Quick Heal Technologies Limited buyback of 63,26,530 Lakhs equity shares which is around 09.85% of all the existing number of equity shares at a price of ₹245 per equity share. The buyback offer not exceeding of ₹155 crore of total buyback offer size.
Quick Heal Technologies Limited Buyback Important Dates
In this section we have covered all important dates related to “Quick Heal Technologies Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are Quick Heal Technologies Limited record date and Quick Heal Technologies Limited buyback open and close dates, which one should use to participate in buyback.
|Board Meeting for Quick Heal Buyback proposal
|Quick Heal Buyback Approval date
|Public Announcement of Quick Heal Buyback
|Quick Heal Buyback Record Date
|Quick Heal Buyback opens on/Buyback Opening Date
|Quick Heal Buyback closes on/Buyback Closing Date
|Cut-off date to receive completed tender forms by Registrar
|Cut-off date for verification by the Registrar
|Cut-off date to inform Stock Exchange on acceptance or
non-acceptance of tendered Equity Shares by Registrar
|Last date of settlement of bids on the stock exchange
|Last date to return unaccepted shares by Registrar
|Last date of extinguishment of Equity Shares
Note: If anything you want to know about the buyback offer you can refer the Quick Heal Technologies Limited buyback offer documents. Click Here
How to Participate in Quick Heal Technologies Limited buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Quick Heal Technologies Limited in demat or physical form as on record date (not announced)
2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
Checkout Current Quick Heal Technologies Limited Shares market price on NSE and BSE: Quick Heal Technologies Limited
The Quick Heal Technologies Limited approved a proposal for buyback of up to 63,25,530 Lakh fully paid-up Equity Shares of the Company of face value Rs. 10 each, being 09.85% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements (“Audited Condensed Interim Financial Statements”) as on 31.03.2020, for an aggregate amount not exceeding Rs. 155 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs. 245 per share via ” Tender Route”.
About Quick Heal Technologies Limited :
Quick Heal Technologies Ltd. (Formerly Known as Quick Heal Technologies Pvt. Ltd.) is one of the leading IT security solutions company. Each Quick Heal product is designed to simplify IT security management across the length and depth of devices and on multiple platforms. They are customized to suit consumers, small businesses, Government establishments and corporate houses.
Over a span of 25 years the company’s R&D has focused on computer and network security solutions. The current portfolio of cloud-based security and advanced machine learning enabled solutions stop threats, attacks and malicious traffic before it strikes.
NECESSITY OF BUYBACK By Quick Heal Technologies Limited
The Buyback is being undertaken by the Company after taking into account the operational and strategic cash requirements of the Company in the medium term and for returning surplus funds to the Shareholders in an effective and efficient manner. The Buyback is being undertaken for the following reasons:
(i) The Buyback will help the Company to distribute surplus cash to its Shareholders holding Equity Shares thereby enhancing the overall return for them;
(ii) The Buyback, which is being implemented through the tender offer route as prescribed under the Buyback Regulations, would involve a reservation of up to 15% of the Equity Shares, which the Company proposes to buyback, for small shareholders or the actual number of Equity Shares entitled as per the shareholding of small shareholders on the Record Date, whichever is higher. The Company believes that this reservation for small shareholders would benefit a significant number of the Company’s public shareholders, who would be classified as “Small Shareholders”;
(iii) The Buyback is generally expected to improve return on equity through distribution of cash and improve earnings per share by reduction in the equity base of the Company, thereby leading to long term increase in shareholders’ value; and
(iv) The Buyback gives an option to the Eligible Shareholders to either (A) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (B) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
Company Contact Information
S-8, S-9, IInd Floor,
Centra Mall, Plot No. 177/D,
Tribune Colony, Industrial Area Phase I,