Technocraft Industries India Limited was founded in 1972 and initially focused on the production of steel drum closures before expanding to include additional goods such seal plugs, gaskets, drum flanges, and so forth.
The business also expanded into producing plastic closures for small metal and plastic containers. It is also a leader in the engineering industry’s tube division and manufactures very accurate scaffolding systems for the erection of buildings.
Technocraft Industries expanded its product line to include cotton yarn production and was given the status of 100% EOU (Export Oriented Unit).
Technocraft Industries Buyback 2023 Detail
| Issue Period | Feb 1, 2023 – Feb 14, 2023 |
| Security Name | Technocraft Industries (India) Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,500,000.00 |
| Issue Size (Amount) | ₹150.00 Crores |
| Buyback Price | ₹1000 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Technocraft Industries Buyback Dates
| Last Date to buy shares | Dec 28, 2022 |
| Record Date | Dec 30, 2022 |
| Offer Opens On | Feb 1, 2023 |
| Last Date for receipt of Tender Forms | Feb 16, 2023 |
| Offer Closes On | Feb 14, 2023 |
| Finalisation of Buyback Acceptance | Feb 21, 2023 |
| Last Date for settlment of bids | Feb 22, 2023 |
| Last Date for Extinguishment of Shares | Mar 1, 2023 |
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
| Reserved Category for Small Shareholders | 33 Equity Shares out of every 83 Fully paid-up Equity Shares held on the Record Date. | 225,000.00 |
| General Category for all other Eligible Shareholders | 31 Equity Shares out of every 581 Fully paid-up Equity Shares held on the Record Date. | 1,275,000.00 |
Company Financials
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
| 31-Mar-20 | 1393.98 | 123.19 | 24.46 | 914.16 | 635.08 |
| 31-Mar-21 | 1352.34 | 146.83 | 1069.37 | 1044.91 | 466.92 |
| 31-Mar-22 | 1958.55 | 274.57 | 1332.03 | 1307.57 | 506.14 |
| Amount in ₹ Crore |
Objects of the Issue
The Buyback is being undertaken, inter-alia, for the following reasons:
- The Buyback will help the Company to return surplus cash to its shareholders;
- The Buyback would involve allocation of number of Equity Shares reserved for the small shareholders;
- The Buyback may help in improving return on equity leading to long term increase in shareholders’ value;
- 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; and
- The Buyback may lead to reduction in outstanding Equity Shares, improvement in earnings per Equity Share, and enhanced return on equity.
Technocraft Industries Buyback 2022 Documents
Company Contact Information
Technocraft Industries (India) Limited
Plot No. 47, “Opus Centre”, Second Floor,
Central Road, Opposite Tunga Paradise Hotel, MIDC.
Andheri (East), Mumbai – 400 093
Phone: +91-22-4098 2222/234
Email: investor@technocraftgroup.com
Website: http://www.technocraftgroup.com/
Technocraft Industries Buyback 2022 Registrar
- Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: technocraft.buyback@linkintime.co.in
Website: https://linkintime.co.in/
Technocraft Industries Buyback 2022 Manager
Lead Manager(s)
- Systematix Corporate Services Limited
