Cyient publishes addendum correcting buyback Letter of Offer
Cyient Limited published an addendum to its Letter of Offer for the ₹720 crore buyback to correct clerical errors in the original document dated June 19, 2026. The company is repurchasing up to 64,00,000 fully paid-up equity shares at ₹1,125 per share, representing 5.76% of the total paid-up equity share capital. Key corrections include updating references to the Income Tax Act, 2025, adjusting the ASOP allotment date to October 13, 2025, and rectifying the spelling of director names. The buyback is funded through free reserves and internal accruals, with Axis Capital Limited as the manager to the offer.
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Cyient Limited has published a newspaper advertisement regarding an addendum to its Letter of Offer for the ₹720 crore buyback, correcting clerical errors in the original document filed on June 19, 2026. The company is repurchasing up to 64,00,000 fully paid-up equity shares at ₹1,125 per share, representing 5.76% of the total paid-up equity share capital. The buyback opened on June 23, 2026, and closes on June 30, 2026, with the record date fixed as June 17, 2026. The corrections ensure accuracy in regulatory filings and shareholder communications.
Key Corrections
The addendum addresses several discrepancies necessitated by clerical errors in the Letter of Offer. References to the Income Tax Act, 1961, must now be read as the Income Tax Act, 2025. The ASOP allotment date has been corrected from October 13, 2026, to October 13, 2025. Additionally, the spelling of "Bodapanu" has been corrected to "Bodanapu" in relevant sections, and the effective date of reappointment for Venkata Rama Mohan Reddy Bodanapu is confirmed as October 11, 2025.
Offer Details
The financial and operational parameters of the buyback offer remain unchanged. The repurchase is funded through the company's free reserves, securities premium account, and internal accruals. The offer constitutes 20.31% and 14.09% of the aggregate of the paid-up share capital and free reserves based on the standalone and consolidated financial statements as of March 31, 2026, respectively.
| Parameter | Details |
|---|---|
| Buyback Size | ₹720 crore |
| Price per Share | ₹1,125 |
| Number of Shares | 64,00,000 |
| Percentage of Paid-up Capital | 5.76% |
| Buyback Window Opening Date | June 23, 2026 |
| Buyback Window Closing Date | June 30, 2026 |
| Record Date | June 17, 2026 |
Entitlement Ratio
The buyback includes a reservation for small shareholders. The entitlement ratio for eligible shareholders is specified below:
| Category of Eligible Shareholders | Buyback Entitlement |
|---|---|
| Reserved category for Small Shareholders | 2 Equity Share for every 19 Equity Shares held on the Record Date |
| General category for all other Shareholders | 1 Equity Share for every 14 Equity Shares held on the Record Date |
Regulatory Compliance
The buyback is being executed in accordance with the Companies Act, 2013, and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018. Axis Capital Limited is the manager to the offer, and KFin Technologies Limited is the Registrar to the Buyback. The Board of Directors accepts responsibility for the accuracy of the information contained in the offer documents and the addendum.
Historical Stock Returns for Cyient
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.24% | +0.46% | -3.81% | -19.49% | -31.28% | +1.75% |
How will the correction of the Income Tax Act reference impact the net tax liability for shareholders participating in the buyback?
What impact will the 5.76% reduction in equity share capital have on Cyient's earnings per share (EPS) post-buyback?
Will the utilization of ₹720 crore from free reserves and internal accruals affect Cyient's ability to fund future capital expenditures or acquisitions?
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