Oswal Woollen Mills Ltd., the flagship company of Nahar group began its operations in 1949 in Ludhiana. Initial focus was on hosiery and textile fabrics; in 1972 it set up its wool combing unit sensing the huge business opportunity in the domestic readymade knitwear.
Initially having expertise in hosiery and woollens it was in 1984 when Monte Carlo was launched as a brand, which was a significant step in the evolution of branded garment industry in India. Since then, it has been catering to the ever-growing demands of the Clothing and Fashion industry, in India.
Being the market leader and enjoying wide spread recognition in the woolen segment, the flagship Company, OWM in order to make Monte Carlo an all season brand and to capitalize on the brand name, entered into cotton segments. In order to have a more focused approach to the Monte Carlo business, the readymade garment business was demerged from Oswal Woolen Mills to Monte Carlo Fashions Limited in the year 2011-12 and Vanaik Spinning Mills Limited was selected as its franchisee and to look after of its Ecommerce business
Being the market leader and enjoying wide spread recognition in the woolen segment, the flagship Company, OWM in order to make Monte Carlo an all season brand and to capitalize on the brand name, entered into cotton segments. In order to have a more focused approach to the Monte Carlo business, the readymade garment business was demerged from Oswal Woolen Mills to Monte Carlo Fashions Limited in the year 2011-12 and Vanaik Spinning Mills Limited was selected as its franchisee and to look after of its Ecommerce business
Monte Carlo Fashions Limited Buy-Back Details
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| Date of Board Meeting for Buyback Proposal | 30-11-2018 |
| Date of Buyback Approval | 30-11-2018 |
| Date Public Announcement of Buyback | 30-11-2018 |
| Buyback Type | Tender Offer |
| Buyback Record Date | 22-02-2019 |
| Buyback Opening Date | - |
| Buyback Closing Date | - |
| Buyback Amount | ₹ 55 Cr |
| Buyback Number of Share | 10,00,000 |
| Buyback Price | ₹ 550 Per Share |
| Face Value | ₹ 10 |
| Holding Time | 3 Months |
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Profit acceptance Ratio
Buy 363 Shares at CMP ₹ 388 [2,00,000/550= 363] |
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| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Buy Price | ₹ 388 | ₹ 388 | ₹ 388 | ₹ 388 |
| Amount Invested in Buyback | ₹ 1,40,844 | ₹ 1,40,844 | ₹ 1,40,844 | ₹ 1,40,844 |
| No. of Shares Buy | 363 | 363 | 363 | 363 |
| Earning Per Share | ₹ 162 | ₹ 162 | ₹ 162 | ₹ 162 |
| No. of Shares Buy-Back | 120 | 182 | 272 | 363 |
| BuyBack Profit | ₹ 19405 | ₹ 29403 | ₹ 44104 | ₹ 58806 |
| Profit(%) | - % | - % | - % | - % |
Monte Carlo Fashions Limited Contact Details
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Monte Carlo Fashions Limited
B-XXIX-106, G.T. Road, Sherpur, Ludhiana-141003, Punjab Phone No. : Toll Free Help line : 1800-1800-501(9am to 7pm) E-mail: info@montecarlo.in Website: www.montecarlo.in |
Registrar of Monte Carlo Fashions Limited
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