New Delhi. Over the years, the stock market has produced many multibagger stocks. One of these is the multibagger stock of SP Apparels. After a long hike, now the share price of the company has increased from Rs 70 to Rs 360. 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 market terms, the company is going to do a buyback.
Let us tell you that the board of directors of this small cap company has approved buy-back at Rs 585 per share. This means that at the current share price, eligible investors will get a profit of 60 percent 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 in details about this buyback topic –
1- What is Buyback Price – The company will pay Rs 585 per share for this buyback.
2- Date of Buyback – Buyback will be open from 3rd November 2022 to 17th 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, it will buyback the company’s shares.
5- What is the record date? The record date for the company’s buyback was 7 October 2022.
On the other hand, if we talk about the jump seen in the shares of this company, then any investor who has invested in this company during the last few years is expected to make a big profit of 60%.