Pennar Industries Buyback Details: Opening Date, Closing Date, Buyback Price

Pennar Industries Buyback Details: Pennar Industries Limited (PIL), a Hyderabad-based provider of value-added engineering goods and solutions, has announced the buyback of equity shares. Penner Industries Buyback details. Pennar Industries’ Board of Directors approved the buyback of fully paid up equity shares with a face value of Rs 5 each at a price not exceeding Rs 50 per equity share for an aggregate amount of Rs 40 crore at its meeting on March 9, 2022.

Under the Buyback Regulations and the Companies Act, this is payable in cash from the open market via the stock exchange mechanism. Based on the company’s audited consolidated and standalone financial statements as of March 31, 2019, the maximum repurchase size reflects 6.14 percent and 6.16 percent of the company’s paid up equity capital and free reserves, respectively. This complies with Section 68(2) of the Companies Act, which sets a maximum permitted limit of 10% of total paid-up equity share capital and free reserves.

Pennar Industries Buyback
Pennar Industries Buyback

Pennar Industries Buyback Details: Opening Date, Closing Date, Buyback Price

Buyback TypeOpen Market Through Stock Exchange
Buyback Offer AmountRs 40.00 Crores
Date of Public AnnouncementTo be announced
Buyback Offer SizeRs. 50 per share
Face ValueRs 5 Per Equity Share
Listing BoardBSE, NSE

About Pennar Industries Limited Buyback

Pennar Industries is a leading provider of value-added engineering goods and services in India. Infrastructure, Automobiles, Power, General Engineering, and Building & Construction are all areas where it has a substantial market presence.

More than 1000 precision engineering products and 2500 tools and dies are included in the company’s product portfolio. Patancheru, Sadashivpet, lsnapur, Velchal, and Mallapur near Hyderabad, Chennai in Tamil Nadu, and Tarapur in Maharashtra are the company’s current manufacturing factories.

Pennar Industries Limited Buyback FAQs

When is Pennar Industries Buyback offer coming?

The open and close dates for the Pennar Industries Buyback are currently unavailable.

Which type of buyback is Pennar Industries Buyback offer?

The Pennar Industries Buyback is a Open Market Through Stock Exchange.

What is the schedule of activities for Pennar Industries Buyback?

At this moment, the Pennar Industries Buyback deadlines are unavailable.

What is the offer price for Pennar Industries Buyback offer?

Pennar Industries is offering a buyback at a price of Rs 50 per equity share.

What is the issue size of Pennar Industries Buyback?

Pennar Industries Repurchase has announced a buyback for a sum not exceeding Rs. 40.00 crores at a price of Rs. 50 per share.

How do I take part in the Pennar Industries Buyback?

Through their Stock Broker, any eligible Shareholders of the Company owning either Physical Shares 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.

Is the Pennar Industries Buyback a good idea or a poor idea for apply?

Pennar Industries Buyback provides shareholders with the opportunity to sell their stock 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.

Who is the registrar for Pennar Industries Buyback?

KFintech Private Limited is the registrar for Pennar Industries Buyback.