SIS Limited has issued a Postal Ballot Notice dated January 28, 2025, seeking approval from its members for a proposed buyback of fully paid-up Equity Shares.
The company proposes to buyback up to 37,12,871 Equity Shares of face value ₹5 each.
The buyback price is fixed at ₹404 (Indian Rupees Four Hundred and Four only) per Equity Share.
The buyback will be conducted through the "tender offer" route on a proportionate basis via the Stock Exchange mechanism.
The aggregate amount proposed to be utilized for the buyback is not exceeding ₹150,00,00,000 (Indian Rupees One Hundred and Fifty Crores only), excluding transaction costs.
This proposed buyback represents 2.57% of the total number of Equity Shares in the paid-up equity capital as of December 31, 2024.
The offer size constitutes 15.19% and 6.49% of the aggregate of the company’s fully paid-up equity share capital and free reserves as per standalone and consolidated audited financials, respectively, for the year ended March 31, 2024.
The buyback requires approval by way of a Special Resolution from the members.
The remote e-voting period for the postal ballot commences on Tuesday, April 29, 2025, at 9:00 A.M. IST and will end on Wednesday, May 28, 2025, at 5:00 P.M. IST.
The cut-off date for determining the eligibility of members for voting is Friday, April 25, 2025.
The results of the postal ballot are expected to be announced on or before May 30, 2025.
The objectives of the buyback are to optimize returns to shareholders and enhance overall shareholders’ value.