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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Sobha Ltd    SOBHA   INE671H01015

SOBHA LTD (SOBHA)
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Sobha : buyback offer to open for subscription on September 19

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09/14/2017 | 09:37am CET

The board of directors of Sobha Limited have approved the buyback of up to 14,58,823 equity shares representing up to 1.5% of the total paid-up equity share capital of the company at a price of Rs 425 per equity share. The board of directors of Sobha Limited have approved the buyback of up to 14,58,823 equity shares representing up to 1.5% of the total paid-up equity share capital of the company at a price of Rs 425 per equity share.

The buy-back would involve reservation for small shareholders, which will be 15% of the number of equity shares that the company proposes to buyback, or their entitlement, whichever is higher. The company will adopt the tender offer route for the purpose of buy-back. The board approved the buyback offer at their meeting held on August 4, 2017.

The aggregate paid-up share capital and free reserves of the company as on March 31, 2017 was Rs 24,612.12 million and under the provisions of the act, the funds deployed for buy-back shall not exceed 10% of the paid-up capital and free reserves of the company.

The promoters hold 56.08% of equity shares in the total paid up equity share capital of the company as on the date of public announcement and the post buy-back holding of the promoters in the company may increase from the current or present 56.08% to 56.19% of equity shares in the total paid up equity share capital.

ICICI Securities has been appointed as the manager to the buyback offer which is going to open for subscription on September 19, 2017 and will close on October 3, 2017.

(c) 2017India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( INR)
Sales 2018 25 630 M
EBIT 2018 4 513 M
Net income 2018 1 915 M
Debt 2018 21 003 M
Yield 2018 0,66%
P/E ratio 2018 29,55
P/E ratio 2019 24,53
EV / Sales 2018 3,02x
EV / Sales 2019 2,54x
Capitalization 56 381 M
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Technical analysis trends SOBHA LTD
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 539  INR
Spread / Average Target -9,3%
EPS Revisions
Managers
NameTitle
Jagdish Chandra Sharma Vice Chairman & Managing Director
Ravi Puthan N. C. Menon Executive Chairman
Subhash Mohan Bhat Chief Financial Officer
Raghu Balan Executive VP-Quality, Safety & Technology
Puthan Naduvakkat C. Menon Chairman-Emeritus
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