New Delhi. Over the past few years, the stock market has produced many multibagger stocks. One of these is the multibagger stock of SP Apparels. After increasing for a long time, now the share price of the company has increased from Rs.70 to Rs.360 level. That is, during the last two years, the company’s share prices have seen a jump of close to 400 percent. Now the company is going to buy its shares at a premium of 60 percent. In the words of the market, the company is going to buyback.
Let us tell you that the board of directors of this small cap company has approved the buy-back at Rs 585 per share. This means that according to the current share price, eligible investors will get 60 percent profit per share. For information, let us tell you that this year the share prices of the company have seen a decline of up to 16.34 percent. Let us know about this buyback in details –
1- What is the buyback price – The company will pay Rs 585 per share for this buyback.
2- Buyback date – Buyback will be open from 3 November 2022 to 17 November 2022.
3- What will be the buyback route – This process will be done through tender.
4- Buyback ratio- The company will buy two shares of anyone who had 27 shares of the company till the record date. At the same time, if there are 48 shares for others, the company will buy back the shares.
5- What is the record date? The record date for the company’s buyback was October 7, 2022.
On the other hand, if we talk about the boom seen in the shares of this company, then any investor who has invested in this company during the last few years is expected to get a big profit of 60%.