IIFL Securities LTD Buyback 2020 - IIFL Open Market Buyback Offer with Price and Other Details

IIFL Securities LTD approved in its Board meeting held on November 20, 2020 has approved a proposal to buyback up to 1,66,66,666 (Sixty Nine Thousand Five Hundred) fully paid up Equity Shares of Rs.2 /- (Rupees Two only) of the Company for an aggregate amount not exceeding Rs.90 Crores (Rupees Nighty Crores only) at a Maximum Price of Rs.54/-. Industrial And Prudential Investment Buyback corresponds to 5.21% of the total paid-up equity share capital of the company and is on a proportionate basis through the tender route.

    iifl securities buyback

    IIFL Securities LTD Buyback 2020 Offer Details:

    Buyback Type: Open Market Offer
    Buyback Record Date: NA
    Buyback Offer Amount: ₹ 90 Crore
    Date of Board Meeting approving the proposal: Nov 20 2020
    Date of Public Announcement: Dec 24 2020
    Buyback Offer Size: 5.21%
    Buyback Number of shares: 1,66,66,666
    Price Type: Open Market
    FV: Rs. 2
    Maximum Buyback Price: ₹ 54 Per Equity Share

    IIFL Securities LTD buyback of 1,66,66,666 crore equity shares which is around 5.21% of all the existing number of equity shares at a price of ₹54 per equity share. The buyback offer not exceeding of ₹90 crore of total buyback offer size.

    IIFL Securities LTD Buyback Important Dates

    Buyback Activity Date
    Board Meeting for Buyback proposal 20.11.2020
    Buyback Approval date 22.12.2020
    Public Announcement of Buyback 24.12.2020
    Buy back Record Date N/A
    Buyback opens on/Buyback Opening Date 30.12.2020
    Acceptance Of Demat SharesUpon the Relevant Pay-Out of the Stock Exchange
    Verification/Acceptance of Physical Shares
    Within 15 Days of Pay-Out of the Stock Exchange
    Extinguishment Of Demat SharesIn case the Demat Shares are bought back, the will be extinguished in the manner specified in the SEBI REgulations, 2018, as amended and the bye-laws framed there under.
    Extinguishment Of Demat Shares In case the Physical Shares are bought back, the share certificates will be extinguished within 15 days of succeeding month in which such Equity Shares are bought back, provided that the company shall ansure that all Equity Shares bought back are extinguished within seven days from the last date of completion of buyback.
    Last date of completion of Buyback  29.06.2021
    When the company completes the buyback by deploying the amount equivalent to the maximum buyback size.

    Note: If anything you want to know about the buyback offer you can refer the IIFL Securities LTD buyback offer documents. Click Here


    How to Participate in IIFL Securities LTD buyback?

    1. Firstly, to be eligible for the buyback the investor should have shares of IIFL Securities LTD in demat or physical form as on record date (not announced)

    2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.

    3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.

    Checkout Current Industrial And Prudential Investment Company Shares market price on NSE and BSE: IIFL Securities LTD


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    About IIFL Securities LTD :

    IIFL Securities Ltd. was incorporated in the year 1996. IIFL was founded on Oct 17, 1995 by Nirmal Jain, a 1986 graduate from University of Mumbai and an alumnus of Indian Institute of Management, Ahmedabad. Jain is among the few successful entrepreneurs post the economic liberalization era in India ushered by PV Narasimha Rao. Jain was previously employed with Hindustan Lever Limited. The company was founded as Probity Research and Services Private Limited which provided research on the Indian economy, businesses and corporates. The name was later changed to India Infoline Limited.

    A few years into the business, the organization found itself with clients which included research organizations, banks and corporates. They then began launching their research products to become more noticeable in the market. In the meanwhile, the dotcom revolution was beginning to take place in India. The website was created in 1999.

    Taking the business one step ahead this group of consultants opened a trading portal – 5paisa –in 2000 thus moved into the business of being a full service broking agency. During this time they widened their distribution network.

    In 2001, the Indian dotcom industry saw a downfall. During this time, sustaining became tough. The organization then decided to tie-up with leading Life Insurance company ICICI Prudential, thus putting to use its distribution network and becoming India's first corporate agent for insurance.

    Today, IIFL Holdings Limited (Bloomberg Code: IIFL IN, NSE: IIFL, BSE: 532636) is India’s leading integrated financial services group with diverse operating businesses, mainly Non Banking and Housing Finance, Wealth and Asset Management, Broking, Financial Product Distribution, Investment Banking, Institutional Equities, Realty and Property Advisory Services.


    2.1   The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things

    :a)   The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term

    b)   The Buyback may help in improving earnings per share, return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value;

    c)   The Buyback gives an option to the equity shareholders, who can either 
    (i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or 
    (ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;

    d)   The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.

    Company Contact Information

    IIFL House
    Sun Infotech Park,
    Road No. 16V,
    Plot No.B-23
    Thane Industrial Area,
    Wagle Estate, Thane - 400604


    IIFL Securities LTD Buyback 2020 FAQs:

    When is IIFL Securities LTD Buyback Opening Date?
    IIFL Securities LTD buyback 2020 buyback date is 30 December 2020.

    When is IIFL Securities LTD Buyback announcement Date?
    Industrial And Prudential Investment Company buyback 2020 announcement Date is 24 December 2020.

    What is IIFL Securities LTD Buyback Price?
    The company has fixed the maximum price of ₹54

    How to apply for IIFL Securities LTD Buyback 2020?
    As per the record date you need to have IIFL Securities LTD shares in your demat account. You can participate in buyback after having the stock in your account.