Last updated on September 7, 2024
Symphony Buyback Record Date is 21 August 2024.Â
Symphony, an Indian multinational electronics giant founded in 1988 and headquartered in Ahmedabad, is renowned for its expertise in air cooler manufacturing. As a public limited company, Symphony operates in approximately 60 countries and holds the title of the world’s largest producer of evaporative air coolers.
The company offers a wide array of cooling solutions, including residential, mobile commercial, packaged, and central air systems, catering to both domestic and industrial clients worldwide. Symphony places a strong emphasis on research and development, utilizing cutting-edge engineering technology and innovation to craft market-leading products known for their design ingenuity, energy efficiency, unique styling, and customer-first approach.
Symphony boasts a robust global presence, with 25-30% of its revenue generated from international markets spanning Mexico, Europe, the United States, West Asia, and Southeast Asia.
Symphony Buyback Record Date, Other Details
| Symphony Buyback Dates | 27 Aug – 2 Sep 2024 |
| Symphony Buyback Price | INR 2,500 per share |
| Market Price on Buyback Approval | INR 1,463.20 per share |
| Buyback Premium on Market Price | 70.86% |
| Buyback Offer Size (Shares) | 2,85,600 shares |
| Buyback Offer Size (Amount) | INR 71.40 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Symphony Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 1 August 2024 |
| Buyback Approval Date | 6 August 2024 |
| Public Announcement of Buyback | 8 August 2024 |
| Symphony Buyback Record Date | 21 August 2024 |
| Buyback Opening Date | 27 August 2024 |
| Buyback Closing Date | 2 September 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 2 September 2024 |
| Verification Date by the Registrar | 5 September 2024 |
| Return of unaccepted shares by Registrar | 9 September 2024 |
| Extinguishment of accepted shares | 19 September 2024 |
Symphony Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Symphony Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 10/421 | 2.38 |
| General category (for all other Eligible Shareholders) | 3/830 | 0.36 |
A small shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Symphony Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Total Income | 641.0 | 885.0 | 796.0 |
| Total Expenses | 527.0 | 709.0 | 644.0 |
| Net Income | 111.0 | 165.0 | 153.0 |
Calculation of Investment in Buyback
| Maximum market value of a shareholder as on record date | INR 2,00,000 |
| Buyback price per share | INR 2,500 |
| Maximum shares for small shareholders (2,00,000/2,500) | shares 80* |
| The closing price of the stock as of 6 August 2024 | INR 1,463.20** |
| Maximum amount invested in buyback (INR 1,463.20 x 80 shares) | INR 1,17,056 |
**Â For simplicity, we have considered the price on the buyback approval date
Symphony Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 80 | 2 | 2 (100%) | 2,073.6 | 1.77 |
| 80 | 2 | 4 (200%) | 4,147.2 | 3.54 |
| 80 | 2 | 6 (300%) | 6,220.8 | 5.31 |
Registrar of Symphony Buyback 2024
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 911 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Manager of Symphony Buyback 2024
AMBIT PRIVATE LIMITED
Ambit House, 449, Senapati Bapat Marg,
Lower Parel, Mumbai 400013, Maharashtra
Telephone:Â +91 22 6623 3030
Email:Â [email protected]
Website:Â www.ambit.co
The 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 27 August 2024 and closes on 2 September 2024.
Which type of buyback is Symphony’s buyback offer?
Symphony buyback is a tender offer.
What is the Symphony buyback price?
Symphony buyback price is INR 2,500 per share.
What is the Symphony buyback record date?
Symphony buyback record date is 21 August 2024.
How to participate in Symphony share buyback?
Symphony share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
