Weizmann Buyback 2022 Record Date, Buyback Price, Entitlement Ratio

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Weizmann Buyback

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 Dates13 – 27 January 2022
Weizmann Buyback Price INR60 per share
Buyback Offer Size14,12,515 shares
Offer AmountINR8.48 crore
Offer TypeTender
Promoter ParticipationYes
Face Value INR10 per share
Listing AtBSE, NSE

Weizmann Buyback Dates (Timeline)

Board Meeting for Buyback Proposal16 October 2021
Buyback Approval Date16 October 2021
Public Announcement of Buyback02 December 2021
weizmann Buyback Record Date10 December 2021
Buyback Opening Date13 January 2022
Buyback Closing Date27 January 2022
Cut-off Date to receive completed tender forms by Registrar27 January 2022
Verification Date by the Registrar02 February 2022
Return of unaccepted shares by Registrar07 February 2022
Extinguishment of accepted shares14 February 2022

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


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


Weizmann Buyback 2022 Documents

Offer Letter
Draft Letter of Offer
Public Announcement
Upcoming Share Buyback

Pre-Buyback Shareholding Pattern of Weizmann

Shareholder CategoryNo. of shares% of shares
Promoters1,19,18,43569.01
DIIs/MFs58,1750.34
FIIs/FPIs/NRIs83,8090.48
Bodies corporate52,11,11730.17
Grand Total1,72,71,536100.00
Shareholding as on 10 December 2021

Weizmann Buyback Entitlement Ratio

Shareholder CategoryEntitlement RatioEntitlement Ratio (in %)
Reserved category for Small Shareholders35/28412.32
General category for all other Eligible Shareholders
43/5577.72

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


Weizmann Limited’s Financial Performance

FY2019FY2020FY2021
Total Income106.696.4898.28
Total Expenses95.490.490.7
Net income 4.94.38.6
Figures in INR crore unless specified otherwise

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.

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 dateINR2,00,000
Buyback priceINR60
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 ratioAmount invested in buybackNo. of shares buybackBuyback ProfitProfit in %
33%2,09,3121,100(3,080)(1.47)
50% 2,09,3121,667(4,667)(2.23)
75% 2,09,3122,500(7,000)(3.34)
100% 2,09,3123,333(9,332)(4.46)

Frequently Asked Questions

When does Weizmann buyback offer open?

Weizmann buyback opens on 13 January 2022 and closes on 27 January 2022.

What is the timeline of Weizmann buyback 2022?

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

Which type of buyback is Weizmann buyback offer?

Wiezmann Buyback is a tender offer.

What is Weizmann buyback price?

Weizmann Buyback price is INR60 per share.

What is Weizmann buyback record date?

The record date is 10 December 2021.

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