Mumbai, January 27, 2025—Prime Securities Limited has announced the approval of a Tender Buyback for up to 6,00,000 equity shares at a price of Rs. 305 per share. This buyback, valued at Rs. 18.30 crore, represents 1.79% of the company’s total paid-up equity capital, based on the latest audited balance sheet as of March 31, 2024. The buyback size will account for approximately 16.98% of the company’s fully paid-up equity share capital and free reserves.
The Tender Buyback will be executed through the SEBI (Buyback of Securities) Regulations, 2018, utilizing the Stock Exchange mechanism. This strategic move enhances shareholder value by allowing eligible shareholders to tender their shares proportionately. The record date for eligibility will be announced shortly.
Key Highlights of the Buyback Proposal:
- Total Buyback Amount: Rs. 18.30 crore
- Buyback Price: Rs. 305 per share
- Shares to be Repurchased: Up to 6,00,000 shares, representing 1.79% of the total paid-up capital
- Buyback Mechanism: Tender Offer route through Stock Exchange mechanism
- Shareholder Approval: Subject to Special Resolution approval by shareholders
The current shareholding pattern (as of January 24, 2025) shows a diversified shareholder base, including mutual funds, banks, and foreign institutional investors, with a significant portion (18.23%) held by directors and key management personnel.
Once the buyback process concludes, the post-buyback shareholding pattern will be updated to reflect the changes in equity distribution.
Key Shareholding Breakdown:
- Directors & KMPs: 18.23%
- Mutual Funds: 4.83%
- Foreign Portfolio Investors: 4.45%
- Individual Shareholders: 38.31%