Key Quantitative Figures
- Buyback Size: Up to 144,639 fully paid-up equity shares of face value ₹10 each
- Buyback Price: ₹2,005 per equity share
- Aggregate Amount: Not exceeding ₹29,00,01,195 (₹29 crore)
- Percentage of Capital: 2.38% of total paid-up equity share capital
- Percentage of Reserves: 9.39% of aggregate paid-up capital and free reserves
- Record Date: October 28, 2026 for determining eligibility
- Offer Period: November 3, 2026 to November 9, 2026
Schedule of Activities
- Record Date: October 28, 2026 (Wednesday)
- Buyback Opening Date: November 3, 2026 (Tuesday)
- Buyback Closing Date: November 9, 2026 (Monday)
- Last date for receipt of tender forms: November 9, 2026
- Last date for settlement completion: November 17, 2026 (Tuesday)
- Last date for extinguishment of shares: November 27, 2026 (Friday)
Parties Involved
- Manager to Buyback: PL Capital Markets Private Limited
- Registrar to Buyback: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
- Escrow Agent: HDFC Bank Limited
- Company Broker: Prabhudas Lilladher Private Limited
- Legal Advisors: Rajani Associates
- Statutory Auditors: BSR & CO. LLP
- Designated Stock Exchange: BSE Limited
Authority and Approval
- Board approval obtained on October 21, 2026 through resolution
- No shareholder approval required as buyback size is below 10% threshold
- Compliance with Sections 68, 69, 70 of Companies Act, 2013
- Compliance with SEBI (Buy-Back of Securities) Regulations, 2018
Capital Structure Impact
- Pre-buyback paid-up capital: ₹6,08,86,220 (60,88,622 shares)
- Post-buyback paid-up capital (assuming full acceptance): ₹5,94,39,830 (59,43,983 shares)
- Capital reduction of 1,44,639 shares
- Transfer to capital redemption reserve: Nominal value of bought-back shares
Shareholding Pattern Impact
- Promoter holding (Tata Motors Limited): 29,82,214 shares (48.98% pre-buyback)
- Expected promoter holding post-buyback (assuming full acceptance): 50.17%
- Public shareholding will reduce from 51.02% to 49.83%
- Minimum public shareholding requirements will be maintained
Funding Sources
- Funds sourced from free reserves and/or permitted sources
- No borrowed funds from banks or financial institutions
- Escrow account with HDFC Bank with ₹7.5 crore deposit
- Firm financial arrangements certified by Siddhi Bagkar & Co., Chartered Accountants
Reservation Categories
- Reserved Category for Small Shareholders: 21,696 shares (15% of buyback size)
- Small shareholders defined as those holding equity shares with market value not more than ₹2,00,000
- General Category: 1,22,943 shares for all other eligible shareholders
Promoter Participation
- Promoter and promoter group expressed intention not to participate via letter dated October 19, 2026
- Includes Tata Motors Limited and 27 other promoter group entities
- Only Tata Motors Limited holds shares (29,82,214 shares)
Tax Implications
- Consideration treated as full value under Section 69 of Income Tax Act, 2025
- Capital gains tax applicable to shareholders
- STT applicable on transaction
- Different tax treatment for promoters vs non-promoters
- No TDS deduction for resident shareholders
Financial Impact
- Reduction in net worth from ₹30,859.30 lakh to ₹27,959.29 lakh (assuming full acceptance)
- Improvement in return on net worth from 24.86% to 26.21%
- Improvement in EPS from ₹114.79 to ₹117.58
- Debt-equity ratio remains at 0.03 times
Important Conditions
- Company will not issue new shares for 1 year except discharge of subsisting obligations
- Promoter group will not deal in shares during buyback period
- No further buyback within 1 year of completion
- Maintenance of statutory registers and records
Documents Available for Inspection
- Certificate of Incorporation, MOA, AOA
- Audited financial statements for FY2024, 2025, 2026 and September 2026 quarter
- Board resolutions, auditor reports, declaration of solvency
- Escrow agreement, public announcement
Investor Grievance Redressal
- Compliance Officer: Santhosh Shadadal
- Registrar: MUFG Intime India Private Limited
- Manager: PL Capital Markets Private Limited
- All available for investor queries during offer period
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