Majesco is engaged in a provider of core platforms and technology solutions in Insurance (Life, Pensions, and General). Majesco plans to purchase 74,70,540 shares via Buyback at ₹845 per equity share for an aggregate amount not exceeding ₹1631.26 Crores. The Majesco Buyback 2020 can only be meaningful if the share price goes below Rs 800 per share.
Majesco Buyback 2020 Details & Review
| Buyback Type | Tender offer |
| Buyback Offer Amount: | ₹ 631.26 Cr |
| Date of Board Meeting Approval | 22 July 2020 |
| Date of Public Announcement | 16 September 2020 |
| Buyback Offer Size | 25% |
| Buyback Number of Shares | 74,70,540 |
| Price Type | Tender Offer |
| Face Value | 5 |
| Buyback Price | ₹ 845 Per Equity Share |
Majesco Buyback 2020 Dates
| Majesco Buyback Record Date | 12 November 2020 |
| Opening Date | 27 November 2020 |
| Closing Date | 11 December 2020 (1.00 PM) |
| Obligation (Fund Payout) | 15 December 2020 |
| Settlement Date (Shares Payout) | 16 December 2020 |
| Offer Price | Rs. 845/- per share |
Majesco Financial Report
| Particulars(Cr) | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 |
| Sales | 757 | 826 | 806 | 988 | 1,040 |
| Expenses | 752 | 804 | 784 | 896 | 929 |
| Operating Profit | 5 | 23 | 22 | 92 | 111 |
| OPM % | 1% | 3% | 3% | 9% | 11% |
| Other Income | 9 | 8 | 22 | 34 | 42 |
| Interest | 4 | 8 | 5 | 4 | 2 |
| Depreciation | 18 | 17 | 18 | 20 | 34 |
| Profit before tax | -8 | 6 | 21 | 103 | 117 |
| Tax % | 195% | -21% | 87% | 30% | 23% |
| Net Profit | 7 | 5 | 6 | 54 | 69 |
| EPS in Rs | 2.99 | 2.17 | 2.24 | 19.07 | 24.09 |
Majesco Buyback FAQs
What is Majesco Buyback Price?
The company has fixed the Dhanuka Agritech Buyback price at ₹845.
What is the Majesco Buyback 2020 Record Date?
The company has announced 12th November 2020 as the Record Date
