Neelamalai Agro Industries Ltd Buyback 2021 - Buyback Price With Record Date and Other Details

Neelamalai Agro Industries Ltd will buyback nearly 25,350 shares for about Rs 4.05 Crores. In a filing to the stock exchanges, Neelamalai Agro Industries Ltd said it will buyback 4.04 percent of the fully paid-up equity shares at a price of Rs. 1500 per share.

The board of directors "approved the proposal to buyback of not exceeding 25,350 equity shares of face value of Rs 10 each of the company (representing 4.04 percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs 1500 per equity for an aggregate consideration not exceeding Rs 4.05 crore," it said.


    Neelamalai Agro Industries Ltd Ltd BuyBack 2021 Offer Deal:

    Buyback Type: Tender Offer
    Buyback Record Date: February 05 2021
    Buyback Offer Amount: ₹ 4.05 Crore
    Date of Board Meeting approving the proposal: Jan 21 2021
    Date of Public Announcement: Jan 23 2020
    Buyback Offer Size: 4.04%
    Buyback Number of shares: 25,350
    Price Type: Tender Offer
    FV: Rs. 10
    Buyback Price: ₹ 1500 Per Equity Share

    Neelamalai Agro Industries Ltd buyback of 25,350 equity shares which is around 4.04of all the existing number of equity shares at a price of ₹1500 per equity share. The buyback offer not exceeding of ₹ 4.05 crore of total buyback offer size.

    Note: If anything you want to know about the buyback offer you can refer the Neelamalai Agro Industries Ltd buyback offer documents. Click Here


    Neelamalai Agro Industries Ltd Buyback Important Dates

    Buyback ActivityDate
    Board Meeting for Neelamalai Agro Industries Ltd Buyback proposal12.11.2020
    Neelamalai Agro Industries Ltd Buyback Approval date21.01.2021
    Public Announcement of  Buyback23.01.2021
    Buyback Record Date05.02.2021
    Buyback opens on/Buyback Opening Date2021
    Buyback closes on/Buyback Closing Date2021
    Cut-off date to receive completed tender forms by Registrar02.2021
    Cut-off date for verification by the Registrar02.2021
    Cut-off date to inform Stock Exchange on acceptance or
    non-acceptance of tendered Equity Shares by Registrar
    Last date of settlement of bids on the stock exchange02.2021
    Last date to return unaccepted shares by Registrar02.2021
    Last date of extinguishment of Equity Shares02.2021

    Necessity of Buyback by Neelamalai Agro Industries Ltd 

    Buy-back is  the acquisition by a company of    its own shares. Buy-back is   an efficient form of    returning surplus cash to  the members holding equity shares of    the Company, inter-alia, for the following reasons: 

    i.    The Buy-back will help the Company to   return surplus cash to    its members holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to   members; 

    ii.    The Buy-back, which is   being implemented through the Tender Offer route as prescribed under the Buy-back Regulations, would  involve allocation  of  higher  of  number of  shares as  per their entitlement or  15% of the number of    shares to  be bought back,  reserved for the small shareholders. The Company  believes that this reservation of    15% for small shareholders would benefit a large number of    public shareholders, who would get classified as "small shareholder; 

    iii.    The Buy-back would help in   improving return on equity, by reduction in   the equity base, thereby leading to   long term increase in  shareholders' value; and 

    iv.    The  Buy-back  gives an  option to the  members  holding  equity shares  of the  Company, who can  choose to participate and get cash in  lieu of    Equity Shares to   be accepted under the Buy-back offer or    they may choose to not participate and enjoy a resultant increase in   their percentage shareholding, post the Buy-back offer, without additional investment. 

    About Neelamalai Agro Industries Ltd Company

    Neelamalai Agro Industries Ltd. was incorporated during the year 1946 with the main business being Tea, Trading and Exports. The main estates under the company are Katary Estate and Sutton Estate.

    How to Participate in buyback?

    1. Firstly, to be eligible for the buyback the investor should have shares of Neelamalai Agro Industries 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. 

    Neelamalai Agro Industries Ltd Buyback 2021 FAQs:

    When is Neelamalai Agro Industries Ltd Ltd Buyback Record Date?
    Neelamalai Agro Industries Ltd buyback 2021 record date is 05 February 2021

    When is Neelamalai Agro Industries Ltd Buyback announcement Date?
    Neelamalai Agro Industries Ltd buyback 2021 announcement date is 23 January 2021.

    What is Neelamalai Agro Industries Ltd Buyback Price?
    The company has fixed the price at ₹ 1500

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