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Axita Cotton Buyback May 2023

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Axita Cotton Buyback May 2023

Axita Cotton Limited (BSE:542285, NSE:AXITA) is taking shares from investors via Buyback Offer. Do you wish to tender your shares for Axita Cotton Buyback May 2023? The company has announced a buyback price of Rs 56. Buyback Announced on TBD, the Record Date for the eligible investor is 02-06-2023.

Axita Cotton Limited Buyabck Tender process starts from 08-06-2023 and end on 14-06-2023.

Acceptation Ratio for retail investor (Holding Shares worth of less than Rs 2 Lakhs on Record date) is %.

The summary report of Axita Cotton Limited buyback contains overview, record date, tender dates, buyback size, buyback price, approximate entry level for new investors, date of extinguishment of Equity Shares, Entitlement Ratio for retail and general category.

Axita Cotton Limited Buyback

TitleDetail
Company Name:Axita Cotton Limited
Buyback Type:Tender Offer
Offer Amount:₹5.04Cr
Buyback Number of Shares:9,00,000
Buyback Price:56
Approx Entry Price:27.5
Promoters In:Y
Record Date:02-06-2023
Buyback Open Date:08-06-2023
Buyback Close Date:14-06-2023
Payment Date:21-06-2023
Record Date Price:29.95
Maximum Retail Quantity:6677
Draft Letter of Offer:Draft Letter of Offer
Letter of Offer:-
Acceptance Ratio Retail:-
Acceptance Ratio Retail %:
Acceptance Ratio General:-
Acceptance Ratio General %:
Final Acceptance Ratio %:-

FAQs

The Record Date for Axita Cotton Limited Buyback offer is 2nd Jun 2023

Which means you should hold the Axita Cotton Limited share in your demat account by closing session of 2nd Jun 2023. Share purchased on and before (2nd Jun 2023) - 2 business days will be available in your demat account by 2nd Jun 2023.

 

Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Axita Cotton Limited shares at ₹27.5 and buyback offer price is ₹56, you can get ₹28.5 per accepted share. If you hold 7273 shares of Axita Cotton Limited and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 2400 to 3636 shares with the gain from buyback of ₹68400 to ₹103626.

The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that company buys all of your shares.

Axita Cotton Limited Buyback Profit Calculation

% Share AcceptedNo of Shared AcceptedGain from Buyback Offer
33%2400₹68400
50%3636₹103626
75%5455₹155468
100%7273₹207280

 

Steps to participate in Axita Cotton Limited buyback:

  1. On Record date (2nd Jun 2023) you must have share of Axita Cotton Limited in your demat account/physical form. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
  2. After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
  3. Next step is with registrar - depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.

 

Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.

 

Buyback opening date for Axita Cotton Limited: 8th Jun 2023

Buyback closing date for Axita Cotton Limited: 14th Jun 2023

This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by .

 

As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before 21st Jun 2023.

 

Buyback opening date for Axita Cotton Limited: 8th Jun 2023

Buyback closing date for Axita Cotton Limited: 14th Jun 2023

This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by .

 


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