DSIJ Mindshare

Rs 107,99,94,500 Buy back announced by this company, stock generated a multibagger return of 1300 per cent, do not miss the opportunity!
Rakesh Deshmukh

Rs 107,99,94,500 Buy back announced by this company, stock generated a multibagger return of 1300 per cent, do not miss the opportunity!

Impressively, the stock has generated a return of 274 per cent in the past three years

Siyaram Silk Mills Limited has taken a significant stride in its financial strategy, with the Board of Directors approving a buy-back plan for 16,61,530 equity shares.

This move, valued at Rs 107,99,94,500 and priced at Rs 650 per share, corresponds to 3.54 per cent of the company's total shares.

The decision adheres to the guidelines of the Securities and Exchange Board of India, specifically the "Tender Offer" protocol under the Buy-Back of Securities regulations.

Notably, the buy-back amount constitutes 9.48 per cent of the equity share capital and 9.50 per cent of the free reserves, excluding related expenses like taxes and fees.

This strategic step underscores Siyaram's commitment to enhancing shareholder value and its robust financial standing, supported by the audited financial statements for the period ending March 31, 2023.

The company has set September 18, 2023, as the record date for this buy back.

Also, Check: This Company announced a bonus share for its investor in the ratio of 1:4.

As of Friday's close, the company's shares were closed at Rs. 551.90 on the BSE. The current market capitalization stands at Rs. 2587 crore.

Impressively, the stock has yielded a 274 percent return in the past three years. Moreover, the stock has delivered an astounding 1340 per cent return to investors over the past ten years.

Investors must keep this stock on their radar.

Disclaimer: This article is for informational purposes only and not investment advice.

Previous Article 52-week high alert: This multibagger civil construction company signs MoU with Indian Green Building Council
Next Article Breaking records: This multibagger small-cap stock reports highest ever quarterly Revenue, EBITDA, PBT and PAT since inception; hits fresh 52-week high!
Print
19471 Rate this article:
3.6
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR