Weizmann Buyback 2022 Record Date, Buyback Price, Entitlement Ratio

Last updated on January 27, 2022

Weizmann Buyback 2022 description – Weizmann Limited is the flagship company of the Weizmann Group with business interests in textile processing and exports, fin-tech and renewable energy. The registered office of the company is situated in Mumbai. Weizmann Limited was initially engaged in Textile Processing and Exports, Non Banking Finance Activities and in the early 1990’s commenced Money Changing Business as an FFMC (Full Fledged Money Changer) registered with RBI, under the brand name Weizmann Forex.

The group then commenced money transfer services as representatives of Western Union Money Transfer Services, USA. The group also promoted a housing finance company, Weizmann Homes. Further the group ventured into the Renewable Energy sector by initially manufacturing ‘NedWind’ make wind electric generators and later as renewable energy developers primarily Wind Power and Hydro Power under Karma Energy.

Weizmann Buyback 2022 Details

Buyback Dates	13 – 27 January 2022
Weizmann Buyback Price	INR60 per share
Buyback Offer Size	14,12,515 shares
Offer Amount	INR8.48 crore
Offer Type	Tender
Promoter Participation	Yes
Face Value	INR10 per share
Listing At	BSE, NSE

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Weizmann Buyback Dates (Timeline)

Board Meeting for Buyback Proposal	16 October 2021
Buyback Approval Date	16 October 2021
Public Announcement of Buyback	02 December 2021
weizmann Buyback Record Date	10 December 2021
Buyback Opening Date	13 January 2022
Buyback Closing Date	27 January 2022
Cut-off Date to receive completed tender forms by Registrar	27 January 2022
Verification Date by the Registrar	02 February 2022
Return of unaccepted shares by Registrar	07 February 2022
Extinguishment of accepted shares	14 February 2022

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Registrar of Weizmann Buyback 2022

Bigshare Services Pvt. Ltd.
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis Makwana Road
Marol, Andheri (East)
Mumbai – 400 059
Phone: 022 626 382 00
Fax: 022 626 382 99
Email: [email protected]
Website: www.bigshareonline.com

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Manager of Weizmann Buyback 2022

Keynote Financial Services Limited
The Ruby, 9th Floor, Senapati Bapat Marg
Dadar (West)
Mumbai – 400 028
Phone: +91 22 6826 6000-3
Email: [email protected]
Website: www.keynoteindia.net

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Weizmann Buyback 2022 Documents

Offer Letter
Draft Letter of Offer
Public Announcement
Upcoming Share Buyback

Pre-Buyback Shareholding Pattern of Weizmann

Shareholder Category	No. of shares	% of shares
Promoters	1,19,18,435	69.01
DIIs/MFs	58,175	0.34
FIIs/FPIs/NRIs	83,809	0.48
Bodies corporate	52,11,117	30.17
Grand Total	1,72,71,536	100.00

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Weizmann Buyback Entitlement Ratio

Shareholder Category	Entitlement Ratio	Entitlement Ratio (in %)
Reserved category for Small Shareholders	35/284	12.32
General category for all other Eligible Shareholders	43/557	7.72

Small Shareholder is defined as shareholder who holds shares worth less than INR2,00,000 as on record date.

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Weizmann Limited’s Financial Performance

	FY2019	FY2020	FY2021
Total Income	106.6	96.48	98.28
Total Expenses	95.4	90.4	90.7
Net income	4.9	4.3	8.6

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Necessity of the Buyback

• The buy-back gives an option to the equity shareholders to participate in the buy-back and receive cash in lieu of Equity Shares accepted under the buy-back.
• The buy-back helps to return surplus cash to its shareholders, in proportion to their shareholding, thereby, enhancing the overall returns to shareholders.
• The buy-back would help in improving Earning per share (EPS), Return on asset (ROA) and Return on equity (ROE) ratios of the Company.
• The buy-back, which is being implemented through the Tender Offer route as prescribed under the Buyback Regulations, would involve a reservation for small shareholders as defined in the Buy-back Regulations.

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Process to Participate in Weizmann buyback

All eligible Shareholders of the Company who own Physical Shares or Demat Shares on the Record Date may participate in the buyback offer through their Stock Broker. The eligible shareholder who holds the shares in Demat form must notify their broker 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 shareholder who owns 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.

Working Calculation of Amount Invested in Weizmann Buyback

Maximum market value of a share holder as on record date	INR2,00,000
Buyback price	INR60
Maximum shares of a share holder as on record date (2,00,000/60)	3,333 shares
Closing price of share as on record date (10 December 2021)	INR62.8
Amount Invested in buyback (62.8 x 3,333 shares)	INR2,09,312

Profit from the Weizmann buyback by acceptance ratio

Acceptance ratio	Amount invested in buyback	No. of shares buyback	Buyback Profit	Profit in %
33%	2,09,312	1,100	(3,080)	(1.47)
50%	2,09,312	1,667	(4,667)	(2.23)
75%	2,09,312	2,500	(7,000)	(3.34)
100%	2,09,312	3,333	(9,332)	(4.46)

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Frequently Asked Questions