Description
BSE announces the opening of a tender offer buyback window for Jagsonpal Pharmaceuticals Limited, offering to repurchase up to 16,00,000 equity shares at Rs.250 per share for an aggregate consideration not exceeding Rs.40 crores.
Summary
BSE has announced the opening of an Offer to Buy (Acquisition Window) for the buyback of equity shares of Jagsonpal Pharmaceuticals Limited. The company proposes to repurchase up to 16,00,000 (Sixteen Lakhs) fully paid-up equity shares of face value Rs.2 each at Rs.250 per share via a tender offer route through the stock exchange mechanism, for an aggregate consideration not exceeding Rs.40 crores. The buyback window is open from May 08, 2026 to May 14, 2026.
Key Points
- Company: Jagsonpal Pharmaceuticals Limited
- Offer Type: Buyback via tender offer through stock exchange mechanism
- Shares Offered for Buyback: Up to 16,00,000 (Sixteen Lakhs) fully paid-up equity shares
- Face Value: Rs.2 per share
- Buyback Price: Rs.250 per share (payable in cash)
- Aggregate Consideration: Not exceeding Rs.40 crores (excluding transaction costs)
- Record Date: Monday, May 04, 2026
- Buyback Offer Size: Represents 18.35% of aggregate fully paid-up equity share capital and free reserves as per audited financials for FY ended March 31, 2025
- Basis: Proportionate basis among eligible equity shareholders/beneficial owners as on the record date
Regulatory Changes
This offer is conducted pursuant to SEBI’s mechanism for acquisition of shares through stock exchanges under tender offers, as established by:
- SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
- SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated December 09, 2016
BSE’s revised guidelines have been issued via notices: 20170210-16 (Feb 10, 2017), 20190424-35 (Apr 24, 2019), 20200528-32 (May 28, 2020), 20201102-43 (Nov 02, 2020), and 20210825-62 (Aug 25, 2021).
Compliance Requirements
- Trading Members and Custodians must note the opening of the acquisition window and facilitate client participation in the buyback.
- Eligible shareholders (those holding equity shares as on the record date of May 04, 2026) may tender their shares during the buyback window.
- All market participants must adhere to SEBI circular no. CFD/DCR2/CIR/P/2016/131 and BSE notice no. 20170210-16 and 20190424-35 when processing this offer.
- A Letter of Offer is attached to the notice and must be reviewed by market participants.
Important Dates
| Event | Date |
|---|---|
| Notice Date | May 07, 2026 |
| Record Date | Monday, May 04, 2026 |
| Buyback Window Opens | Friday, May 08, 2026 |
| Buyback Window Closes | Thursday, May 14, 2026 |
Impact Assessment
This buyback offers eligible shareholders of Jagsonpal Pharmaceuticals Limited an opportunity to tender their shares at Rs.250 per share through the stock exchange mechanism. The offer represents 18.35% of the company’s aggregate equity capital and free reserves, indicating a significant capital return initiative. At Rs.250 per share versus a Rs.2 face value, the buyback is at a substantial premium, which may be attractive to existing shareholders. Trading members and custodians must be prepared to process tender instructions from clients during the May 08–14, 2026 window. The buyback is limited to proportionate allotment, so not all tendered shares may be accepted if oversubscribed.
Impact Justification
Direct shareholder action required — eligible equity holders as of the May 04, 2026 record date must participate in the buyback window (May 08–14, 2026) to tender shares at a premium price of Rs.250 per share. Affects trading members, custodians, and shareholders of Jagsonpal Pharmaceuticals.