J. Sagar Associates (JSA) advised HSIL Limited (HSIL) in buyback of its equity shares from open market route through the stock exchanges. The buyback offer opens from September 30, 2020 and may continue for a period of six months, unless closed earlier by board of directors in accordance with the applicable law.
The buyback is expected to achieve the objective of returning surplus funds to shareholders, optimizing the capital structure and also improve return on equity shares through distribution of surplus funds to shareholders.
HSIL is a listed company securities of which are listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) and is engaged in the business of manufacturing (i) building products like sanitary ware, faucets, UPVC and CPVC pipes, fittings etc, (ii) certain specified consumer products like water heaters, and (iii) packaging products like glass bottles, PET bottles, security caps and closures.
JSA Team comprised – Partner – Manvinder Singh and Associates – Aman Parnami and Vishakha Singh