Last updated on March 9, 2023
Sportking India Buyback 2023 description – Incorporated in 1989, Sportking India is an integrated textile conglomerate. The company’s yarn business is the largest strategic business unit which manufactures Cotton Yarns, Poly-Cotton Yarns, Fancy Yarns, Acrylic Yarns and Polyester Yarns. It also supplies knitted fabric and manufactures garments for Men, Women, Girls and Boys that are made available to customers through its own retail outlets.
The company consumes about 4 lakh bales of cotton every year. The company is associated with brands like Zara, H&M, Ikea, Jockey, Marks & Spencer etc. Its top five clients accounted for 24% of total revenues in FY 2021.
Sportking has seven manufacturing facilities in India spread across the states of Punjab and Himachal Pradesh. The present total installed capacity of the company is 2.72 lakh spindles for the manufacturing of Gray/Dyed Cotton/Cotton Blended/Synthetic Yarn. The company also owns 100 retail garment stores spread across India. Its capacity utilization in FY 2021 stood at 95%.
Sportking India Share Buyback 2023 Details
| Sportking India Buyback Dates | 15 – 28 March 2023 |
| Sportking India Buyback Price | INR 950 per share |
| Market Price on Buyback Approval | INR 708.6 per share |
| Buyback Premium on Market Price | 34.06% |
| Buyback Offer Size (Shares) | 5,80,000 shares |
| Buyback Offer Size (Amount) | INR 55.10 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
Sportking India Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 21 January 2023 |
| Buyback Approval Date | 27 January 2023 |
| Public Announcement of Buyback | 31 January 2023 |
| Sportking India Buyback Record Date | 10 February 2023 |
| Buyback Opening Date | 15 March 2023 |
| Buyback Closing Date | 28 March 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 30 March 2023 |
| Verification Date by the Registrar | 10 April 2023 |
| Return of unaccepted shares by Registrar | 11 April 2023 |
| Extinguishment of accepted shares | 18 April 2023 |
Sportking India Buyback 2023 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Sportking India Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 9/85 | 10.59 |
| General category (for all other Eligible Shareholders) | 3/76 | 3.95 |
Small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as on record date.
Sportking India Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 1,355.05 | 1,306.24 | 2,154.01 |
| Total Expenses | 1,276.42 | 1,155.12 | 1,586.90 |
| Net income | 12.36 | 84.53 | 409.25 |
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 950 |
| Maximum shares for small shareholder (2,00,000/950) | 211 shares * |
| Closing price of stock as on 27 January 2023 | INR 708.6** |
| Maximum amount invested in buyback (INR 708.6 x 211 shares) | INR 1,49,514.6 |
** For simplicity, we have considered price on buyback approval date
Sportking India Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 211 | 23 | 23 (100%) | 5,552.2 | 3.71 |
| 211 | 23 | 46 (200%) | 11,104.4 | 7.43 |
| 211 | 23 | 69 (300%) | 16,656.6 | 11.14 |
Registrar of Sportking India Buyback 2023
BEETAL FINANCIAL AND COMPUTER SERVICES PRIVATE LIMITED
Beetal House, 3rd Floor
99, Madangir, Behind Local Shopping Centre
Near Dada Harsukh Das Mandir
New Delhi – 110062
Phone:Â +911129961281
Email:Â [email protected]
Website: www.beetalfinancial.com
Manager of Sportking India Buyback 2023
MASTER CAPITAL SERVICES LIMITED
SCO 22-23, Sector 9D,
Madhya Marg, Chandigarh – 160009
Tel: +911724848000
Email: [email protected]
Website: www.mastertrust.co.in
Process to Participate in Sportking India 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 Sportking India’s buyback dates?
Sportking India share buyback opens on 15 March 2023 and closes on 28 March 2023.
Which type of buyback is Sportking India buyback offer?
Sportking India buyback is a tender offer.
What is Sportking India’s buyback price?
Sportking India’s buyback price is INR 950 per share.
What is Sportking India’s buyback record date?
Sportking India’s buyback record date is 10 February 2023.
How to participate in Sportking India share buyback?
Sportking India’s share buyback will be conducted through a tender process and investors who hold the shares on record date can place orders through their broker.
