Small-cap real estate stock declares buyback of shares at 45% premium. Top five details

Ashiana Housing buyback of shares: Ashiana Housing shares are one of those small-cap stocks that has delivered whopping return to its shareholders in recent stock market rally. The real estate stock has been in uptrend after ushering in the new financial year 2023-24. However, the small-cap stock has remained an idea 'buy on dips' stock throughout the year 2023. In YTD time, this small-cap real estate stock has surged from around ₹140 to ₹205 apiece levels, delivering around 45 per cent return to its long term positional shareholders. However, there is a piece of stock market news for Ashiana Housing shareholders. 

The small-cap company has declared buyback of shares at price of ₹301 per share. Ashiana Housing share price is currently quoting around ₹205 apiece on NSE, which means the buyback of shares has been offered at near 45 per cent premium. The board of directors of the company has set record date for buyback of shares on 28th July 2023 under the tender offer route. The share buyback offer won't exceed ₹55 crore in size.

Ashiana Housing buyback news

Ashiana Housing Ltd informed Indian stock market exchanges about the buyback of shares citing, "The Board of Directors of Ashiana Housing Limited (hereinafter referred to as the “company”) in its meeting held today i.e. on 12th July 2023, from 03:00 p.m. to 05:10 p.m. has unanimously approved the following: 1] The proposal to buyback not exceeding 18,27,242 (Eighteen Lakhs Twenty-Seven Thousand Two Hundred Forty-Two) equity shares of face value of Rs. 2 (representing 1.78% of the total number of equity shares in the paid-up share capital of the company) at a price of Rs. 301/- (Rupees Three Hundred and one) per equity share (hereinafter referred to as the “Buyback Price”) payable in cash for an aggregate amount not exceeding Rs. 55,00,00,000/- (Rupees Fifty-five Crores) (hereinafter referred to as the “Buyback Size”).

"The said Buyback is proposed to be made from the existing shareholders of the company as on the record date i.e. 28 July 2023 (Friday) on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (“Buyback Regulations”) and the Companies Act, 2013, the Companies (Management and Administration) Rules, 2014, subject to all other applicable statutory approvals. The Buyback size does not include transaction costs viz brokerage, applicable taxes such as securities transaction tax, GST, stamp duty, any expenses incurred or to he incurred for the Buyback like filing fees, advisors/legal fees, public announcement publication expenses etc. and other incidental and related expenses," Ashiana Housing Ltd added.

Here we list out top five Ashiana Housing buyback news that you may like to know:

1] Ashiana Housing buyback price: The real estate company has declared buyback price at ₹301 per share.

2] Ashiana Housing buyback date: The real estate company has fixed record date for share buyback on 28th July 2023. This means, last date to buy Ashiana Housing shares is 27th July 2023.

3] Ashiana Housing buyback size: The buyback of shares won't exceed worth of ₹55 crore.

4] Ashiana Housing buyback route: The buyback of shares would be done via tender route.

5] Ashiana Housing buyback acceptance ratio: The acceptance ratio is expected to remain low as the buyback has been offered at whopping 45 per cent premium against the current Ashiana Housing share price of near ₹205 apiece on NSE.