eClerx Services Buyback 2021 was announced on 13 August 2021. The eClerx Services buyback is to start from 18 October and close on 31 October 2021. The Company will do Buyback with equity of 9,46,875 Equity Shares around 20.59% of Face Value Rs. ₹10/ Each Fully paid off at a Price Of Rs. ₹3200/- Per Equity. The size of this Buyback is about ₹303 Crores. And this will be done through a Buyback Tender Offer.
eClerx was founded in 2000 by Anjan Malik and PD Mundhra with the goal of transitioning, managing, and transforming complex business processes. Following successful careers in investment banking, Anjan and PD, graduates of the University of Pennsylvania’s Wharton School of Business, jointly identified significant opportunities for providing innovative services and solutions to large global companies undergoing rapid business transformation challenged by legacy systems, new technology, data inaccuracies, and ever-changing processes and workflows. Created from humble beginnings in a small office in Mumbai, today eClerx employs 11,000 people across Australia, Canada, Germany, India, Italy, Netherlands, Philippines, Singapore, Thailand, UK, and the USA.
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eClerx Services buyback 2021 Offer Details:
| Event Name | Details |
| Buyback Type | Tender Offer |
| Buyback Record Date | 30 September 2021 |
| Buyback Offer Amount | ₹303 Cr |
| Date of Board Meeting approving the proposal | 13 August 2021 |
| Date of Public Announcement | 13 August 2021 |
| Buyback Offer Size | 20.59% |
| Buyback Number of Shares | 9,46,875 |
| Price Type | Tender Offer |
| Face Value | ₹10/- Rs. |
| Buyback Price | ₹3200/- per share. |
EClerx Services Buyback 2021 Important Dates
We have covered all important dates related to “EClerx Services Buyback 2021” Buyback Activity Dates are updated as they are announced.
| Buyback Activity | Dates |
| Board Meeting for Buyback proposal | 13 August 2021 |
| Buyback Approval date | 13 August 2021 |
| Public Announcement Date | 13 August 2021 |
| Buyback Record Date | 30 September 2021 |
| Buyback Opening Date | 18 October 2021 |
| Buyback Closing Date | 31 October 2021 |
Details Of The Buyback Offer and Offer Price :
The Board approved the proposal of buyback of fully paid-up equity shares of face value ~ 10 (Rupees Ten only) each of the Company (“Equity Shares”) for an amount not exceeding ~ 3,030 Million (Rupees Three Thousand and Thirty Million only) excluding any expenses incurred or to be incurred for the buyback viz. brokerage costs, fees, turnover charges, taxes such as securities transaction tax and goods and services tax (if any), tax on distributed income on buyback, stamp duty, advisors fees, filing fees, public announcement expenses printing and dispatch expenses, if any, and other incidental and related expenses and charges, etc. (“Transaction Costs”) (“Maximum Buy Back Size”), is 24.98% and 20.59%.
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The aggregate of the total paid-up Equity Share capital and free reserves of the Company based on the latest standalone and consolidated audited financial statements of the Company respectively as on March 31, 2021, at a buyback price not exceeding ~ 3,200/- (Rupees Three Thousand and Two Hundred only) per Equity Share (“Maximum Buy Back Price”), payable in cash, from the shareholders/ beneficial owners of the Equity Shares of the Company as on a record date to be subsequently decided by the Board/Buy Back Committee as may be formed by the Board (“Record Date”), through the “tender offer” route, on a proportionate basis as prescribed under
The Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“SEBI Buy Back Regulations”) provided that 15% (fifteen percent) of the number of Equity Shares which the Company proposes to Buy-Back or number of Equity Shares entitled as per the shareholding of small shareholders as on the Record Date, whichever is higher, shall be reserved for the small shareholders as prescribed under the SEBI Buy Back Regulations (hereinafter referred to as the “Buy Back”). At the Maximum Buy Back Price i.e. ~ 3,200/- (Rupees Three Thousand and Two Hundred only) per Equity Share and for Maximum Buy Back Size i.e. ~ 3,030 Million (Rupees Three Thousand and Thirty Million only).
The indicative maximum number of Equity Shares proposed to be bought back would be 9,46,875 (Nine lakhs Forty-Six Thousand Eight Hundred and Seventy-Five) Equity Shares (“Indicative Maximum Buy Back Shares”). However, the actual bought back shares may exceed the Indicative Maximum Buy Back Shares, if the Buy-Back price fixed by the Buy-Back Committee is less than the Maximum Buy-Back Price, subject to not exceeding 25% of the total number of Equity Shares in the paid-up Equity Share capital of the Company and the amount utilized shall not exceed Maximum Buy Back Size
Buyback Public Announcement Link :
Buyback Public Announcement Link
Registrar of The Buyback :
KFintech Private Limited
Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda,
Gachibowli, Hyderabad, Telangana
India – 500 032.
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://karisma.kfintech.com/
Manager of The Buyback :
Emkay Global Financial Services Ltd
Company Address :
eClerx Services Limited
Sonawala Building, 1st floor
29 Bank Street fort
Mumbai – 400023 Maharastra
Tel: +91 22 66148301
Fax: +91 22 66148655
website: https://eclerx.com/
How to Participate in EClerx Services Ltd buyback?
The Investors are eligible for the buyback scheme who have EClerx Services shares in their Demat account as the Record Date is 30 September 2021 as the offer is Tender Offer. Investors can participate in the EClerx Services Buyback 2021 scheme as per the opening form by selling their shares. The payment will be given as per the accepted shares by the company under the EClerx Services buyback scheme.
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eClerx Services Buyback 2021 FAQs:
When is the eClerx Services Buyback Announcement Date?
eClerx Services buyback 2021 announcement date is 13 August 2021.
When is eClerx Services Buyback Open Date?
eClerx Services buyback Open date is 18 October 2021.
When is eClerx Services Buyback Close Date?
eClerx Services buyback Close date is 31 October 2021.
When is eClerx Services Buyback Record Date?
eClerx Services buyback 2021 Record date is 30 September 2021.
What is eClerx Services Buyback Price?
eClerx Services company has fixed the price at ₹3200 per share.
What is eClerx Services Buyback Offer Size?
eClerx Services company Buyback Offer Size is ₹303 Cr.
How to apply for eClerx Services Buyback 2021?
As per the record date you need to have eClerx Services shares in your Demat account. You can participate in buyback after having the stock in your account.
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