Technocraft Industries Buyback 2022 description – The company is a manufacturer of drum closures and became the second largest global manufacturer of steel drum closures including other products like seal plugs, gaskets, drum flanges etc.
The company also ventured into manufacturing of plastic closures for small metal and plastic containers and is a dominant player in the engineering sector, tube division and produces high precision scaffolding systems for building construction. Technocraft Industries also diversified into manufacturing of Cotton Yarn and accorded a 100% EoU (Export Oriented Unit) status.Â
Technocraft Industries Share Buyback 2022 Details
| Buyback Dates | 1 – 14 February 2023 |
| Technocraft Industries Buyback Price | INR 1,000 per share |
| Buyback Offer Size (Shares) | 15,00,000 shares |
| Buyback offer as % of total shares | 6.13 % |
| Buyback Offer Size (Amount) | INR 150 Crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
Technocraft Industries Buyback Dates (Timeline)
| Board Meeting for Buyback Proposal | 14 November 2022 |
| Buyback Approval Date | 19 November 2022 |
| Public Announcement of Buyback | 20 December 2022 |
| Technocraft Industries Buyback Record Date | 30 December 2022 |
| Buyback Opening Date | 1 February 2023 |
| Buyback Closing Date | 14 February 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 16 February 2023 |
| Verification Date by the Registrar | 16 February 2023 |
| Return of unaccepted shares by Registrar | 22 February 2023 |
| Extinguishment of accepted shares | 1 March 2023 |
Technocraft Industries Buyback 2022 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Technocraft Industries Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (shares less than INR 2 Lakh) | 33/83 | 39.76 |
| General category (for all other Eligible Shareholders) | 31/581 | 5.34 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Technocraft Industries Ltd’s Financial Performance
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | |
| Total Income | 1,184.91 | 1,227.28 | 1,039.99 | 1,710.77 |
| Total Expenses | 1,012.37 | 1,049.72 | 834.33 | 1,363.17 |
| Net income | 102.35 | 102.69 | 99.29 | 221.73 |
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 1,000 |
| Maximum shares for small shareholder (2,00,000/1,000) | 200 shares* |
| Closing price of stock as on 14 November 2022 | INR 827.20** |
| Maximum amount invested in buyback (INR 827.20x 200 shares) | INR 1,65,440 |
** For simplicity, IPO Central has considered price on buyback approval date
Technocraft Industries Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance | Buyback Profit | Profit in % |
| 200 | 80 | 80 (100%) | 13,828 | 8.36 |
| 200 | 80 | 160 (200%) | 27,648 | 16.71 |
| 200 | 80 | 240 (300%) | 41,472 | 25.07 |
Registrar of Technocraft Industries Buyback 2022
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â +91 810 811 4949
Email:Â [email protected]
Website: www.linkintime.co.in
Manager of Technocraft Industries Buyback 2022
Systematix Corporate Services Limited
The Capital, A-Wing, 6th Floor,
No. 603-606, Plot No. C-70, G-Block,
Bandra-Kurla Complex (BKC), Bandra (East),
Mumbai 400 051, Maharashtra
Tel. No.: +91-22-6704 8000
Email: [email protected]
Website: swww.systematixgroup.in
Process to Participate in Technocraft Industries 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 stock broker. 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
When does Technocraft Industries share buyback offer open?
Technocraft Industries share buyback opens on 1 February 2023 and closes on 14 February 2023.
Which type of buyback is Technocraft Industries buyback offer?
Technocraft Industries buyback is a tender offer.
What is Technocraft Industries buyback price?
Technocraft Industries buyback price is INR 1,000 per share.
What is Technocraft Industries buyback record date?
Technocraft Industries buyback record date is 30 December 2022.
