Indian Toners & Developers Limited Buyback - Buyback Price With Record Date and Other Details

Indian Toners & Developers Limited approved buyback of shares in its Board meeting held on November 05, 2020 has approved a proposal to buyback up to 23,11,610 (Twenty Three Lakhs Eleven Thousand Six Hundred Ten Only) fully paid up Equity Shares of Rs. 10/- (Rupees Ten only) of the Company for an aggregate amount not exceeding Rs. 36,98,57,600/- (Rupees Thirty Six Crores Ninety Eight Lakhs Fifty Seven Thousands Six Hundred Only ) at a price of Rs.160/-. Industrial And Prudential Investment Buyback corresponds to 17.56% of the total paid-up equity share capital of the company and is on a proportionate basis through the tender route.

Indian Toners & Developers Limited proposed to buy-back upto 23,11,610 Equity Shares Rs. 10/- each, comprising of 17.56 % of the total paid-up equity capital of the Company, from the equity shareholders of the Company as on the record date, at a price of Rs. 160 /- (Rupees One Hundred & Sixty only) per Equity Share ("Buyback Offer Price"), for an aggregate amount not exceeding Rs. 36,98,57,600/- (Thirty-Six Crores Ninety Eighty Lakhs Fifty Seven Thousands Six Hundred) (hereinafter referred to as the "Buyback ("Offer Size"), (being less than 25% of the total paid-up equity capital and free reserves of the Company based on both audited standalone financial statements and audited consolidated financial statements of the Company as on March 31, 2020).

The Board noted the intention of the Promoters and Promoters Group of the Company, to participate in the proposed Buyback.


    Indian Toners & Developers Limited Buyback 2020 Offer Details:

    Buyback Type: Tender Offer
    Buyback Record Date: January 15 2021
    Buyback Offer Amount: ₹ 36.98 Crores
    Date of Board Meeting approving the proposal: Nov 05 2020
    Date of Public Announcement: Dec 31 2020
    Buyback Offer Size: 17.56%
    Buyback Number of shares: 23,11,610
    Price Type: Tender Offer
    FV: Rs. 10
    Buyback Price: ₹ 160 Per Equity Share

    Indian Toners & Developers Limited buyback of 23,11,610 crore equity shares which is around 17.56of all the existing number of equity shares at a price of ₹160 per equity share. The buyback offer not exceeding of ₹ 36.98 crore of total buyback offer size.

    Indian Toners & Developers Limited Buyback Important Dates

    Buyback Activity Date
    Board Meeting for Buyback proposal 05.11.2020
    Buyback Approval date 31.12.2020
    Public Announcement of Buyback 31.12.2020
    Buy back Record Date 15.01.2021
    Buyback opens on/Buyback Opening Date Update Soon
    Buyback closes on/Buyback Closing Date Update Soon
    Cut-off date to receive completed tender forms by Registrar
    Update Soon
    Cut-off date for verification by the Registrar Update Soon
    Cut-off date to inform Stock Exchange on acceptance or
    non-acceptance of tendered Equity Shares by Registrar
    Update Soon
    Last date of settlement of bids on the stock exchange Update Soon
    Last date to return unaccepted shares by Registrar Update Soon
    Last date of extinguishment of Equity Shares Update Soon

    Note: If anything you want to know about the buyback offer you can refer the Indian Toners & Developers Limited offer documents. Click Here


    How to Participate in Indian Toners & Developers Limited buyback?

    1. Firstly, to be eligible for the buyback the investor should have shares of Indian Toners & Developers Limited 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: Indian Toners & Developers Limited


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    About Indian Toners & Developers Limited :

    Indian Toners & Developers Ltd. has two production units now known by the name of unit 1 and unit 2 (ITDL Imagetec Limited has now been amalgamated with ITDL. After the amalgamation, both the companies are henceforth known by a single combined entity namely INDIAN TONERS & DEVELOPERS LTD.(ITDL). Unit 1 is located at Rampur, U.P. Unit 2 is located at Sitarganj, Uttarakhand. Indian Toners & Developers Ltd. is India’s largest manufacturer and exporter of compatible toners for use in laser printers, the new age digital machines, multi-function printers, analogue copiers as well as wide format printers and copiers. Indian Toners & Developers Ltd. also offers premium quality colour toners for use in laser printers.

    Indian Toners & Developers Ltd. is an entrepreneurial venture, which was founded by its Chairman & Managing Director, Mr. Sushil Jain, a technocrat with an innovative vision. Quality consciousness, dedication to technological progress and determination for satisfaction of its customers, shareholders and employees underline the values set forth by its founder.

    Employing highly automated and integrated German Plants, Indian Toners & Developers Ltd. has a manufacturing capacity to produce 3600 metric tons of toners per annum. The facility at Rampur has a manufacturing capacity of 1200 metric tons of toner per annum, while the facility at Sitargunj also has a manufacturing capacity of 2400 metric tons of toner per annum, with a total of 7 Production lines: 6 production lines each, with 600 tons manufacturing capacity. 1 exclusive production line for R&D.

    Being the First Company of its kind, Indian Toners & Developers thus came onto the Indian business scenario as a pioneer in this highly technical field and since then has established itself firmly as the largest toner manufacturer and toner supplier in the domestic market with the single largest market share. ITDL has a widespread distribution network with around 120 distributors present in every nook and corner of the country.ITDL caters to around 600 dealers,1500 refillers and 44000 jobbers present in all parts of the country. The Head Office of Indian Toners is based in New Delhi, and the sales team of the company comprises of around 100 people stationed in various parts of India to look after the sales of the company's products. The regional offices of the company are located in the 4 Metropolitan cities of India: Delhi, Mumbai, Chennai and Kolkata.

    Indian Toners exports Toners to more than 20+ countries and over the years, has become one of the leading toner manufacturers and toner suppliers of South East Asia. The Government of India has been awarding Indian Toners for its "Excellence in Export Performance" consecutively since the past several years. Indian Toners & Developers Ltd. has also established a wholly owned subsidiary in the United States of America called Indian Toners U.S.A. Company, in the state of Florida in June 2016 as well.

    NECESSITY OF BUYBACK By Indian Toners & Developers Limited

    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

    1223, DLF Tower 'B'
    New Delhi - 110 025, India

    Phone: +91-11-45017000 (30 Lines)
    Fax: +91-11-45017043

    Registrar Contact Information

    Link Intime India Private Limited

    C-101, 1st Floor, 247 Park,
    Lal Bhadur Shastri Marg, Vikhroli (West), Mumbai 400 083
    Tel:+91 022 49186200
    Contact Person: Mr. Sumeet Deshpande

    Indian Toners & Developers Limited Buyback 2020 FAQs:

    When is Indian Toners & Developers Limited Buyback Record Date?
    Indian Toners & Developers Limited buyback 2020 record date is 15 January 2021

    When is Indian Toners & Developers Limited Buyback announcement Date?
    Indian Toners & Developers Limited buyback 2020 announcement Date is 31 December 2020.

    What is Indian Toners & Developers Limited Buyback Price?
    The company has fixed the price at ₹160

    How to apply for Indian Toners & Developers Limited Buyback 2020?
    As per the record date you need to have Industrial And Prudential Investment Company shares in your demat account. You can participate in buyback after having the stock in your account.