Incorporated in 1978, Siyaram Silk Mills Limited manufactures and markets high-quality fabrics, readymade garments, and other textile products.
The company offers diversified and innovative products made using a variety of blends made from polyviscose, cotton, wool, linen, bamboo and stretch, sold under different brands and sub-brands. Serving multiple end markets through an extensive network of over 800+ distributors, multi-brand outlets – over 225+ stores nationwide, online marketplace, exclusive stores, and institutional engagements.
Siyaram’s brand outlets include Acclaim, Siyaram’s Victory, Mistair, Canetti, Ethnair, Inspira, Inspiro, Mozzo, Oxemberg, J. Hampstead, Breezy, Evita, Spirit, Cavalera, Casamoda, Cadini, Den-Knit, Marconi, Royale linen, and Unicode.
As on March 31, 2023, the company has over 12 manufacturing units across Tarapur, Daman, Amravati, and Silvassa, comprising 655 looms with a production capacity of 79.5 mn meters, 526 machines with 3.5 mn pieces capacity, 4.8 mn Kg of Indigo capacity, 2.4 mn kg of Knitted fabric capacity.
The Company has established a strong foothold globally and exports fabrics to the UK, Europe, North America, Latin America, Gulf countries, and South-East Asia.
Siyaram Silk Mills Buyback 2023 Detail
| Issue Period | September 25, 2023 – October 3, 2023 |
| Security Name | Siyaram Silk Mills Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,499,992.00 |
| Issue Size (Amount) | ₹108.00 Crores |
| Buyback Price | ₹720 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
Siyaram Silk Mills Buyback 2023 Issue Timetable
| Last Date to buy shares | September 15, 2023 |
| Record Date | September 18, 2023 |
| Offer Opens On | September 25, 2023 |
| Last Date for receipt of Tender Forms | October 3, 2023 |
| Offer Closes On * | October 3, 2023 |
| Finalisation of Buyback Acceptance | October 9, 2023 |
| Last Date for settlment of bids | October 10, 2023 |
| Last Date for Extinguishment of Shares | October 19, 2023 |
* Last Date to Tender shares on Zerodha : September 29, 2023
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 53 Equity Shares out of every 457 Fully paid-up Equity Shares held on the Record Date. | 224,999.00 |
| General Category for all other Eligible Shareholders | 21 Equity Shares out of every 739 Fully paid-up Equity Shares held on the Record Date. | 1,274,993.00 |
Company Financials
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,503.23 | 1,210.49 | 1,512.90 | 1,636.73 |
| Revenue | 1,733.11 | 1,130.09 | 1,939.42 | 2,272.77 |
| Profit After Tax | 69.25 | 3.58 | 216.24 | 250.99 |
| Net Worth | ||||
| Reserves and Surplus | ||||
| Total Borrowing | 431.83 | 160.46 | 253.18 | 190.94 |
Amount in ₹ Crore
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 575.00 | 534.90 | 553.43 |
| Jun-2023 | 567.30 | 519.35 | 541.40 |
| May-2023 | 584.55 | 486.60 | 529.33 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 575.00 | 534.10 | 553.40 |
| Jun-2023 | 567.70 | 519.00 | 541.55 |
| May-2023 | 584.60 | 486.95 | 529.34 |
Necessity of the Issue
The Buy Back is being proposed by the Company to fulfill the following objectives:
- The Buy Back will help the Company to return surplus cash to its shareholders.
- The Buy Back, which is being implemented through the tender offer involving a reservation for Small Shareholders of 15%. The Company believes that this reservation of 15% for Small Shareholders would benefit a large number of public shareholders.
- The Buy-back will help in improving financial ratios like earnings per share, return on assets, and return on equity calculated on the basis of financial statements, by reducing the equity base of the Company.
- The Buy Back gives an option to the shareholders holding Equity Shares of the Company, to either choose to participate and get cash in lieu of Equity Shares or choose not to participate and enjoy a resultant increase in their percentage shareholding.
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Company Contact Information
Siyaram Silk Mills Limited
B – 5, Trade World, Kamala City,
Senapati Bapat Marg, Lower Parel,
Mumbai – 400 013
Phone: +91 22 3040 0500
Email: enquiries@siyaram.com
Website: https://www.siyaram.com/