Rajoo Engineers Buyback Record Date, Price, Entitlement Ratio

The Rajoo Engineers date has been confirmed from February 6, 2024 – February 12, 2024.

The company’s product portfolio includes Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two Extruder 3 Layer ABA Blown Film Lines, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules and Single and twin screw extrusion systems.

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Rajoo Engineers IPO GMP

The Rajoo Engineers Buyback Price is ₹210 per share.

IPO Overview​

Rajoo Engineers Limited, founded in 1986, designs and manufactures blown film lines, sheet lines, and thermoformers. Downward Extrusion Blown Film Lines, Mono Layer Brown Film Lines, Three Layer Blown Film Lines, Two Extruder 3 Layer ABA Blown Film Line, Five Layer Blown Film Lines, Seven Layer Blown Film Lines, Physically Foamed Sheet Extrusion Line, Cross Lamination Film Line, Lab Line, Mono & Multilayer sheet extrusion system for PS/PP/EVA, Sheet extrusion technology for solar modules, and Single and twin screw extrusion systems are among the company’s offerings.

The company’s manufacturing facility is at Veraval (Shapar), Rajkot district, Gujarat. Rajoo Engineers has more than 312 employees as of December 31, 2023.

Rajoo Engineers Buyback Detail

Issue Period	February 6, 2024 – February 12, 2024
Security Name	Rajoo Engineers Limited
Issue Type	Tender Offer
Issue Size (Shares)	942,300 (1.53 % of Total number of equity Shares)
Issue Size (Amount)	₹19.79 Crores
Buyback Price	₹210 per share
Face Value	₹1 per share
Listing At	BSE

Rajoo Engineers Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets		173.85	147.72	146.14
Revenue	86.89	162.58	174.99	152.83
Profit After Tax	7.75	10.02	14.80	10.40
Net Worth	107.09	101.75	93.27	78.48
Total Borrowing	2.51	1.52	0.28	3.09
Amount in ₹ Crore

Rajoo Engineers Buyback Issue Timetable

Last Date to buy shares	January 30, 2024
Record Date	January 31, 2024
Offer Opens On	February 6, 2024
Last Date for receipt of Tender Forms	February 12, 2024
Offer Closes On *	February 12, 2024
Finalisation of Buyback Acceptance	February 16, 2024
Last Date for settlment of bids	February 20, 2024
Last Date for Extinguishment of Shares	February 29, 2024

Company Profile​

• In 2013, Mr. C. N. Doshi, Mentor of Rajoo Engineers was awarded a Lifetime Achievement Award in recognition of his contribution to innovation in the plastics processing machinery segment and to the global plastic fraternity, the company also developed Asia’s first-ever smallest 5-layeVeravalr sheet line, displayed at K-germany & awarded by IPMMI.

Buyback is being undertaken, inter-alia, for the following reasons:

1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby enhancing the overall return to shareholders;
2. The Buyback, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve 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;
3. The Buyback may help in improving return on equity, by reducing the equity base, thereby leading to a long-term increase in shareholders’ value;
4. 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 to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.
5. Optimizes the capital structure.

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.

Rajoo Engineers IPO FAQs