Jai Corp is offering a buyback program in 2024 to repurchase its shares from existing shareholders. This move is a great opportunity for investors to capitalize on their holdings. Here’s a comprehensive guide covering all details about the Jai Corp buyback 2024, including important dates, offer details, how to participate, and more.
Overview of Jai Corp
Founded in 1985, Jai Corporation initially focused on manufacturing, including plastic processing, steel production, and yarn spinning. Over the years, the company has diversified into various sectors such as Special Economic Zones (SEZs), venture capital, infrastructure development, and real estate. Listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), Jai Corp continues to expand its operations across different industries.
Jai Corp Buyback 2024 Details
Jai Corp has announced a buyback of shares amounting to ₹117.77 crores. The buyback will be conducted through the tender offer route via the stock exchange mechanism, allowing shareholders to sell their shares back to the company at a fixed price.
Key Dates for Jai Corp Buyback 2024
| Event | Date |
|---|---|
| Buyback Meeting Date | August 29, 2024 |
| Buyback Announcement Date | August 29, 2024 |
| Buyback Record Date | September 10, 2024 |
| Last Date to Buy Shares | September 9, 2024 |
| Buyback Open Date | To Be Announced |
| Buyback Close Date | To Be Announced |
| Finalization of Buyback Acceptance | To Be Announced |
Shareholders must purchase shares before the record date to be eligible for the buyback.
Offer Details
The Jai Corp buyback involves the repurchase of 29,44,415 equity shares at a price of ₹400 per share. The company has set the face value of each share at ₹1. The maximum amount allocated for this buyback is ₹117.77 crores.
| Offer Amount | Number of Shares | Buyback Price | Face Value | Listing | Buyback Type |
|---|---|---|---|---|---|
| ₹117.77 Crores | 29,44,415 | ₹400 per share | ₹1 per share | BSE, NSE | Tender Offer |
To learn more about buybacks, visit our Buyback page.
How to Participate in Jai Corp Buyback 2024
To participate in the Jai Corp Buyback 2024, you must hold shares in your Demat account by the record date, September 10, 2024. If you meet this criterion, you can submit a request to sell your shares back to the company.
Step-by-Step Guide for Different Platforms
- Zerodha:
- Log in to the Zerodha Console.
- Navigate to Portfolio and click on Corporate Actions.
- Select “Jai Corp” and click “Place Order”.
- Enter the quantity of shares you wish to sell and submit the form.
- Upstox:
- Log in to your Upstox account.
- Search for “Jai Corp” in the stocks section.
- Click on the Jai Corp stock and choose the buyback option.
- Enter your desired quantity and submit your application.
- Paytm Money:
- Log in to the Paytm Money app.
- Select the “Jai Corp” stock.
- Enter the quantity for buyback and submit the form.
For more information on IPO processes and related topics, check our IPO forms page.
Understanding the Acceptance Ratio
The acceptance ratio indicates the percentage of shares that are accepted by the company during the buyback. This ratio depends on the total number of shares tendered by shareholders versus the number of shares the company intends to buy back.
Example Calculation:
- If you invest ₹186,000 at a buyback price of ₹400 per share, you would acquire 465 shares.
- The table below shows the expected number of shares accepted and potential profit at different acceptance ratios:
| Acceptance Ratio | Investment | Shares Bought | Shares Accepted | Profit |
|---|---|---|---|---|
| 33% | ₹186,000 | 465 | 165 | ₹4,620 |
| 50% | ₹186,000 | 465 | 250 | ₹7,000 |
| 75% | ₹186,000 | 465 | 375 | ₹10,500 |
| 100% | ₹186,000 | 465 | 500 | ₹14,000 |
Jai Corp Financial Report
Analyzing Jai Corp’s financial performance provides insights into its operational stability and profitability. Here’s a quick overview of the company’s financials over the past three years:
| Year | Revenue (₹ Crores) | Expense (₹ Crores) | Profit After Tax (PAT) (₹ Crores) |
|---|---|---|---|
| 2022 | 721.11 | 653.37 | 54.21 |
| 2023 | 600.07 | 527.57 | 3.48 |
| 2024 | 481.39 | 410.19 | 53.89 |
These figures show that while revenue has decreased, the company has managed to control its expenses, leading to a positive profit in 2024.
FAQs About Jai Corp Buyback 2024
1. What is the record date for the Jai Corp Buyback 2024?
The record date for the Jai Corp Buyback 2024 is September 10, 2024. Ensure you hold shares by this date to be eligible for the buyback.
2. When does the Jai Corp Buyback 2024 open?
The exact opening date for the buyback is yet to be announced. Stay updated by visiting our Upcoming IPOs page.
3. What is the price per share for the Jai Corp Buyback 2024?
The buyback price is set at ₹400 per share.
4. How can I apply for the Jai Corp Buyback 2024?
You can apply through various platforms like Zerodha, Upstox, and Paytm Money. Follow the steps mentioned in the “How to Participate” section above.
5. What is the acceptance ratio for the buyback?
The acceptance ratio varies depending on the number of shares you tender. Refer to the acceptance ratio table in this article for detailed scenarios.
6. What are the benefits of participating in a buyback?
Participating in a buyback allows shareholders to sell their shares at a premium price, providing an opportunity to book profits.
7. Where can I find more information on other buybacks and IPOs?
For more details on buybacks and upcoming IPOs, visit our Buyback and IPO GMP pages.
Conclusion
The Jai Corp Buyback 2024 offers a strategic opportunity for shareholders to realize returns by selling their shares at a premium. Ensure you have shares in your Demat account by the record date, and use the appropriate platform to participate in the buyback. Stay informed about other investment opportunities like upcoming IPOs and rights issues to maximize your portfolio returns.
By understanding the details of this buyback, you can make an informed decision and potentially benefit from Jai Corp’s strategic move.
For more information, check out our BSE and NSE holidays to plan your investments around market schedules.
