Symphony Buyback 2023 Record Date, Buyback Price, Entitlement Ratio

Symphony Buyback 2023

Symphony Buyback 2023 description – Incorporated in 1988, Symphony is engaged in the manufacturing and trading of residential, commercial, and industrial air coolers in the domestic and international markets. It is the largest air cooler manufacturer in the world. 97% of the revenue comes from the sale of Air coolers.

The company outsources manufacturing and has long-standing engagements with 10+ vendors in India and abroad. It has one manufacturing facility in North America.

The company has 30000+ dealers and 1000+ distributors, having increased its presence from 500 towns to 5000+ towns in the last 8 years. It also has a presence in 60+ Countries.

Geographical Revenue Break up – FY 2022

  • India – 49%
  • Australia – 22%
  • USA – 13%
  • Mexico -10%
  • Rest of the World – 6%
Symphony Buyback

Symphony Share Buyback 2023 Details

Symphony Buyback Dates3 – 17 May 2023
Symphony Buyback Price INR 2,000 per share
Market Price on Buyback ApprovalINR 1,047.3 per share
Buyback Premium on Market Price90.97%
Buyback Offer Size (Shares)10,00,000 shares
Buyback Offer Size (Amount)INR 200 crore
Offer TypeTender
Promoter ParticipationYes
Face Value INR 2 per share
Listing AtBSE, NSE

Symphony Buyback Dates (Timeline)

Board Meeting Intimation for Buyback Proposal2 February 2023
Buyback Approval Date8 February 2023
Public Announcement of Buyback17 March 2023
Symphony Buyback Record Date29 March 2023
Buyback Opening Date3 May 2023
Buyback Closing Date17 May 2023
Cut-off Date to receive completed tender forms by Registrar17 May 2023
Verification Date by the Registrar25 May 2023
Return of unaccepted shares by Registrar26 May 2023
Extinguishment of accepted shares2 June 2023

Symphony Buyback 2023 Documents

Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback

Symphony Buyback Entitlement Ratio

Shareholder CategoryEntitlement RatioEntitlement Ratio (in %)
Small Shareholders
(less than INR 2 Lakh on record date)
General category
(for all other Eligible Shareholders)

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

Symphony Financial Performance

FY 2020FY 2021FY 2022
Total Expenses923793911
Net income 182107121
Figures in INR crore unless specified otherwise

Calculation of Investment in Buyback

Maximum market value of a share holder as on record dateINR 2,00,000
Buyback price per shareINR 2,000
Maximum shares for small shareholder (2,00,000/2,000)100 shares *
Closing price of stock as on 8 February 2023INR 1,047.3**
Maximum amount invested in buyback (INR 1,047.3 x 100 shares)INR 1,04,730
* No. of shares stands to change according to the closing price on record date
** For simplicity, we have considered price on buyback approval date

Symphony Buyback Acceptance Ratio

Shares Tendered Buyback EntitlementAcceptance ratioBuyback ProfitProfit in %
1001010 (100%)9,5279.10
1001020 (200%)19,05418.19
1001030 (300%)28,58127.29

Registrar of Symphony Buyback 2023

Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093, Maharashtra
Phone: +912262638200
Email: [email protected]

Manager of Symphony Buyback 2023

Ambit House, 449, Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013
Tel: +91 22 6623 3030
Email: [email protected]

Process to Participate in Symphony 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 Symphony buyback dates?

Symphony share buyback opens on 3 May 2023 and closes on 17 May 2023.

Which type of buyback is Symphony’s buyback offer?

Symphony buyback is a tender offer.

What is Symphony’s buyback price?

Symphony buyback price is INR 2,000 per share.

What is Symphony’s buyback record date?

Symphony buyback record date is 29 March 2023.

What is Symphony buyback acceptance ratio?

Small shareholders are entitled to sell 9 shares to the company for every 92 shares held. Symphony buyback ratio is 1 share out of 80 shares for general category shareholders. Depending on the total number of shares tendered, actual acceptance ratio may be different.


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