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.
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 |
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 |
Siyaram Silk Mills Buyback 2023 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
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.
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 |
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 |
** For simplicity, we have considered price on buyback approval date
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 |
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:Â +91 2249186200
Email:Â [email protected]
Website:Â www.linkintime.com
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:Â [email protected]
Website: www.vivro.net
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.
Frequently Asked Questions
What are Siyaram Silk Mills buyback dates?
Siyaram Silk Mills share buyback opens on 25 September 2023 and closes on 3 October 2023.
Which type of is Siyaram Silk Mills buyback offer?
Siyaram Silk Mills buyback is a tender offer.
What is the Siyaram Silk Mills buyback price?
Siyaram Silk Mills buyback price is INR 650 per share.
What is the Siyaram Silk Mills buyback record date?
Siyaram Silk Mills buyback record date is 18 September 2023.
How to participate in Siyaram Silk Mills share buyback?
Siyaram Silk Mills share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
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