Wednesday, March 7, 2018

MOIL Ltd Buyback

MOIL has offered  buyback of its shares worth Rs 2,104 million at the buyback price of Rs 240 per share . The record date for the buyback was 20 February 2018 and the applicable ratio will be announced later. The date of opening of the Buyback Offer is 7th March 2018 and the date of closing is 20th March 2018.
MOIL will buy back 87,66,720 shares (3.29% of the total issued paid-up share capital of the company as on 31 March 2017) at the buyback price of Rs 240 per share .
The promoters will also  participate in the buyback.
Valuations : At offer value of Rs 240, each Equity share is quoted at a P/E of 15.6x (standalone) and 20.8x (including joint ventures) based on trailing twelve-month earnings, which is a Higher Value for a commodity based company & I / we will prefer to surrender in Buybacks.
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