Tanla Platforms buyback: Price, date, acceptance ratio, other details. Should you participate?
Tanla Platforms, on June 16, announced that the board has approved a share buyback of 20 lakh shares, which accounts for approximately 1.5 per cent of the company's total equity.
The buyback will be conducted at a price of ₹ 875 per share, which is 33 per cent premium over the previous closing price of ₹ 657.15 on the National Stock Exchange (NSE).
'We wish to inform that the Board of Directors of the Company in its meeting held on June 16, 2025, considered and approved the proposal for buyback of up to 20,00,000 fully paid up equity shares of the Company having a face value of INR 1/- (Indian Rupee One Only) ('Equity Shares') representing up to 1.49 % of the total number of Equity Shares in the existing total paid-up Equity Share capital of the Company, at a price of INR 875/- (Indian Rupee Eight Hundred and Seventy Five only) per Equity Share ('Buyback Offer Price'), payable in cash for an aggregate amount not exceeding INR 175,00,00,000/- (Indian Rupee One Hundred and Seventy Five Crore only) (the 'Buyback Offer Size'), being 24.81% and 7.78% of the aggregate paid-up Equity Share capital and free reserves of the Company as per the latest audited standalone and consolidated financial statements of the Company as on March 31, 2025, respectively (the 'Buyback'),' the company said in an exchange filing.
The company will circulate the postal ballot notice exclusively through electronic means. Remote e-voting will begin at 9:00 a.m. on Tuesday, June 17, 2025, and conclude at 5:00 p.m. on Wednesday, July 16, 2025.
The record date for the share buyback has not been decided yet.
The buyback price of ₹ 875 is almost same to the stock's trading level in 2022, when the company had announced its previous buyback.
Avinash Gorakshkar, Head of Research at Profitmart Securities, recommends investors to apply for the Tanla Platforms buyback offer. However, he believes that Tanla Platform buyback size is small, and more applications for the buyback offer can be expected.
'The Tanla Platform's buyback size is just 1.49% of the total paid-up shares of the company. So, the Tanla Platform buyback size is small, and we expect more applications for the buyback offer. Hence, the Tanla Platform's buyback ratio of acceptance is expected to remain low. But, looking at the premium and market conditions, Tanla Platforms shareholders are advised to apply for the Tanla Platforms buyback offer,' Gorakshkar said.
On the other hand, Anshul Jain, Head of Research at Lakshmishree Investments, pointed out that volumes during the base formation have been broadly accumulative, the recent Tanla Platforms buyback announcement failed to ignite momentum.
'Tanla Platforms share price is developing a 107-day-long rounding bottom pattern on the daily chart and is gradually approaching the neckline resistance at ₹ 776. This indicates that traders are awaiting a technical breakout above the neckline. A strong close above ₹ 776, supported by volume, will confirm the pattern and open upside potential toward the ₹ 850 to ₹ 875 zone,' Jain said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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