Incorporated in 1947, Piramal Enterprises Limited (PEL) is one of India’s leading diversified non-banking financial companies (NBFC). The company has assets worth 10 billion.
Piramal Enterprises Limited is an integral part of the Piramal Group. The Group operates through its various companies and offers a wide variety of products and services. These companies include – Piramal Pharma Limited, Piramal Realty, Piramal Pharma Limited, and Piramal Foundation.
Piramal Enterprises Limited has a network of over 400 branches across 26 states and Union Territories. They are offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms, and investments.
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Piramal Enterprises Buyback 2023 Detail
| Issue Period | August 31, 2023 – September 6, 2023 |
| Security Name | Piramal Enterprises Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 14,000,000.00 |
| Issue Size (Amount) | ₹1,750.00 Crores |
| Buyback Price | ₹1250 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
Piramal Enterprises Buyback 2023 Issue Timetable
| Last Date to buy shares | August 24, 2023 |
| Record Date | August 25, 2023 |
| Offer Opens On | August 31, 2023 |
| Last Date for receipt of Tender Forms | September 6, 2023 |
| Offer Closes On * | September 6, 2023 |
| Finalisation of Buyback Acceptance | September 12, 2023 |
| Last Date for settlment of bids | September 13, 2023 |
| Last Date for Extinguishment of Shares | September 25, 2023 |
* Last Date to Tender shares on Zerodha : September 5, 2023
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 47 Fully paid-up Equity Shares held on the Record Date. | 2,100,000.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 19 Fully paid-up Equity Shares held on the Record Date. | 11,900,000.00 |
Company Financials
| Period Ended | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 33,330.77 | 33,104.03 |
| Revenue | 2,820.22 | 4,837.13 |
| Profit After Tax | 997.68 | 14,333.30 |
| Net Worth | ||
| Reserves and Surplus | ||
| Total Borrowing |
Amount in ₹ Crore
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 1,115.20 | 915.60 | 985.14 |
| Jun-2023 | 976.50 | 765.65 | 837.01 |
| May-2023 | 785.00 | 716.00 | 752.95 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 1,115.40 | 915.30 | 985.18 |
| Jun-2023 | 977.20 | 770.00 | 836.93 |
| May-2023 | 785.00 | 716.00 | 752.86 |
Necessity of the Issue
The Buy Back is being proposed by the Company to fulfill the following objectives:
- The Buyback will help the company to return surplus cash to its shareholders holding Equity Shares.
- The buyback will help the company improve its capital structure by optimizing debt to equity ratio. It would also help in improving financial ratios such as EOS and ROE.
- The Buyback gives an option to the shareholders holding Equity Shares of the company, either to sell their Equity Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
- The Buyback, which is being implemented through the tender offer as prescribed under the Buyback Regulations, would involve a minimum reservation of 15% for Small Shareholders and allocation of a higher number of shares as per their entitlement or 15% of the number of shares to be bought back, reserved for the Small Shareholders. The Company believes that this reservation for Small Shareholders would benefit a large number of public shareholders, who would get classified as Small Shareholders.
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Company Contact Information
Piramal Enterprises Limited
Piramal Ananta, Agastya Corporate Park,
Opposite Fire Brigade, Kamani Junction, LBS Marg,
Kurla (West), Mumbai – 400070
Phone: +91-22-3802 3000/400
Email: corporate.communication@piramal.com
Website: https://www.piramal.com/