buyback Price | INR 510 per share |
| Market Price on Buyback Approval | INR 768.1 per share |
| Buyback Premium on Market Price | NA |
| Buyback Offer Size (Shares) | 134,000 shares |
| Buyback Offer Size (Amount) | INR 6.83 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE |
Shervani Industrial Syndicate Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 14 February 2024 |
| Buyback Approval Date | 23 February 2024 |
| Public Announcement of Buyback | 27 February 2024 |
| Shervani Industrial Syndicate Buyback Record Date | 7 March 2024 |
| Buyback Opening Date | 14 March 2024 |
| Buyback Closing Date | 20 March 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 20 March 2024 |
| Verification Date by the Registrar | 22 March 2024 |
| Return of unaccepted shares by Registrar | 27 March 2024 |
| Extinguishment of accepted shares | 8 April 2024 |
Shervani Industrial Syndicate Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Shervani Industrial Syndicate Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 108/739 | 14.61 |
| General category (for all other Eligible Shareholders) | 2/45 | 4.44 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Shervani Industrial Syndicate Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 31.89 | 8.86 | 26.71 |
| Total Expenses | 28.06 | 12.76 | 24.19 |
| Net income | 6.66 | (2.77) | 23.63 |
Calculation of Investment in Buyback
| Closing price of the stock as of 23 February 2024 | INR 2,00,000 |
| Buyback price per share | INR 510 |
| Maximum shares for small shareholders (2,00,000/510) | 393 shares * |
| The closing price of the stock as of 23 February 2024 | INR 768.1** |
| Maximum amount invested in buyback (INR 768.1 x 393 shares) | INR 3,01,863.3 |
** For simplicity, we have considered the price on the buyback approval date
Registrar of Shervani Industrial Syndicate Buyback 2024
LINK INTIME INDIA PRIVATE LIMITED
C101, 247 Park, LBS Marg,
Vikhroli (West), Mumbai 400 083
Tel:Â +91-22-49186200
E-mail:Â [email protected]
Website:Â www.linkintime.co.in
Manager of Shervani Industrial Syndicate Buyback 2024
SUMEDHA FISCAL SERVICES LIMITED
6A Geetanjali, 6th Floor,
8B Middleton Street, Kolkata – 700071
Tel:Â (033) 2229 8936/6813 5900
E-mail:Â [email protected]
Website:Â www.sumedhafiscal.com
The Process to Participate in the Shervani Industrial Syndicate 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 Shervani Industrial Syndicate buyback dates?
Shervani Industrial Syndicate share buyback opens on 14 March 2024 and closes on 20 March 2024.
Which type of buyback is Shervani Industrial Syndicate’s buyback offer?
Shervani Industrial Syndicate buyback is a tender offer.
What is Shervani Industrial Syndicate buyback price?
Shervani Industrial Syndicate’s buyback price is INR 510 per share.
What is the Shervani Industrial Syndicate buyback record date?
Shervani Industrial Syndicate buyback record date is 7 March 2024.
How to participate in Shervani Industrial Syndicate share buyback?
Shervani Industrial Syndicate share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
