The Siyaram Silk Mills Buyback date has been Recorded on September 18, 2023
Siyaram Silk Mills is a textile manufacturer. It specializes in the production of fabrics and ready-to-wear clothes, particularly for men’s wear. The firm exports to countries such as Abu Dhabi, Australia, Bahrain, Bangladesh, Cambodia, and Canada.
Start your investing journey today. How do you open your own demat account for free?
Record Dates
September 18, 2023
Buyback Price
₹720 per equity share
Face Value
₹5 per share
Offer Closes On
October 3, 2023
Siyaram Silk Mills Buyback Price
The Siyaram Silk Mills Buyback price is ₹[720 per equity share ].
IPO Overview
Suits, blazers, shirts, and trousers produced from the best yarns for men, attuned to worldwide standards and complimenting a unique expression, are available from the company. The corporation distributes its products under a variety of brand names that have a strong recall value among consumers. Brand names such as Siyaram Inspiron, J Hampstead, Oxemberg, and Siyaram’s Mozzo are among them. As of May 2023, the company had 800+ distributors spread across 30 countries, as well as 225+ storefronts
Siyaram Silk Mills Share Buyback 2023 Details
| Siyaram Silk Mills Buyback Dates | Coming soon |
| Siyaram Silk Mills Buyback Price | INR 650 per share |
| Market Price on Buyback Approval | INR 549 per share |
| Buyback Premium on Market Price | 18.40% |
| Buyback Offer Size (Shares) | 16,61,530 shares |
| Buyback Offer Size (Amount) | INR 108 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Siyaram Silk Mills Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 9 August 2023 |
| Buyback Approval Date | 12 August 2023 |
| Public Announcement of Buyback | Coming soon |
| Siyaram Silk Mills Buyback Record Date | 18 September 2023 |
| Buyback Opening Date | Coming soon |
| Buyback Closing Date | Coming soon |
| Cut-off Date to receive completed tender forms by Registrar | Coming soon |
| Verification Date by the Registrar | Coming soon |
| Return of unaccepted shares by Registrar | Coming soon |
| Extinguishment of accepted shares | Coming soon |
Siyaram Silk Mills Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders | ||
| (less than INR 2 Lakh on record date) | – | 6.47 |
| General category | ||
| (for all other Eligible Shareholders) | – | – |
Siyaram Silk Mills Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 1,088 | 1,903 | 2,229 |
| Total Expenses | 1,033 | 1,569 | 1,860 |
| Net income | 5 | 213 | 252 |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 650 |
| Maximum shares for small shareholder (2,00,000/650) | 308 shares * |
| Closing price of stock as on 14 August 2023 | INR 549** |
| Maximum amount invested in buyback (INR 549 x 308 shares) | INR 169,092 |
Siyaram Silk Mills Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 308 | 20 | 20 (100%) | 2,020 | 1.19 |
| 308 | 20 | 40 (200%) | 4,040 | 2.39 |
| 308 | 20 | 60 (300%) | 6,060 | 3.58 |
Company Profile
Siyaram Silk Mills Ltd (SSM) is renowned as the leading manufacturer of blended high fashion suiting’s, shirting’s, and apparels. With a remarkable presence in the industry for more than 30 years, SSM produces an impressive quantity of over 60 million meters per year. Its extensive network of 60,000 retailers and 450 dealers across India, supported by a dedicated sales force of over 400 employees, further solidifies its position as a market leader. One of the key factors behind Siyaram’s success is its commitment to providing value to its customers. This is evident in the company’s state-of-the-art machinery, which is installed in its eco-friendly plants located in Tarapur, Daman, and Mumbai. These plants not only
ensure efficient production but also reflect Siyaram’s dedication to environmental sustainability. SSM is a part of the Siyaram Poddar Group, which includes other prominent companies like Balkrishna Industries Ltd and Govind Rubber Ltd. All these companies are listed on the Bombay Stock Exchange. As a small-cap company, SSM currently holds a market capitalization of ₹936.75 crores. In the financial year ending March 2014, Siyaram’s achieved an annualized net profit of ₹20.2 crores. The company consistently produces over 4 million meters of fabric per month, resulting in an impressive annual production of 60 million meters.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91-22-4918 6270 |
| Email ID | siyaram.buyback2023@linkintime.co.in |
| Website | https://linkintime.co.in/mipo/ipoallotment.html |
Contact Details
| Name | Siyaram Silk Mills Buyback Limited |
| Phone number | +91 22 3040 0500 |
| Email ID | enquiries@siyaram.com |
| Website | https://.siyaram.com/ |
IPO Strenghts
- 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.
