Engineers India Buyback 2021 Details | EIL BUY BACK PRICE & RECORD DATE Latest News

Engineers India BUYBACK 2021 | LATEST Engineers India SHARE NEWS | EIL BUY BACK RECORD DATE | Engineers India BUYBACK PRICE | Government Companies Buybacks

Engineers India (EIL) shareholders approve ₹587 crore share buyback plan.

Engineers India has announced the record date for carrying out nearly 6.99cr share buyback plan. The company has set January 01, 2021, as the record date for determining eligible shareholders.

The company had announced a buyback of up to 6,98,69,047 equity shares having a face value of Rs 5 each.

It is further notified that the Company has fixed January 1, 2021 as the record date for the purpose of ascertaining the eligibility of shareholders for Buyback of equity shares.

Engineers India Share Buyback Offer Details

EIL Share Buy Back Plan | Latest Engineers India Stock News | Engineers India Buyback Shares

Engineers India Buyback Type: Tender Offer
Engineers India Buyback Record Date: Jan 1, 2021
Engineers India Buyback Offer Amount: 579 crore
Date of Board Meeting approving the proposal: DEC 21, 2020
Date of Public Announcement: DEC 22, 2020
EIL Buyback Offer Size: 11.06%
Buyback Number of Shares: 6,98,69,047
Price Type: Tender Offer
Face Value (FV): 5
Engineers India Buyback Price: ₹84 Per Equity Share
Engineers India Buyback Premium: 10%

The government of India holds a 51.50 per cent stake in the firm that provides engineering consultancy for projects.

The government has asked at least eight state-run companies to consider share buybacks as it scours for ways of raising funds to rein in its fiscal deficit.

The government wants public sector undertakings to either meet their targets for capital expenditure or “reward the shareholder in the form of a dividend” or share buyback.

Also Check:- Latest Share Buyback 2021

Upcoming Buyback 2021

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Engineers India Buyback Important Dates

In this section we have covered all important dates related to “EIL Buyback Date”. Dates are updated as they are announced. The most noted dates are Engineers India record date and Engineers India buyback open and close dates, which one should use to participate in buyback.

Engineers India Ltd. (EIL) Buyback Offer Dates
Buyback Activity Date
Board Meeting for EIL Buyback proposal 21.12.2020
Engineers India Buyback Approval date 22.12.2020
Public Announcement of EIL Buyback 22.12.2020
Engineers India Buyback Record Date 01.01.2021
Engineers India Buyback opens on/Buyback Opening Date 22.01.2021
Engineers India Buyback closes on/Buyback Closing Date 05.02.2021
Cut-off date to receive completed tender forms by Registrar 08.02.2021
Cut-off date for verification by the Registrar 10.02.2021
Cut-off date to inform Stock Exchange on acceptance or
non-acceptance of tendered Equity Shares by Registrar
12.02.2021
Last date of settlement of bids on the stock exchange 15.02.2021
Last date to return unaccepted shares by Registrar 15.02.2021
Last date of extinguishment of Equity Shares 22.02.2021

Engineers India Share Holding Pattern as of SEP 2020

Stock Holding table gives a clear picture on retail investor holdings of EIL shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in Engineers India buyback under retail category which is equal to higher profit.

Shareholding Pattern – Engineers India Ltd. (EIL Ltd.)

Category No. of shares Percentage
Promoters 325404724 51.5
Foreign Institutions 27964948 4.43
NBFC and Mutual Funds 94870829 15.01
Central Government 2,996,756 3.41
Others 21524509 1.13
General Public 111784961 17.69
Financial Institutions 50361449 7.97

Engineers India Buyback Record Date

Tentative Record Date To Participate In EIL Buyback is January 1, 2021

How to Apply for Engineers India Buyback?

Now if you are wondering ‘how do I apply for a buyback?’ we’ve got you covered. When it comes to share-buyback schemes, the capital market regulator has compulsorily reserved a buyback portion of 15% for retail investors who possess in-hold shares in a company worth upto ₹2 lakhs.

This percentage is also taking into account the scrip’s market value as seen on the record date of the buyback offer.

During the application process of share buyback, you will be given a tender form by the company. This form is where you enter the number of shares of that company that you wish to tender.

There is a ratio of acceptance attached to the tender form which signifies how likely the company is to accept your request for share buybacks. Different companies have different ratios for share buybacks.

Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows:

  1. The number of shares you hold from the said company as on the record date
  2. The number of shares that fit the eligibility criteria for buybacks
  3. The number of shares that one is applying for a buyback.

Apply Engineers India buyback from Zerodha

Here is complete method from Zerodha

 
  • Hover your mouse on the stock and select ‘Options’ and click on ‘Place order’
  • Enter the number of shares you want to tender and click on ‘Submit’
  • Buyback/Takeover/Delisting orders are collected until 6:00 PM, one trading day prior to the offer end date. Ensure to hold sufficient quantities in your demat account before closure of the offer end date. (Do not sell the shares after placing the order). Only shareholders who hold the shares as on the record date will be eligible for the corporate action.

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Engineers India Buyback Acceptance Ratio

Profit from the buyback on the bases of acceptance Ratio:

Buy 2631 Shares at CMP of Rs.76 (2,00,000/76=2631)

EIL Buyback Acceptance Ratio 33% 50% 75% 100%
Amount Invested in Buyback 199956 199956 199956 199956
No. of Shares buyback 868 1315 1973 2631
Buyback Profit 9644 10520 15784 21048
Profit 4.82% 5.26% 7.89% 10.52%

Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows Engineers India Buyback Acceptance Ratio:

  1. The number of shares you hold from the said company as on the record date
  2. The number of shares that fit the eligibility criteria for buybacks
  3. The number of shares that one is applying for a buyback.

Company Contact Information

COMPLIANCE OFFICER

Suvendu Kumar Padhi, Company Secretary
Engineers India Bhavan, 1, Bhikaji Cama Place, New Delhi, 110066
Tel: +91 11-26762121; Fax: +91 11-26178210
Email: company.secretary@eil.co.in
Website: www.engineersindia.com
Investor may contact the Company Secretary for any clarification or to address their grievances, if any, during office hours i.e. 10:00 a.m. ISTto5:00 p.m. 1ST on all working days except Saturday, Sunday and public holidays.

Download PDF of Engineers India Buyback Offer

Registrar Contact Information

In case of any query, the shareholders may contact the Registrar & Transfer Agent on any day except Sunday and Public
Holiday from 10:00 a.m. IST to 5:00 p.m. IST i.e. Monday to Friday and from 10:00a.m. IST to 1:00 p.m. 1ST on Saturday, at the following address:

AUNKIT ASSIGNMENTS LIMITED
205-208, Anarkali Complex, Jhandewalan Extension, New Delhi -110055
Tel: +91 11 42541234/2354; Fax: +91 11 23552001
Contact Person: Mr. VirenderSharma
Email: eilbuyback@alankit.com; Website: www.alankit.com
SEBI Reg No: INR000002532 Validity Period: Permanent
CIN: U74210DL1991PLC042569

***Related Queries***

Engineers India Buyback Important dates – Record Date, Buyback Start and End date. Buyback Details – Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Engineers India buyback? How can I apply in Engineers India Buyback offer?

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Engineers India Buyback 2020 FAQs:

When is Engineers India Buyback Record Date?

Engineers India buyback 2020 record date will be January 1, 2021.

When is Engineers India Buyback announcement Date?

Engineers India buyback 2021 announcement date is December 22, 2020.

What is Engineers India Buyback Price?

The company has fixed the price at ₹84 Per Equity Share.

How can I get Engineers India buy back?

As per the Engineers India record date (01.01.2021) you need to have Engineers India shares in your demat account. You can participate in buyback after having the stock in your account.
Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.

How much I can make with Engineers India buyback offer?

Its all depend on Engineers India acceptance ratio which usually announce with Letter of Offer.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that company buys all of your shares.

How to Participate in Engineers India buyback offer?

Steps to participate in Engineers India buyback:
On Record date (01.01.2021) you must have share of Engineers India in your demat account. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
Next step is with registrar – depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.

How many Engineers India share are eligible for buyback?

Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.

When I need to tender Engineers India share for buyback?

Engineers India Buyback opening date: (Coming Soon)
Engineers India Buyback closing date: (Coming Soon)
This is the window when you need to submit your application for proposal for share buyback.

When I will know how much shares accepted in Engineers India buyback offer?

As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before (Coming Soon).

Why is Engineers India buying back shares?

Engineers India plans to buy back up to 6,98,69,047 equity shares of the company for an aggregate amount not exceeding 587 crore. Engineers India proposed to buy back shares at ₹84 per share.
The company had announced the mega buyback offer as part of its long-term capital allocation policy of returning excess cash to shareholders.

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