The Kaveri Seed date has been confirmed from February 29, 2024 – March 6, 2024.
Kaveri Seed is launching a ₹325.00 Crores share issuance. Kaveri Seed Company oversees operations in seven advanced processing units across India. A large-scale facility is equipped to dry 2900 tonnes of maize cobs during each cycle. In addition, they have warehouses and extensive storage rooms suitable for storing seed materials in ambient as well as cold storage conditions. Around 6 lakh square feet is dedicated to aggregate storage space.
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Buyback Dates
Feb 29 – Mar 6
Buyback Price
₹725 per share
Face Value
₹2 per share
Offer Closes On
March 6, 2024
Kaveri Seed Buyback Price
The Kaveri Seed Buyback Price is ₹725 per share.
IPO Overview
Founded back in 1976, Kaveri Seeds stands as a leading Indian provider of hybrid seeds specifically designed for important agricultural crops. Among its offerings, the company presents high-yield seeds tailored for various field crops, including maize, cotton, rice, pearl millet, mustard, wheat, sorghum, pulses, bajra, and sunflower. Spanning 12 agro-climatic zones and covering 65,000 acres of land, the company’s seed offerings support a wide range of crop segments, benefiting over 100,000 growers by enabling crops to flourish in different climate and soil conditions.
Kaveri Seed Company operates seven advanced processing units all over India. Capable of handling significant volumes, their facility can dry 2900 tonnes of maize cobs per cycle. Research farms in India, surpassing 500 acres collectively, are owned and leased by the company. Equipped with state-of-the-art facilities, these farms support research activities spanning biotic and abiotic landscapes. Additionally, the corporation runs MLT assessment outposts to analyze newly created items.
Kaveri Seed Buyback Detail
| Issue Period | February 29, 2024 – March 6, 2024 |
| Security Name | Kaveri Seed Company Ltd |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 4,482,758 |
| Issue Size (Amount) | ₹325.00 Crores |
| Buyback Price | ₹725 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
Kaveri Seed Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,051.05 | 1,880.05 | 1,961.86 |
| Revenue | 1,125.26 | 1,011.26 | 1,082.05 |
| Profit After Tax | 260.78 | 205.76 | 309.55 |
| Net Worth | 1,367.28 | 1,282.07 | 1,245.38 |
| Reserves and Surplus | 1,362.26 | 1,282.62 | 1,250.01 |
| Amount in ₹ Crore | |||
Kaveri Seed Buyback Issue Timetable
| Last Date to buy shares | February 22, 2024 |
| Record Date | February 23, 2024 |
| Offer Opens On | February 29, 2024 |
| Last Date for receipt of Tender Forms | March 6, 2024 |
| Offer Closes On * | March 6, 2024 |
| Finalisation of Buyback Acceptance | March 13, 2024 |
| Last Date for settlment of bids | March 14, 2024 |
| Last Date for Extinguishment of Shares | March 26, 2024 |
Company Profile
The Buyback is being undertaken by the company after taking into account the operational and strategic cash requirement for the medium term and for returning surplus funds to the members in an effective and efficient manner. The buyback is being undertaken for the following reasons:
- The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares thereby, enhancing the overall return for them;
- The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve the allocation of a number of shares as per their entitlement or 15% of the number of shares to be bought back, whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as “Small Shareholders” as per Regulation 2(i)(n) of the SEBI Buyback Regulations
- Through the buyback, the company seeks to elevate return on equity by disbursing cash and augmenting earnings per share through a reduction in the equity base, thereby nurturing a long-term upsurge in shareholder value.
- Participating in the buyback allows equity shareholders to receive cash for their shares, while those who choose not to participate may experience a subsequent increase in their shareholding percentage without investing additional funds.
- Optimise the capital structure.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | [email protected] |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Kaveri Seed Company Ltd |
| Phone number | +91-40-2784 239 |
| Email ID | [email protected] |
| Website | kaveriseeds.in |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Kaveri Seed IPO FAQs
Which is the last day to buy Kaveri Seed Company Buyback 2024 for buyback?
Last date to be eligible to participate in buyback is February 22, 2024.
What is the offer price for Kaveri Seed Company Buyback 2024 offer?
The Kaveri Seed Company Buyback 2024 is being offered at Rs ₹725 per share per equity share.
What is the record date for Kaveri Seed Company Buyback 2024 offer?
The record date for the Kaveri Seed Company Buyback 2024 is February 23, 2024.
What is the issue size of Kaveri Seed Company Buyback 2024?
The issue size of Kaveri Seed Company Buyback 2024 is of 4,482,758 equity shares at ₹725 per share aggregating upto ₹325.00 Crores.
