Shervani Industrial Syndicate of ₹6.83 crores approved by the board of directors at the meeting was held on February 23, 2024 Shervani Industrial Syndicate will be done via the Tender Offer route through the stock exchange mechanism. The board of directors of the company approved the buyback by the Company of its fully paid-up equity shares having a face value of ₹10 each equity share at a price of ₹510 per Equity Share and for an aggregate amount not exceeding ₹6.83 crores from the shareholders. Check out Shervani Industrial Syndicate Buyback 2024 details below:
Shervani Industrial Syndicate Limited was incorporated in 1948 by Late M.R. Shervani. The company was engaged in the manufacturing of Geep brand Torches & Drycell Batteries. Company’s Chairman is Mr Saleem Iqbal Shervani is Former Union Minister, Govt. of India and its Managing Director is Mr. Mustafa Rashid Shervani. The company has diversified its activities in the area of Real Estate. After successful completion of its maiden real estate project “Sterling Apartments” at Muir Road, Prayagraj, now the Company is developing its own land at Shervani Nagar, Sulem Sarai, Allahabad. The project is named as “Shervani Legacy” which is a planned and duly approved residential gated colony by the Prayagraj Development Authority with full developed infrastructure facilities and having residential plots, commercial area, Group Housing and School. Shervani Legacy campus is having approx. 50% open area which comprises, Park, playground, pond for rain water harvesting and wide road with pathways.
Shervani Industrial Syndicate History
- N/A
Shervani Industrial Syndicate Buyback 2024 Dates
| Buyback Meeting Date: | February 23, 2024 |
| Buyback Announcement Date: | February 23, 2024 |
| Buyback Record Date: | March 07, 2024 |
| Last Date to Buy Shares: | March 6, 2024 |
| Buyback Open Date: | March 13, 2024 |
| Buyback Close Date: | March 20, 2024 |
| Finalization of Buyback Acceptance: | March 26, 2024 |
Shervani Industrial Syndicate Buyback 2024 Offer Details
Shervani Industrial Syndicate of 134,000 equity shares at a price of ₹510 per equity share. The buyback offers not to exceed ₹6.83 crores of the total buyback offer size.
| Offer Amount: | ₹6.83 Crores |
| Number of Shares: | 134,000 Equity Shares |
| Face Value: | ₹10 per equity share |
| Buyback Price: | ₹510 per equity share |
| Listing: | BSE |
| Buyback Type: | Tender Offer |
| Letter of Offer: | Click Here |
Shervani Industrial Syndicate Buyback 2024 Acceptance Ratio
The investor should buy around 392 shares at a current market price of ₹584 (as of date). The calculation will be ₹2,00,000 / 510 buyback price = 392 shares.
| Acceptance Ratio | Investment | Shares Buyback | Profit |
| 33% | – | – | – |
| 50% | – | – | – |
| 75% | – | – | – |
| 100% | – | – | – |
Shervani Industrial Syndicate Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹32 | ₹27 | ₹7 |
| 2022 | ₹9 | ₹12 | ₹-3 |
| 2023 | ₹27 | ₹23 | ₹24 |
How to Participate in Shervani Industrial Syndicate Buyback 2024
Firstly, to be eligible for the buyback the investor should have shares of Shervani Industrial Syndicate in Demat or physical form as on the record date [07-03-2024].
Once you have shares in Demat, you can participate in the buyback process which is opening from [13-03-2024] by selling your shares through your broker on NSE or BSE.
Then on [20-03-2024], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Shervani Industrial Syndicate Buyback 2024 Registrar
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/initial_offer/public-issues.html
Shervani Industrial Syndicate Buyback 2024 Lead Managers
- Sumedha Fiscal Services Limited
Shervani Industrial Syndicate Company Address
Shervani Industrial Syndicate Limited
Shervani Nagar, Sulem Sarai
Harwara,
Prayagraj-211015
Phone: 91-7311128115
Email: [email protected]
Website: http://www.shervaniind.com/
How to Apply the Shervani Industrial Syndicate through Zerodha?
Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on Corporate Actions. You will see the Company Name “Shervani Industrial Syndicate”. Click on Place Order. Enter your Quantity and submit Shervani Industrial Syndicate Application Form.
How to Apply the Shervani Industrial Syndicate through Upstox?
Log in to Upstox Application with your credentials. Select the Shervani Industrial Syndicate. You will see the Company Name “Shervani Industrial Syndicate”. Click on Shervani Industrial Syndicate Stock for Buyback. Enter your Quantity and submit Shervani Industrial Syndicate Application Form.
How to Apply the Shervani Industrial Syndicate through Shervani Industrial Syndicate Paytm Money?
Log in to Paytm Money Application with your credentials. Select the Shervani Industrial Syndicate. Enter your Quantity and submit Shervani Industrial Syndicate Application Form.
