Last updated on December 20, 2023
Somany Ceramics Buyback 2023 description – Somany Ceramics a leading ceramic and tile manufacturer, has emerged as an internationally acclaimed organization that specializes in the manufacture of ceramic tiles, sanitaryware, and bath fittings. The company offers a wide range of products at various price points, positioning itself as a premium brand that delivers innovative, high-quality solutions for both residential and commercial customers.
The company offers a diverse range of products including ceramic tiles, vitrified tiles in glazed and non-glazed forms, sanitaryware, bath fittings, and porcelain floor tiles that come in different textures, shapes, and sizes.
Somany Ceramics has a distribution network extending to more than 80 countries spanning six continents, the company has stayed true to its roots by maintaining 11 state-of-the-art production facilities within India. It has a network of over 500 exclusive showrooms and a robust distribution chain comprising more than 15,000 dealers and sub-dealers.
Somany Ceramics Share Buyback 2023 Details
| Somany Ceramics Buyback Dates | 21 – 28 Dec 2023 |
| Somany Ceramics Buyback Price | INR 850 per share |
| Market Price on Buyback Approval | INR 659.10 per share |
| Buyback Premium on Market Price | 28.96% |
| Buyback Offer Size (Shares) | 14,70,588 shares |
| Buyback Offer Size (Amount) | INR 125 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Somany Ceramics Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 20 October 2023 |
| Buyback Approval Date | 26 October 2023 |
| Public Announcement of Buyback | 6 December 2023 |
| Somany Ceramics Buyback Record Date | 15 December 2023 |
| Buyback Opening Date | 21 December 2023 |
| Buyback Closing Date | 28 December 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 28 December 2023 |
| Verification Date by the Registrar | 2 January 2024 |
| Return of unaccepted shares by Registrar | 4 January 2024 |
| Extinguishment of accepted shares | 12 January 2024 |
Somany Ceramics Buyback 2023 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Somany Ceramics Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 5/29 | 17.24 |
| General category (for all other Eligible Shareholders) | 8/265 | 3.02 |
A small shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Somany Ceramics Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 1,650.46 | 2,094.46 | 2,478.51 |
| Total Expenses | 1,561.13 | 1,981.52 | 2,398.01 |
| Net income | 61.27 | 93.41 | 66.92 |
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 850 |
| Maximum shares for small shareholder (2,00,000/850) | 236 shares * |
| Closing price of stock as on 26 October 2023 | INR 659.10** |
| Maximum amount invested in buyback (INR 659.10 x 236 shares) | INR 1,55,547.6 |
** For simplicity, we have considered price on buyback approval date
Somany Ceramics Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 236 | 41 | 41 (100%) | 7,826.9 | 5.03 |
| 236 | 41 | 82 (200%) | 15,653.8 | 10.06 |
| 236 | 41 | 123 (300%) | 23,480.7 | 15.10 |
Registrar of Somany Ceramics Buyback 2023
MAHESHWARI DATAMATICS PVT LTD
Office No. 23, R.N. Mukherjee Road,
5th floor, Kolkata, West Bengal, 700001
Telephone:Â 033-22435809/22435029
Email:Â [email protected]
Website:Â www.mdpl.in
Manager of Somany Ceramics Buyback 2023
ICICI SECURITIES LIMITED
ICICI Venture House, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400025 Maharashtra
Phone:Â + 91-22 6807 7100
Email:Â somanybuyback@icicisecurities .com
Website: www.icicisecurities .com
The process to Participate in Somany Ceramics 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 Somany Ceramics buyback dates?
Somany Ceramics share buyback opens on 21 December 2023 and closes on 28 December 2023.
Which type of buyback is Somany Ceramics buyback offer?
Somany Ceramics buyback is a tender offer.
What is Somany Ceramics buyback price?
Somany Ceramics buyback price is INR 850 per share.
What is Somany Ceramics buyback record date?
Somany Ceramics buyback record date is 15 December 2023.
How to participate in Somany Ceramics share buyback?
Somany Ceramics share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
