Emami Ltd has announced buyback of fully paid-up equity shares having a face value of Re. 1/- (Rupee One only) each of the Company at a price not exceeding Rs 450/- (Rupees Four Hundred Fifty only) per equity share (“Maximum Buyback Price”) and for an aggregate amount not exceeding Rs 18,600 Lakhs (Rupees Eighteen Thousand Six Hundred Lakhs only) (“Maximum Buyback Size”), from the shareholders of the Company (other than the promoters, the promoters group and persons in control of the Company).
At the Maximum Buyback Size and the Maximum Buyback Price, the indicative maximum number of equity shares to be bought back under the Buyback would be 4,133,333 Equity Shares (representing 0.94% which is less than 25% of the existing paid up equity capital of the Company). The Maximum Buyback Size represents 9.94% and 9.99% of the aggregate of the total paid-up equity share capital and free reserves of the Company based on the latest audited standalone and consolidated financial statements of the Company as on March 31, 2022, respectively. The actual number of equity shares bought back during the Buyback will depend upon the actual price, excluding the Transaction Costs, paid for the equity shares bought back and the aggregate consideration paid in the Buyback, subject to the Maximum Buyback Size.
The Company shall utilise atleast 75% of the amount earmarked as the Maximum Buyback Size for the Buyback i.e. Rs 13,950 Lakhs (Rupees Thirteen Thousand Nine Hundred Fifty Lakhs only) (“Minimum Buyback Size”). Based on the Minimum Buyback Size and Maximum Buyback Price, the Company would purchase indicative minimum number of 3,100,000 Equity Shares.
Further, the Company shall utilize a minimum of 40% of the amount earmarked for the Buy-back i.e. Rs 7,440 Lakhs (Rupees Seven Thousand Four Hundred Forty Lakhs only) within the initial half of the six months of the opening of the Buyback.
Maximum Buyback Size shall not include any other expenses incurred or to be incurred for the Buyback like filing fees payable to SEBI, brokerage cost, filing fees, advisory fees, intermediaries’ fees, public announcement publication expenses, printing and dispatch expenses, applicable taxes such as buyback tax, securities transaction tax, goods and services tax, stamp duty etc. and other incidental and related expenses) (“Transaction Cost”). The public announcement setting out the process, timelines and other statutory details of the Buyback will be released in due course, in accordance with the Buyback Regulations.
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