IndiaMART InterMESH Buyback Details: On April 28, 2022, IndiaMART announced a buyback programme. The record date for IndiaMART buybacks is May 11, 2022. To be eligible for the buyback, the investor must purchase IndiaMART shares on or before the record date.
160,000 equity shares were purchased by IndiaMART at a price of Rs. 6,250 per equity share. The total value of the buyback offers must not exceed Rs. 100 crores.
With a target price of Rs 7000, HDFC Securities has issued a buy call on IndiaMART InterMESH. IndiaMART InterMESH is now priced at Rs 4845 in the market. IndiaMART InterMESH’s stock jumped 7% today after the company said that its board of directors will examine a share purchase on April 28. On the BSE, IndiaMART InterMESH rose 6.98% to Rs 5144.95 today, from a previous close of Rs 4809.20. The stock of IndiaMART InterMESH is trading above the 5 day, 20 day, and 50 day moving averages, but below the 100 and 200 day moving averages.
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IndiaMART InterMESH Buyback Date
The Issue Period of IndiaMART InterMESH Buyback is (To be announced). This buyback share will open on (To be announced) and closing date is (To be announced). IndiaMART InterMESH record date is 11 May 2022. IndiaMART InterMESH Buyback Issue Type is Tender Offer.
IndiaMART InterMESH Buyback Price
The Issue Price of IndiaMART InterMESH Buyback is Rs 6250 per share. This buyback share will list on BSE & NSE. IndiaMART InterMESH face value is Rs 10Per Equity Share.
IndiaMART InterMESH Ltd is an e-commerce company that provides B2B and customer-to-customer sales services. It was founded in 1999. There are 143 million buyers, 7 million suppliers, and 80 million products and services available through the company. As of January 25, 2022, IndiaMART had 3,185 employees spread over 32 offices across the country.
Income from Information Services is one of IndiaMART InterMESH’s primary products/revenue segments for the year ending 31-Mar-2021.
The company recorded a Consolidated Total Income of Rs 230.90 crore for the quarter ended 31-03-2022, up 9.95 percent from the previous quarter; Total Income of Rs 210 crore, up 21.46 percent from the same period last year. In the most recent quarter, the company generated a net profit after tax of Rs 63.20 crore.
IndiaMART InterMESH Buyback FAQs
What is IndiaMART InterMESH Buyback price?
The IndiaMART InterMESH Buyback price is set at Rs 6250 Per Share. IndiaMART InterMESH Buyback will start on (To be announced) and end on (To be announced).
How do I get the Tender Form for IndiaMART InterMESH Buyback?
The Letter of Offer includes a Tender Form. It is communicated to eligible shareholders through email on their depositories’/Company’s registered email addresses.
If the email address is not recorded, the Tender form/Letter of Offer is mailed to eligible shareholders on the record date through registered mail, speed mail, or courier.
Alternatively, the Tender Form and Letter of Offer can be found on the Company’s, Registrar to the Buyback’s, Stock Exchanges’, and Manager to the Buyback’s websites.
Where can I get the Letter of Offer for IndiaMART InterMESH Buyback?
The Letter of Offer for IndiaMART InterMESH Buyback can be download here.
How to participate in for IndiaMART InterMESH Buyback?
Through their Stock Broker, any eligible Shareholders of the Company owning either Physical or Demat Shares as of the Record Date can participate in the repurchase offer.
The eligible shareholder must advise their broker of the information of the Equity shares they desire to tender in the Buyback Offer if they hold the shares in Demat form. 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.
Original share certificates and supporting paperwork must be presented to the broker by the qualifying shareholder who owns the shares in physical form. The broker executes an order on the stock market when document verification is completed and submits the original share certificate and TRS to the registrar.
In the case of Demat shares, the tender form and TRS are optional, while in the case of physical shares, they are required.
Why is IndiaMART InterMESH Buyback coming up with buyback?
Necessity of the Issue:
The buyback is being undertaken for the following reasons:
1. The Buyback will help the company to distribute surplus cash to its shareholders holding Equity shares broadly to the proportion of their shareholding, thereby, enhancing the overall return to shareholders.
2. The Buyback would help in improving its return on equity, by reducing the equity base, thereby leading to a long term increase in shareholders’ value.
Is IndiaMART InterMESH Buyback good or bad?
The IndiaMART InterMESH Buyback allows shareholders to sell their shares at a higher price. If you stay invested, you will have a higher percentage of the company’s stock and higher earnings per share. To decide whether to stay invested or participate in the repurchase offer, one must first analyse the company’s fundamentals, as well as one’s needs, ambitions, and risk appetite.
What is opening date for IndiaMART InterMESH Buyback?
The IndiaMART InterMESH Buyback opening date is (To be announced).
What is record date for IndiaMART InterMESH Buyback?
The IndiaMART InterMESH Buyback record date is May 11, 2022.
What is the issue size of IndiaMART InterMESH Buyback?
IndiaMART InterMESH Buyback issue size is a Rs. 100 Crores.
What is Buyback Price of IndiaMART InterMESH Buyback?
IndiaMART InterMESH Buyback issue price is a Rs. 6250 per share.