Manager to the Buyback by Ajanta Pharma Limited

I] Deal Highlights:

  • Ajanta Pharma Limited acquired equity shares worth of ~INR 3,150 mn through buyback route.
  • The Company bought back 22,10,500 Equity Shares through Tender Offer Mechanism which accounted for 2.59% of total equity shares*
  • Strong Response from all shareholders:
Small Shareholder Category 2.1x
General Category
Promoter holding increased from 66.11% to 66.21%

II] Our Contribution:

  • We managed the entire buyback process, guided the team on key aspects of the deal and ensured timely completion
  • This is the 1st transaction undertaken in the recently amended Buyback Regulations
  • In spite of tight pricing at 16.81% premium on the market price on the board meeting date, the buyback saw robust subscription of 29.1x times
  • With this transaction, Edelweiss closed 3 buyback deals in last 9 months (Ajanta Pharma Limited- April 2023, SIS Limited-November 2022 ,Route Mobile Limited-September 2022)

*pre buyback not adjusted for Bonus undertaken by the Company

Manager to the Buyback by Route Mobile Limited

Manager to the Buyback by Shriram Pistons & Rings Limited