Tulive Developers Buyback as approved in its board Meeting on 22-02-19, entails a buyback of up to 4,80,000 (Four Lakhs Eighty Thousand Only) Equity Shares of the Company of the face value of Rs. 10 each of the Company at a price of Rs. 350 per Equity Share aggregating to Rs. 16.80 crore. Tulive Developers Buyback is 16.91% of the paid-up share capital of the Company and is on a proportionate basis under “Tender Offer route”.
See List of all Forthcoming and Recent Buybacks
See Buyback News
Updates
Tulive Developers Buyback 2019, 2018
Buyback 2019 | Buyback 2018 | |
|---|---|---|
| Announcement | 19-02-19 | |
| Board meet | 22-02-19 | 27-10-17 |
| Type | Tender | Tender |
| Buy Back Price | 350 | 260 |
| MP befo BM | 242 | |
| % Premium on MP | 44.63% | |
| BuyBack Size- Rs. Cr | 16.8 | 22.1 |
| BuyBack Size- Shares | 480,000 | 850000 |
| Tot No.of shares | 2,634,375 | 3484375 |
| % Buyback | 18.22% | 24.39% |
| Equity Capital- cr | 2.63 | 3.48 |
| FV of Share in Rs. | 10 | 10 |
| Record Date | 22-04-19 | 21-12-17 |
| Buy Back Issue date | 22-05:04-06-19 | 19-01:02-02-18 |
| Shares reserved- Retail | 72,000 | 56,860 |
| Shareholders on RD | 245 | 226 |
| Shares on RD | 42993 | 56,860 |
| Buyback Entitlement | 100% | 100% |
| Shares Tendered | 5440 | |
| Tendering ratio | 12.65% | |
| Retail response | 7.56% | |
| Aceeptance % | 100% | 100% |
Tulive Developers Buyback : Estimate of Acceptance Ratio:
There is little data to available to estimate of shareholding of Tulive Developers. Tulive Developers Buyback 2018 resulted in 100% Buyback. This can get repeated this year well given that the sharely are very thinly traded and promoter holding the company is high. However little liquidity makes the buyback risky.
Buyback of Shares: A Primer for Retail Investor
About Tulive Developers
- Tulive is the real estate co. from the house of G K Shetty.
- The company was formerly known as Kerry Jost Engineering Limited. Tulive Developers Limited was incorporated in 1962 and is based in Chennai, India
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Tulive Developers: Price Trend, Summary of Financials
| (in Cr.) | 2018 | 2017 |
| Income Statement | ||
| Revenue | 0.06 | 0.09 |
| Other Income | 1.66 | 9.32 |
| Total Income | 1.72 | 9.41 |
| Expenditure | -0.66 | -0.25 |
| Interest | — | — |
| PBDT | 1.06 | 9.16 |
| Depreciation | -0.01 | -0.02 |
| PBT | 1.05 | 9.14 |
| Tax | 0.12 | 0.02 |
| Net Profit | 1.16 | 9.16 |
| Equity | 2.63 | 3.48 |
| EPS | 2.86 | 26.3 |
Assessment: Tulive Developers Buyback
- The Company’s Shares are currently listed on BSE only.
- Stock is trading at 0.95 times its book value of 258
- The company is virtually Debt free
- The company does not give any dividend and has resoted tgo Buyouts to distribute cash.
- The company shares are scarcely traded on BSE.
- The company is a small cap stock with market cap of Rs. 64 crore only and is very thinly traded. There is good chance of 100% acceptance in buyback provided there are not many new buyers and also the buyback proceeds to completion. In case of less than 100% buyback the investor may land in a position that he could face issues in selling the remaining shares.
- These are my estimates only and please do your own diligence in this matter as even what may appear as totally safe arbitrage investments in stock markets have inherent risks.
Standard disclaimer: I am not a SEBI registered analyst. I may have vested interest in every stock I discuss. Please do your own due diligence as stock market investments have high degree of inherent risk. Further the data in the post is prone to errors.