Tanla Platform Limited will buyback nearly 5,15,873 shares for about Rs.65 Crore. In a filing to the stock exchanges, Tanla Platform Limited said it will buyback 7.37% percent of the fully paid-up equity shares at a price of Rs.1260/- per share.
The board of directors of Tanla Platform Limited approved the proposal to buyback of not exceeding 5,15,873 Lakhs equity shares of the face value of Rs 1 each of the company (representing 7.37% percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs.1260/- per equity for an aggregate consideration not exceeding Rs 65 crores,” it said.
Tanla Platform Limited buyback of 5,15,873 Lakhs equity shares which is around 7.37% of all the existing number of equity shares at a price of ₹1260 per equity share. The buyback offers do not exceeding of ₹65 crores of the total buyback offer size.
Tanla Platform Limited Buyback Important Dates
In this section, we have covered all important dates related to “Tanla Platform Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are Tanla Platform Limited record date 2021 and Tanla Platform Limited buyback open and close dates, which one should use to participate in buyback.
|Board Meeting for Tanla Platform Limited Buyback proposal
|Tanla Platform Limited Buyback Approval date
|Public Announcement of Buyback
|Buyback Start Date ( Commencement Date )
|Last date for the completion of the Buy-back
Note: If anything you want to know about the buyback offer you can refer the Tanla Platform Limitedbuyback offer documents. Click Here
How to Participate in Tanla Platform Limited buyback?
In this method of share Buyback, the company will be purchasing stocks from existing shareholders of the company directly from the market.
Example: “Tanla Platform Limited” announces buyback plan of its shares up to a value of Rs 1260, it means that the company will be purchasing shares of “Tanla Platform Limited ” from the open market at a price not exceeding Rs.1260 per share.
Scenario 1– If the share price is below Rs. 1260 in that case, the company will put buy order at Current Market Price and purchase shares.
Scenario 2– If the share price is above Rs. 1260, in that case, the company will put buy order at Rs. 1750 only and if someone is ready to sell at Rs.1750 or less then only the company will get back shares.
Checkout Current Tanla Platform Limited Shares market price on NSE and BSE: Tanla Platform Limited
The Tanla Platform Limited approved a proposal for buyback of up to 5,15,873 Lakh fully paid-up Equity Shares of the Company of face value Rs. 1 each, being 7.37% 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. 65 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. 1260 per share via ” Open Offer”.
About Tanla Platform Limited :
We at Tanla Platforms Limited (formerly known as Tanla Solutions Limited) started our journey as the new millennium set in with a small group of mobile messaging experts, with a base in Hyderabad, India, to create a world-class messaging service.
From 2000 till now, we have come a long way. Today, we are proud to have achieved global leadership in our domain as one of the largest Cloud Communication providers in the world.
We are innovating the way the world communicates, continuously raising the bar through enhanced speed, ease, and simplicity of our Cloud solutions. Over the years, we have developed and delivered cutting-edge technology and products which meet the discerning needs of a diverse clientele, from enterprises to carriers across geographies.
The standards we have set are industry-defying, difficult to surpass even by us. But then, that’s what we do best, beating us at our own game.
NECESSITY OF BUYBACK By Tanla Platform Limited
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
:a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by a reduction in the equity base, thereby leading to a long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
Tanla Platform Limited Buyback Registrar
KFin Technologies Private Limited
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda,
Serilingampally Mandal, Hyderabad 500 032
Contact Person : M. Murali Krishna
Phone : 1- 800-309-4001
Email : email@example.com
SEBI Registration : INR000000221
Validity period : Permanent Registration