Shriram Pistons and Rings Buyback 2021 was announced on 30 July 2021. The Shriram Pistons and Rings buyback is to start from 17 September 2021 and closes on 30 September 2021. The Company will do Buyback with equity of 3,50,000 Equity Shares around 1.56% of Face Value Rs. ₹10/ Each Fully paid off at a Price Of Rs. ₹1020/- Per Equity. The size of this Buyback is about ₹35.70 Crores. And this will be done through a Buyback Tender Offer.
SPR is the largest exporter of Pistons and Rings from India to discerning customers, including Ford, Honda, Kia, Renault, WABCO and has the ‘Trading House’ status from the Government of India. Development and manufacturing of the latest technology products for OEMs in Europe, the USA, etc. challenge the enterprise to hone its manufacturing processes, technology, and quality to global standards. This acts as a catalyst to transform the entire organization. Not surprisingly, SPR and USHA are also amongst the best-recognized brand names in the aftermarket abroad.
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Shriram Pistons and Rings buyback 2021 Offer Details:
| Event Name | Details |
| Buyback Type | Tender Offer |
| Buyback Record Date | 12 August 2021 |
| Buyback Offer Amount | ₹35.70 Cr |
| Date of Board Meeting approving the proposal | 30 July 2021 |
| Date of Public Announcement | 3 August 2021 |
| Buyback Offer Size | 1.56% |
| Buyback Number of Shares | 3,50,000 |
| Price Type | Tender Offer |
| Face Value | ₹10/- Rs. |
| Buyback Price | ₹1020/- per share. |
Shriram Pistons and Rings Buyback 2021 Important Dates
We have covered all important dates related to “Shriram Pistons and Rings Buyback 2021” Buyback Activity Dates are updated as they are announced.
| Buyback Activity | Dates |
| Board Meeting for Buyback proposal | 30 July 2021 |
| Buyback Approval date | 30 July 2021 |
| Public Announcement Date | 3 August 2021 |
| Buyback Record Date | 12 August 2021 |
| Buyback Opening Date | 17 September 2021 |
| Buyback Closing Date | 30 September 2021 |
Details Of The Buyback Offer and Offer Price :
The Board of Directors of the Company (hereinafter referred to as the “Board”), at its meeting, held on July 30, 2021 (“Board Meeting”), subject to approvals of statutory, regulatory, or governmental authorities as may be required under applicable laws, approved the proposal for the buyback of not exceeding 3,50,000 (Three Lakh Fifty Thousand) Equity Shares, representing up to 1.56% of the total number of Equity Shares in the paid-up share capital of the Company, at a price of INR 1,020/- (Rupees One Thousand Twenty only) per Equity Share (“Buyback Price”) payable in cash, for an aggregate amount not exceeding INR 35,70,00,000/- (Rupees Thirty-Five Crore Seventy Lakh only) (“Buyback Size”) from all the equity shareholders/ beneficial owners of the Company.
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The Equity Shares are listed on NSE. The Buyback shall be undertaken on a proportionate basis from all the equity shareholders / beneficial owners of the Company, including the members of the Promoter Group, who hold Equity Shares as of August 12, 2021 (the “Record Date”) (such shareholders “Eligible Shareholders”) through the tender offer process prescribed under Regulation 4(iv)(a).
The maximum amount required for Buyback will not exceed INR 35,70,00,000/- (Rupees Thirty-Five Crore Seventy Lakh only) (excluding Transaction Costs). The Buyback Size constitutes 3.25% and 3.25% of the aggregate of the total paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements of the Company as at March 31, 2021, respectively, which is within
the statutory limit of 10% of the total paid-up equity share capital and free reserves of the Company as of March 31, 2021, and is in compliance with Regulation 4(i) of the Buyback Regulations and Section 68(2) of the Companies Act.
Buyback Public Announcement Link :
Buyback Public Announcement Link
Registrar of The Buyback :
Alankit Assignments Limited
Address: 4E/2, Alankit House, Jhandewalan Extn., New Delhi-110055
Tel. no.: +91 11 4254 1234
Fax no.: +91 11 2355 2001
Email: [email protected], [email protected]
Contact person: Abhinav Kumar Agrawal
Manager of The Buyback :
Edelweiss Financial Services Limited
th Address: Edelweiss House, 6 Floor, off CST Road, Kalina, Mumbai – 400 098
Tel. no.: +91 22 4009 4400
Fax no.: + 91 22 4086 3610
Email: [email protected]
Contact person: Dhruv Bhavsar
Company Address :
Shriram Pistons and Rings Limited
3 Floor, Himalaya House, 23,
Kasturba Gandhi Marg,
New Delhi – 110001, India
Contact Person: Mr. Naveen Agarwal,
Tel No.:+91 11 2331 5941
Fax No.: +91 11 2331 1203
E-mail: [email protected]
Website: www.shrirampistons.com
How to Participate in Shriram Pistons and Rings Ltd buyback?
The Investors are eligible for the buyback scheme who have Shriram Pistons and Rings shares in their Demat account as the Record date. Investors can participate in the Shriram Pistons and Rings 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 Shriram Pistons and Rings buyback scheme.
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Shriram Pistons and Rings Buyback 2021 FAQs:
When is Shriram Pistons and Rings Buyback Announcement Date?
Shriram Pistons and Rings buyback 2021 announcement date is 30 July 2021.
When is Shriram Pistons and Rings Buyback Open Date?
Shriram Pistons and Rings buyback Open date is 17 September 2021.
When is Shriram Pistons and Rings Buyback Close Date?
Shriram Pistons and Rings buyback Close date is 30 September 2021.
When is Shriram Pistons and Rings Buyback Record Date?
Shriram Pistons and Rings buyback 2021 Record date is 12 August 2021.
What is Shriram Pistons and Rings Buyback Price?
Shriram Pistons and Rings company has fixed the price at ₹1020 per share.
What is Shriram Pistons and Rings Buyback Offer Size?
Shriram Pistons and Rings company Buyback Offer Size is ₹35.70 Cr.
How to apply for Shriram Pistons and Rings Buyback 2021?
As per the record date you need to have Shriram Pistons and Rings shares in your Demat account. You can participate in buyback after having the stock in your account.
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