Insecticides (India) Limited Buyback Price With Record Date and Other Details

Insecticides (India) Limited will buyback nearly 10,43,478 crore shares for about Rs.60/- crore (Rupees Sixty crore only)/-. In a filing to the stock exchanges, Insecticides (India) Limited said it will buyback 8.20% percent of the fully paid-up equity shares at a price of Rs.575/- per share.

The board of directors of Insecticides (India) Limited approved the proposal to buyback of not exceeding 10,43,478 crore equity shares of face value of Rs 10 each of the company (representing 8.20% 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 575 per equity for an aggregate consideration not exceeding Rs 60 crore," it said.

    Insecticides (India) Limited buyback

    Insecticides (India) Limited BuyBack 2021 Offer Deal:

    Buyback Type:Open Market Offer
    Buyback Record Date: N/A
    Buyback Offer Amount: ₹ 60 Crore
    Date of Board Meeting approving the proposal: Mar 30 2021
    Date of Public Announcement: Mar 30 2021
    Buyback Offer Size: 8.20%
    Buyback Number of shares: 10,43,478
    Price Type: Open Market 
    FV: Rs. 10
    Buyback Price: ₹ 575 Per Equity Share

    Insecticides (India) Limited buyback of 10,43,478 equity shares which is around 8.20of all the existing number of equity shares at a price of ₹575 per equity share. The buyback offer not exceeding of ₹ 60 crore of total buyback offer size.

    Note: If anything you want to know about the buyback offer you can refer the Insecticides (India) Limited offer documents. Click Here


    Insecticides (India) Limited Buyback Important Dates

    Buyback ActivityDate
    Board Meeting for Insecticides (India) Limited Buyback proposal02.03.2021
    Insecticides (India) Limited Buyback Approval date30.03.2021
    Public Announcement of  Buyback30.03.2021
    Buyback Start Date ( Commencement Date )12-04-2021
    Last date for the completion of the Buy-back11-10-2021

    Insecticides (India) Buyback Eligible Share Holders:

    The investors are eligible of the buyback scheme who have Insecticides (India) shares in their Demat account as record date is not announced as the offer is open market. Investors can participate in the Insecticides (India) Buyback 2021 scheme as per the opening form by selling your shares. The payment will be given as per the accepted shares by the company under the Insecticides (India) buyback scheme.

    Necessity of Buyback by Insecticides (India) Limited

    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 Insecticides (India) Limited

    Insecticides (India) Ltd. is committed to fortify Agriculture with a highly productive and progressive vision and mission to make Farmers prosperous. Having made a modest foray into agriculture space in 2001, today Insecticides (India) is one of the premier names in Crop Protection Industry. Today with more than 100 formulation products and 15 technical products, Insecticides (India) manufactures all types of insecticides, weedicides, fungicides and PGRs for all types of crops and household.

    How to Participate in buyback?

    1. The Buy-back is open to all shareholders | beneficial owners holding the Equity Shares in de-materialized form (“Demat Shares”). Shareholders holding Equity Shares in physical form can participate in the Buy-back after such Equity Shares are de-materialized by approaching depository participant. However, in accordance with Regulation 16
    (ii) of the Buy-back Regulations, the Buy-back will not be made from the Promoters and Promoter Group of the Company.

    2. Further, as required under the Act and the Buy-back Regulations, the Company will not buy back any Equity Shares which are locked-in or non-transferable, until the pendency of such lock-in, or until the time such Equity Shares become freely transferable, as applicable.

    3. The Buy-back will be implemented by the Company in accordance with Regulation 4(iv)(b)(ii) read with Regulation 16 of the Buy-back Regulations from the open market through the Stock Exchanges having nationwide terminal, using the order matching mechanism except “all or none” order matching system as provided under the Buy-back Regulations.

    4. For implementation of the Buy-back, the Company has appointed Edelweiss Broking Limited as the registered broker to the Company (the “Company’s Broker”) through whom the purchases and settlements on account of the Buy-back will be made by the Company. The contact details of the Company’s Broker are as follows:

    Registrar Of Insecticides (India) Limited Buyback

    Alankit House, 4E/2, Jhandewalan Extension,
    New Delhi, 110055Tel: 011-42541955
    Contact Person: Abhinav Kumar Agrawal
    SEBI Reg. No. INR000002532

    Insecticides (India) Limited Buyback 2021 FAQs:

    When is Insecticides (India) Limited Buyback Start Date?
    Insecticides (India) Limited buyback 2021 start date is 12 April 2021

    When is Insecticides (India) Limited Buyback announcement Date?
    Insecticides (India) Limited buyback 2021 announcement date is 30 Mar 2021.

    What is Insecticides (India) Limited Buyback Price?
    The company has fixed the price at ₹ 575

    What is Insecticides (India) Limited Buyback Last Date?
    Insecticides (India) Limited buyback Last Date is 11 Oct 2021.