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 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 8.20% of 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 Activity | Date |
|---|---|
| Board Meeting for Insecticides (India) Limited Buyback proposal | 02.03.2021 |
| Insecticides (India) Limited Buyback Approval date | 30.03.2021 |
| Public Announcement of Buyback | 30.03.2021 |
| Buyback Start Date ( Commencement Date ) | 12-04-2021 |
| Last date for the completion of the Buy-back | 11-10-2021 |
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?
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.
 Limited Buyback Price With Record Date and Other Details){kind=link}