Last date for buyback eligibility: Record date for these 2 companies tomorrow

The boards of directors of Technocraft Industries (India) and Suprajit Engineering have announced share buybacks of Rs 130 crore and Rs 112 crore, respectively, with August 27 set as the record date.

To be eligible to participate in the share buyback programs, investors must purchase shares of these companies today so that their names appear in the company records as of the record date, i.e., August 27.

Here is a brief summary of the buyback programs for both companies:

Technocraft Industries

Technocraft Industries has announced a Rs 130 crore share buyback at a price of Rs 4,500/share, representing a premium of nearly 18% over Friday’s closing price.

The buyback will be conducted through a tender offer.

Before the buyback, the promoters have 74.6% of the company’s shares, while the remaining 25.4% is held by the public.

Historically, Technocraft Industries has conducted share buybacks in 2015, 2017, and 2022, according to data available on Trendlyne.

Over the past year, the company’s shares have risen 92%, and over the last two years, they have advanced more than fourfold. So far this year, the stock has surged by 51.4%.

The scrip closed flat on Friday at Rs 3,810.50 on the BSE.

Suprajit Engineering

Suprajit Engineering has announced a share buyback worth Rs 112.5 crore at a buyback price of Rs 750, representing a nearly 33% premium over Friday’s closing price.

The buyback will be conducted through a tender offer.
Previously, the company announced a share buyback in 2021, according to data available on Trendlyne.

As of August 9, the pre-buyback shareholding pattern shows that 44.6% of the company’s equity is held by the promoter and promoter group, while the remaining 55.4% is held by public shareholders, including mutual funds, alternative investment funds (AIFs), and foreign institutional investors (FIIs).

Shares of Suprajit Engineering have increased by nearly 45% over the past year, and on a year-to-date (YTD) basis, the stock has risen by 37.6%.

The stock closed flat on Friday at Rs 565.45 on the BSE.

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