Siyaram Silk Mills Buyback 2023 Record Date, Buyback Price, Entitlement Ratio

Last updated on September 21, 2023

Siyaram Silk Mills Buyback 2023 description – Siyaram Silk Mills is a Textile manufacturing company. It is engaged in manufacturing fabrics and readymade garments, especially in the men’s wear section. The company exports to countries like Abu Dhabi, Australia, Bahrain, Bangladesh, Cambodia, Canada, etc.

The company offers a range of apparel including suits, blazers, shirts, and trousers made from the finest yarns for men, attuned to international standards and complementing a unique expression. The company sells its products under multiple brands that enjoy high recall value with consumers. They include brand names such as Siyaram Inspiron, J Hampstead, Oxemberg, and Siyaram’s Mozzo.

As of May 2023, the company has 800+ distributors spread across 30 countries, having 225+ stores across the nation selling around 100+ million meters of Fabric.

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Siyaram Silk Mills Share Buyback 2023 Details

Siyaram Silk Mills Buyback Dates	25 Sep – 3 Oct 2023
Siyaram Silk Mills Buyback Price	INR 650 per share
Market Price on Buyback Approval	INR 549 per share
Buyback Premium on Market Price	18.40%
Buyback Offer Size (Shares)	16,61,530 shares
Buyback Offer Size (Amount)	INR 108 crore
Offer Type	Tender
Promoter Participation	Yes
Face Value	INR 2 per share
Listing At	BSE, NSE

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Siyaram Silk Mills Buyback Dates (Timeline)

Board Meeting Intimation for Buyback Proposal	9 August 2023
Buyback Approval Date	12 August 2023
Public Announcement of Buyback	17 August 2023
Siyaram Silk Mills Buyback Record Date	18 September 2023
Buyback Opening Date	25 September 2023
Buyback Closing Date	3 October 2023
Cut-off Date to receive completed tender forms by Registrar	3 October 2023
Verification Date by the Registrar	6 October 2023
Return of unaccepted shares by Registrar	10 October 2023
Extinguishment of accepted shares	19 October 2023

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Siyaram Silk Mills Buyback 2023 Documents

Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback

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Siyaram Silk Mills Buyback Entitlement Ratio

Shareholder Category	Entitlement Ratio	Entitlement Ratio (in %)
Small Shareholders (less than INR 2 Lakh on record date)	53/457	11.60
General category (for all other Eligible Shareholders)	21/739	2.84

Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.

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Siyaram Silk Mills Financial Performance

	FY 2021	FY 2022	FY 2023
Revenue	1,088	1,903	2,229
Total Expenses	1,033	1,569	1,860
Net income	5	213	252

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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 650
Maximum shares for small shareholder (2,00,000/650)	308 shares *
Closing price of stock as on 14 August 2023	INR 549**
Maximum amount invested in buyback (INR 549 x 308 shares)	INR 169,092

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Siyaram Silk Mills Buyback Acceptance Ratio

Shares Tendered	Buyback Entitlement	Acceptance ratio	Buyback Profit	Profit in %
308	36	36 (100%)	3,636	2.15
308	36	72 (200%)	7,272	4.30
308	36	108 (300%)	10,908	6.45

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Registrar of Siyaram Silk Mills Buyback 2023

LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, 1st Floor, L.B.S. Marg,
Vikhroli West, Mumbai, 400 083, Maharashtra
Phone: +91 2249186200
Email: [email protected]
Website: www.linkintime.com

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Manager of Siyaram Silk Mills Buyback 2023

VIVRO FINANCIAL SERVICES PRIVATE LIMITED
607/608 Marathon Icon, Opp. Peninsula Corporate Park,
off. Ganpatrao Kadam Marg, Veer Santaji Lane,
Lower Parel, Mumbai – 400 013
Phone: +91 22 6666 8040
Email: [email protected]
Website: www.vivro.net

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The Process to Participate in Siyaram Silk Mills 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.

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Frequently Asked Questions