Cyient launches ₹720 crore buyback offer at ₹1,125 per share; tender window opens June 23

IT firm Cyient Ltd on Friday (June 19) said it has submitted its Letter of Offer for its proposed ₹720 crore share buyback, offering to repurchase up to 64 lakh fully paid-up equity shares at ₹1,125 per share through the tender offer route.

The buyback represents up to 5.76% of the company’s existing paid-up equity share capital on a standalone basis as of March 31, 2026. The offer is open to all eligible shareholders as on the record date of June 17, 2026, excluding promoters, promoter group members and persons in control.

The buyback offer size represents 20.31% of the company’s standalone paid-up share capital and free reserves and 14.09% on a consolidated basis as of March 31, 2026.

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The company said the offer remains within the statutory limit of 25% prescribed under SEBI’s buyback regulations. The buyback window will open on June 23, 2026, at 10:00 a.m. and close on June 30, 2026, at 5:00 p.m.

Under the entitlement ratio, small shareholders will be entitled to tender two equity shares for every 19 shares held on the record date, while all other eligible shareholders will be entitled to tender one equity share for every 14 shares held.

In a regulatory filing, Cyient said the Letter of Offer dated June 19, 2026, will be sent electronically to shareholders who have registered their email IDs with depositories or the company, while physical copies will be dispatched to shareholders without registered email addresses.

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The company said it had earlier approached the US Securities and Exchange Commission (SEC) for exemptive relief due to differences between Indian and US regulations governing tender offer buybacks. However, following an updated assessment as of May 22, 2026, shareholders in the United States were found to hold less than 10% of Cyient’s outstanding equity shares.

As a result, the buyback qualifies for the "Tier I" exemption under Rule 13e-4(h)(8) of the U.S. Securities Exchange Act of 1934, eliminating the need for exemptive or no-action relief from the SEC. The buyback will therefore proceed under Indian regulations and applicable exemptions available under U.S. securities laws.

Axis Capital is acting as the manager to the buyback, while KFin Technologies has been appointed registrar to the offer. Shares of Cyient Ltd ended at ₹858.05, down by ₹15.00, or 1.72%, on the BSE.

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