Savita Oil Technologies Buyback will open for subscription from 15 April 2021. the company aims for an issue size of ₹35.14 Crores through this buyback issue.
Savita Oil Technologies Limited
Incorporated in July 1961 as Stauffer Chemicals Private Limited, the Company’s name was changed to Savita Oil Technologies Limited in May 2009 to reflect its core line of business activities. The Company is engaged in the manufacturing and marketing of petroleum specialty products like transformer oils, white oils, lubricating oils, industrial oils, greases, etc. Company has also set up several windmills (ranging in capacities from 350 KW to 1650 KW) in Maharashtra, Karnataka, and Tamil Nadu to generate wind energy.
The Company sells its products in the domestic and international markets. Savita Oil Technologies launched its lubricating oil brand SAVSOL in the retail domestic market in 2007. The Company supplies; Transformer Oil to most of the electricity boards and big transformer manufacturers, Lubricating Oils to most of the leading two-wheeler OEMs (Original Equipment Manufacturers), and White Oils to the top FMCG companies and has developed a niche for quality products over the years.
Objects of the Issue
- To enhance the equity shareholders returns.
- To improve financial ratios like earnings per share, return on equity, by reduction in the equity base.
Savita Oil Technologies Buyback Issue Timetable
| Offer Opens On | 15 April 2021 |
| Offer Closes On | 29 April 2021 |
| Record Date | 05 March 2021 |
| Last Date for receipt of Tender Forms | 03 May 2021 |
| Finalisation of Buyback Acceptance | 07 May 2021 |
| Last Date for settlment of bids | 10 May 2021 |
| Last Date for Extinguishment of Shares | 17 May 2021 |
Savita Oil Technologies Buyback Details
| Security Name | Savita Oil Technologies Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 0.03 Crores |
| Issue Size (Amount) | ₹35.14 Crores |
| Buyback Price | ₹1400 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Buyback Ratio
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 21 Equity Shares held on the Record Date |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 62 Equity Shares held on the Record Date |
Company Financials
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 2,05,778.42 | 2,28,091.73 | 1,83,418.04 |
| Profit After Tax | 9,564.24 | 11,427.01 | 12,619.59 |
| Net Worth | 86,858.47 | 85,160.48 | 74,230.93 |
Stock Market Data (for preceding 3 months)
BSE
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 745 | 655.1 | 700.14 |
| Dec-2020 | 800 | 695 | 724.13 |
| Nov-2020 | 784 | 670 | 688.31 |
NSE
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Month | High Price | Low Price | Average Price |
| Jan-2021 | 742 | 655 | 699.84 |
| Dec-2020 | 845.7 | 691 | 723.66 |
| Nov-2020 | 790 | 664.95 | 689.62 |
Savita Oil Buyback Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: savita.buyback2021@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
Savita Oil Technologies Limited
66/67, Nariman Bhavan,
Nariman Point,
Mumbai – 400021
Phone: +91-22-66246200
Website: http://www.savita.com/
Final Thoughts
A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors. subscribing for a buyback issue is purely a personal choice. make a detailed study before you make a decision on buyback issue subscription.
Happy Investing