Dhanuka Agritech has announced a buyback offer starting tomorrow, aiming to repurchase 500,000 equity shares at ₹2,000 each, totaling ₹100 crore. The buyback, open from August 22 to August 28, 2024, is intended for fully paid-up shares via the tender offer route.
The company’s board approved this buyback on August 2, 2024, targeting 8.04% of the paid-up share capital. Each share targeted for buyback has a face value of ₹2. This initiative is part of Dhanuka Agritech’s effort to enhance shareholder value, a leading player in India’s agro-chemical industry.
Checkout other buyback offers here: Upcoming Buyback Shares
Essential documents for both demat and physical shareholders, such as the letter of offer and tender forms, will be available on various online platforms including the company’s website, SEBI, BSE, NSE, the buyback manager’s site at Sundae Capital, and the registrar’s site at Bigshare Online.
The buyback terms include specific allotment ratios: small shareholders can tender 3 shares for every 28 held, while other eligible shareholders can tender 5 shares for every 528 held. A ‘small shareholder’ is defined as one whose holdings do not exceed a market value of ₹200,000 based on the record date’s closing prices.
Dhanuka Agritech believes the buyback will not materially affect its profitability or earnings, aside from reducing funds available for other investments. On the trading front, shares of the company experienced a 2.26% rise, trading at ₹1,782.65 on the BSE during Wednesday’s afternoon session.
