The bare-hit agriculture stock announced a buyback of shares at a 45% premium. Key details in 10 points

 

• Buyback of shares: Agriculture company has announced buyback at ₹700 per equity share

Kaveri Seed Buyback 2022: The board of directors of India's largest agriculture company, which specializes in hybrid seeds in major Indian crops, announced the buyback of shares in the last week. The Agricultural Company Board announced this buyback of shares at a price not exceeding ₹700 per share, which means the offer has been made at a premium of around 45 per cent as the share price of Kaveri Seed Company on Friday was ₹700 per share on NSE. It ended at 482.50 level. , The buyback will be done through the open market route, Kaveri Seeds Company Ltd announced in its latest exchange filing.

Informing the Indian stock exchanges about the buyback of shares, Kaveri Seeds Company Limited said, "The Board in its meeting today considered and approved the proposal for buyback of fully paid-up equity shares of the Company. , having a face value of ₹ 2/- The aggregate amount does not exceed ₹ 125.6 crore, including expenses incurred or to be incurred for the buyback such as brokerage, costs, foot turnover charges, buyback tax, securities transaction tax, goods and Includes taxes like service tax (if any) and income tax, stamp duty, advisory fee, printing expenses, filing charges and other incidental and related expenses and charges, and payable in cash from its shareholders / beneficial owners from the open market ₹ 700/- plus.

Here we list the important Kaveri seed buyback details in 10 points:

1] Kaveri Seeds Buyback Price: The company has announced buyback of shares in excess of ₹700 per equity share.

2] Kaveri Seed Buyback Premium: Today the share price of Kaveri Seeds is ₹482.50 and the buyback offered price is ₹700, which means that the buyback premium available is around 45 percent.

3] Kaveri Seeds Buyback Size: The company has announced to utilize its reserves of over ₹125.65 crore for this buyback offer.

4] Kaveri Seed Buyback Route: The Company will execute this buyback offer through the open market route.

5] Kaveri Seed Buyback Size in Shares: The buyback will not go beyond 17.95 lakh shares of the company, which is 3.08 per cent of the current paid-up capital of the company.


6] Kaveri Seeds Buyback Time: In any case, the buy-back period will close within six months from the date of opening of the offer.

7] Kaveri Seeds Buyback Compliance Officer: The Agricultural Company Board has appointed KV Chalapathi Reddy as the Compliance Officer for the buyback offer.

8] Kaveri Seeds Buyback Record Date: The company is yet to announce the buyback record date.

9] Kaveri Seeds Buyback Subscription Date: The company is yet to announce the date of opening the buyback offer.

10] Kaveri Seed Buyback Acceptance Ratio: Acceptance ratio of the offer is expected to be low as the stock is bearish and more number of people are expected to apply for this buyback offer.