Incorporated in 1948, Shervani Industrial Syndicate Limited is an India-based company that operates in the real estate and infrastructure development sectors.
Shervani Industrial Syndicate Limited is a company based in India that is involved in real estate and biscuit manufacturing on a job work basis. The company is currently focused on a group housing project called Victory Tower, located within Shervani Legacy at Prayagraj. This group housing project comprises of two towers, each 13 stories high, and a total of approximately 520 units that include two BHK, three BHK, and four-bedroom, hall, and kitchen apartments.
Shervani Legacy campus covers around 50% open area consisting of a park, playground, pond for rainwater harvesting, and a road with pathways. The company has also completed several projects like Naman Homes, Tara Towers, Amber Apartment, and Sterling Apartments.
Moreover, the company owns a subsidiary known as Farco Foods Private Limited, which is involved in biscuit manufacturing on a job work basis for Surya Foods and Agro Limited under their brand, Priya Gold.
Shervani Industrial Syndicate Buyback 2024 Detail
| Issue Period | March 14, 2024 – March 20, 2024 |
| Security Name | Shervani Industrial Syndicate Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 134,000 (9.94 % of Total number of equity Shares) |
| Issue Size (Amount) | ₹6.83 Crores |
| Buyback Price | ₹510 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
Shervani Industrial Syndicate Buyback 2024 Issue Timetable
| Last Date to buy shares | March 6, 2024 |
| Record Date | March 7, 2024 |
| Offer Opens On | March 14, 2024 |
| Last Date for receipt of Tender Forms | March 20, 2024 |
| Offer Closes On * | March 20, 2024 |
| Finalisation of Buyback Acceptance | March 26, 2024 |
| Last Date for settlment of bids | March 27, 2024 |
| Last Date for Extinguishment of Shares | April 8, 2024 |
* Last Date to Tender shares on Zerodha : March 19, 2024
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 108 Equity Shares out of every 739 Fully paid-up Equity Shares held on the Record Date. | 20,100.00 |
| General Category for all other Eligible Shareholders | 2 Equity Shares out of every 45 Fully paid-up Equity Shares held on the Record Date. | 113,900.00 |
Company Financials
Shervani Industrial Syndicate Limited Financial Information (Restated Consolidated)
Shervani Industrial Syndicate Limited’s revenue increased by 183.11% and profit after tax (PAT) rose by 952.26% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 185.39 | 219.60 | 264.04 |
| Revenue | 28.11 | 9.93 | 33.76 |
| Profit After Tax | 23.63 | -2.77 | 6.66 |
| Net Worth | 88.70 | 65.61 | 69.06 |
| Reserves and Surplus | 85.97 | 62.89 | 66.34 |
| Amount in ₹ Crore | |||
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2024 | 525.00 | 469.30 | 505.63 |
| Dec-2023 | 528.70 | 476.60 | 503.43 |
| Nov-2023 | 585.00 | 440.90 | 506.79 |
Necessity of the Issue
Buyback is being undertaken, inter-alia, for the following reasons:
- The Buyback will help the Company to return surplus cash to its shareholders holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to Shareholders.
- The Buyback would help in improving return on equity by reduction in the share capital base and increasing shareholder value in the longer term.
- The Buyback gives an option to the shareholders holding equity shares of the Company, who can choose to participate and get cash in lieu of equity shares to be accepted under the Buyback offer or they may choose not to participate and be benefitted of a resultant increase in their percentage shareholding, post the Buyback offer, without additional Investment.
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Company Contact Information
Shervani Industrial Syndicate Limited
Shervani Nagar, Sulem Sarai
Harwara,
Prayagraj-211015
Phone: 91-7311128115
Email: shervaniind@rediffmail.com
Website: http://www.shervaniind.com/