Triveni Turbine Limited (TTL ) is a dominant Industrial Steam Turbine manufacturer with a global footprint spanning over 75 countries. TTL offers robust back-pressure and condensing steam turbines that work across a wide range of pressure and flow applications. With a dedicated team of highly skilled and experienced engineers, TTL offers a wide suite of integrated solutions like erection & commissioning, spare parts, operations & maintenance and refurbishing, among others.
With a commanding 60% market share, the Company dominates the Indian market. Additionally, it provides extensive aftermarket services that cover the whole lifecycle of a turbine. TTL uses turbines with a higher capacity range, up to 100 MW.
With more than 5000 turbine installations throughout more than 75 countries, the company is quickly expanding its worldwide reach to more nations and regions. Modern manufacturing facilities are run by TTL in Bengaluru, India. Complete manufacturing, assembly, testing, and refurbishing services can be offered at the location. More than 5000 stream turbine units have been deployed by the company.
Triveni Turbine Buyback Detail
| Issue Period | Jan 17, 2023 – Jan 31, 2023 |
| Security Name | Triveni Turbine Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 5,428,571.00 |
| Issue Size (Amount) | ₹190.00 Crores |
| Buyback Price | ₹350 per share |
| Face Value | ₹1 per share |
| Listing At | BSE,NSE |
Triveni Turbine Buyback Issue Timetable
| Last Date to buy shares | Dec 21, 2022 |
| Record Date | Dec 23, 2022 |
| Offer Opens On | Jan 17, 2023 |
| Last Date for receipt of Tender Forms | Jan 31, 2023 |
| Offer Closes On | Jan 31, 2023 |
| Finalisation of Buyback Acceptance | Feb 8, 2023 |
| Last Date for settlment of bids | Feb 9, 2023 |
| Last Date for Extinguishment of Shares | Feb 16, 2023 |
Buyback Ratio
| Category | Entitlement Ratio of Buyback |
| Reserved Category for Small Shareholders | 8 Equity Shares out of every 51 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 1 Equity Share out of every 69 Fully paid-up Equity Shares held on the Record Date. |
Company Financials
Triveni Turbine Limited Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
| 31-Mar-21 | 941.85 | 721.68 | 102.46 | 98.69 |
| 31-Mar-22 | 1334.82 | 881.72 | 270.2 | 128.2 |
Necessity of the Issue
The Buyback is being undertaken, inter-alia, for the following reasons:
Taking into account the operational and strategic cash requirements of the Company in the medium term (including investment in growth plans and associated capital expenditure), the Company’s dividend pay-out trend and cash reserves, the Company considers appropriate to return surplus funds to the shareholders in an effective and efficient manner.
The Buyback will help the Company to distribute surplus cash to its shareholders holding Equity Shares and will promote capital efficiency and thereby increasing shareholders’ value and improving return on equity to the management of the Company’s business during that year and to the amount and character of the financial resources which will, in the Board’s view.
Triveni Turbine Buyback Documents
Company Contact Information
Triveni Turbine Limited
A-44, Hosiery Complex,
Phase-II Extn., Noida
201305
Phone: 91 120 4308000
Email: shares.ttl@trivenigroup.com
Website: https://www.triveniturbines.com/
Triveni Turbine Buyback Registrar
- KFin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: ttl.buyback@kfintech.com
Website: https://karisma.kfintech.com/
Triveni Turbine Buyback Manager
Lead Manager(s)
- Ambit Private Limited
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