On February 8, 2023, the Symphony Buyback 2023 announcement was made. The open date for the Symphony buyback is May 3, 2023. The specified date for the Symphony buyback record is March 29, 2023. To be eligible for the buyback, the investor must purchase shares of Symphony before the record date.
On February 8, 2023, the board of directors authorized the Symphony Buyback of ₹200 crores. Symphony Buyback will be carried out through the stock exchange system’s Tender Offer procedure. The business’s board of directors gave its approval for the company to repurchase from the shareholders fully paid-up equity shares with a face value of 2 apiece at a price of ₹2,000 rupees each, up to a maximum of 200 crores. The largest maker of air coolers in the world is Symphony, an Indian multinational corporation with operations in over 60 countries.
Symphony Buyback 2023 Dates
| Buyback Meeting Date: | February 8, 2023 |
| Buyback Announcement Date: | February 8, 2023 |
| Buyback Record Date: | March 29, 2023 |
| Last Date to Buy Shares: | March 28, 2023 |
| Buyback Open Date: | May 3, 2023 |
| Buyback Close Date: | May 17, 2023 |
| Finalization of Buyback Acceptance: | May 25, 2023 |
Symphony Buyback 2023 Offer Details
1,000,000 equity shares from Symphony will be repurchased at a cost of ₹2,000 per equity share. The maximum repurchase offer size shall not exceed ₹200 crore.
| Offer Amount: | ₹200 Crores |
| Number of Shares: | 1,000,000 Equity Shares |
| Face Value: | ₹2 per equity share |
| Buyback Price: | ₹2,000 per equity share |
| Listing: | BSE, NSE |
| Buyback Type: | Tender Offer |
Symphony Buyback 2023 Acceptance Ratio
At the current market price of ₹108,000 (as of March 28, 2023), the investor should purchase about 100 shares. ₹2,00,000 divided by the buyback price of ₹2,000 is 100 shares.
| Acceptance Ratio | Investment | Shares Buyback | Profit |
|---|---|---|---|
| 33% | ₹108,000 | 33 | ₹30,360 |
| 50% | ₹108,000 | 50 | ₹46,000 |
| 75% | ₹108,000 | 75 | ₹69,000 |
| 100% | ₹108,000 | 100 | ₹92,000 |
Symphony Financial Report
| ₹ in Crores | ₹ in Crores | ₹ in Crores | |
|---|---|---|---|
| Year | Revenue | Expense | PAT |
| 2020 | ₹763 | ₹517 | ₹186 |
| 2021 | ₹524 | ₹372 | ₹112 |
| 2023 | ₹679 | ₹527 | ₹111 |
How to Participate in Symphony Buyback 2023
Investors who had Symphony shares in their Demat Account as of March 28, 2019, or earlier, are eligible for the buyback program. According to the opening form, eligible share holders can take part in the Symphony Buyback 2023 scheme by selling their shares. According to the Symphonyepted shares by the firm under the Symphony repurchase program, the payment will be made.
Symphony Buyback 2023 Lead Managers
- Ambit Private Limited
Symphony Contact Info
Symphony Limited
“Symphony House”, FP-12,
TP-50, Off S.G. Highway, Bodakdev,
Ahmedabad -380 059,
Phone: +91-79-66211111
Email: info@symphonylimited.com
Website: https://www.symphonylimited.com
Symphony Registrar
Bigshare Services Pvt Ltd
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road,
Marol, Andheri(E), Mumbai – 400 059
Phone: +91-22-6263 8200
Email: buybackoffer@bigshareonline.com
Website: https://www.bigshareonline.com
Symphony Buyback 2023 FAQs
Q1. When is Symphony Buyback 2023 Record Date?
Ans. Symphony buyback 2023 record date is March 29, 2023.
Q2. When is Symphony Buyback 2023 Open Date?
Ans. May 3 is the start date for the 2023 Symphony Buyback.
Q3. What is Symphony Buyback 2023 Price?
Ans. The price per share has been set by the firm at ₹2,000.
Q4. How to apply for Symphony Buyback 2023?
Ans. As per the record date you need to have Symphony shares in your Demat Account. You can participate in buyback after having the stock in your Account.
