Mayur Uniquoters Ltd. was established in 1994. Today Mayur Uniquoters is the country’s s most prominent manufacturer and a company with the largest manufacturing unit of artificial leather. The company produces artificial leather using a vertical integration of forwarding and backward technology by the Release Paper Transfer Coating Technology. In this article, we take a closer look at the Mayur Uniquoters Buyback details and its possible future prospects.
Mayur Uniquoters Ltd. has a production unit of 4.05 million linear meters per month, and it carries out this production facility through its in house 7 Italian coating lines. Mayur Uniquoters Ltd. has also started a new business dimension of production of PU coating plant. The capacity of the production of this PU Coating plant is of 6 lacs linear meter per month currently.
The company has solid infrastructure support, which consists of a full range of innovative and new-age technical support and machinery to fulfil their business operation of production and knitting, heat setting, lacquering, processing, printing, coating, laminating needs, embossing, sliding and tumbling. Mayur Uniquoters also holds a facility of laboratories of physical, product development and chemical processes and the testing laboratory. The company is an ISO 9001:2015 certified company with quality assurance and product analysis support.
The company also manufactures Coated Textile Fabrics and PVC Vinyl. The company’s finished product is highly used in sectors such as Footwear, Automotive OEM, furnishing, and Automotive Exports and replacement market. The company has a broad clientele base, and it consists of
| Bata | VKC group | Honda | Maruti |
| Action | Liberty | Tata | M&M |
| Relaxo | Paragon | Eicher Motors | Global OEMs such as Ford, Mercedes |
OBJECTIVE OF THE BUYBACK OFFER:
The company stated that the necessity of the Buyback Issue aims at the following:
- The company’s policy is to distribute its surplus funds in favour of the shareholders and increase and improve the overall Return of the shareholders.
- To improve their financial ratios and other operational ratios such as Earnings per share (EPS), Return on Equity (ROE), Return on Capital Employed (RoCE), and Return on assets (ROA).
MAYUR UNIQUOTERS BUYBACK DETAIL:
The company stated that the buyback offer of the equity shares would be a Tender Offer as per the Buyback Regulations been stated by the company and guidelines of SEBI. It also stated that the reservation of the small shareholders would be defined as per the Buy-back Regulations.
The company board recently approved the proposal of a buyback of 6,25,000 equity shares of the company for Rs. 650 for every equity share. The company stated that its buyback offer would be around 2.56% of the total equity shares of the company. Check Day by Day IPO Subscription Details (Live Status)
| Issue Period | From March 24, 2022, to April 6, 2022 |
| Security Name | Mayur Uniquoters Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 0.06 crores equity shares of the company |
| Issue Size (Amount) | Rs. 40.63 Crores |
| Buyback Price | Rs. 650 per equity share |
| Face Value | Rs. 5 per share |
| Listing At | BSE, NSE |
| Buyback Offer Open Date | March 24, 2022 |
| Buyback Offer Close Date | April 6, 2022 |
| Record Date for the offer | February 23, 2022 |
| Last Date for receipt of Tender Forms | April 6, 2022 |
| Finalization of the Buyback Acceptance from the company | April 18, 2022 |
| Last Date for settlement of the bids | April 19, 2022 |
| Last Date for Extinguishment of equity shares | April 26, 2022 |
| Board Meeting for Buyback Proposal | 8 February 2022 |
| Buyback Approval Date | 8 February 2022 |
| Public Announcement of Buyback | 10 February 2022 |
MAYUR UNIQUOTERS BUYBACK RATIO:
| Category | Entitlement Ratio of Buyback |
| Reserved Category for the Small Shareholders of the company | 1 Equity Shares out of every 29 fully paid-up equity shares held as on the record date for the buyback offer with an entitlement ratio of 3.45% |
| General Category that is eligible for all other Shareholders | 5 Equity Shares out of every 79 fully paid-up equity shares held as on the record date for the buyback offer with an entitlement ratio of 1.27% |
FINANCIAL TREND OF THE COMPANY:
| Particulars | For the year ending with the amount in Million Rs. | ||
| 31 March 21 | 31 March 20 | 31 March 19 | |
| Total Income | 5,203.93 | 5,355.43 | 5,948.99 |
| Profit After Tax | 890.38 | 806.43 | 871.67 |
| Net Worth | 6,354.16 | 5,871.61 | 5,229.53 |
| Reserves and Surplus | 6,131.27 | 5,644.97 | 5,002.90 |
MARKET REACTION ON MAYUR UNIQUOTERS BUYBACK OFFER:
Currently, the stock is trading at Rs. 378.05 and registered a positive closing with 0.80%. Due to the tension created by the rise in inflation and the global disruption amidst the Russia- Ukraine War, the stock has gone a significant correction from the top is made. The stock is currently trailing in a negative trend or a bearish trend. Earlier, the stock registered a higher price of Rs. 557.6 on NSE in January, with the average price calculated in January to be around Rs. 520.32. Considering the current market price, the stock is currently trailing at a heavy discount from its Buyback Offer Price. The buyback offer at full acceptance is at a premium of Rs. 271.95 or at nearly 72% from the Buyback Price offered by the company.
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PROFIT FROM MAYUR UNIQUOTERS BUYBACK BY ACCEPTANCE RATIO:
| The maximum market value of a shareholder as on record date | Rs. 2,00,000 |
| The company has offered a buyback price | Rs. 650 |
| Maximum equity shares of a shareholder on March 21 (2,00,000/650) | 307 equity shares |
| Closing price of share as on =21 March 2022 | Rs. 378.05 |
| Amount Invested in buyback (378.05 x 307 shares) | Rs. 1,16,061 |
| Acceptance ratio | Amount invested in buyback | No. of shares bought back | Buyback Profit | Profit in % |
| 33% | Rs. 1,16,061 | 101 | Rs. 27,466 | 23.66 % |
| 50% | Rs. 1,16,061 | 153 | Rs. 41,608 | 35.85% |
| 75% | Rs. 1,16,061 | 230 | Rs. 62,548 | 53.89% |
| 100% | Rs. 1,16,061 | 307 | Rs. 83,504 | 72% |
Also Read : List of Mainboard IPO’s in India.
Also Read : List of Upcoming SME IPO’s in India.
COMPANY CONTACT INFORMATION:
Mayur Uniquoters Limited
Village: Jaitpura, Jaipur-Sikar Road,
Tehsil: Chomu,
Jaipur-303704, Rajasthan
Phone: 0141-2361132
Email: secr@mayur.biz
Website: https://www.mayuruniquoters.com/
MAYUR UNIQUOTERS BUYBACK REGISTRAR:
Beetal Financial & Computer Services (P) Limited
Beetal House, 3rd Floor,
99, Madangir, Behind Local Shopping Centre,
New Delhi – 110062
Phone: +91 11 29961281
Email: beetal@beetalfinancial.com
Website: http://www.beetalfinancial.com
MAYUR UNIQUOTERS BUYBACK MANAGER:
