Tender Offer | ₹20.62 Crores | Listed at BSE | Thu, Sep 5, 2024 - Wed, Sep 11, 2024
Indian Toners & Developers Ltd. Buyback is a tender offer for the repurchase of up to 0.05 crore equity shares, representing 4.22% of the total paid-up equity share capital at a buyback price of ₹450 per share with a face value of ₹10 per share, aggregating to ₹20.62 crores.
The record date for determining eligible shareholders is Aug 30, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 5, 2024 and closes on Sep 11, 2024, with the last date for receipt of tender forms being Sep 11, 2024.
The finalisation of buyback acceptance is expected on Sep 18, 2024, followed by settlement of bids on Sep 19, 2024.
Corporate Professionals Capital Pvt.Ltd. is the Manager to the Buyback and Alankit Assignments Ltd. is the Registrar and SMC Global Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Indian Toners & Developers Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Sep 5, 2024
Offer Closing Date
Wed, Sep 11, 2024
Buyback Price
₹450 per share
Record Date
August 30, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 34 Equity Shares out of every 805 Fully paid-up Equity Shares held on the Record Date. | 81,515 |
| General Category for all other Eligible Shareholders | 34 Equity Shares out of every 805 Fully paid-up Equity Shares held on the Record Date. | 3,76,753 |
Indian Toners & Developers Ltd.'s revenue decreased by -90% and profit after tax (PAT) dropped by -90% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 2,112.04 | 1,918.49 | 1,825.52 | |||||||||||||||||||||||||||||||||||||
| Revenue | 162.98 | 1,590.14 | 1,233.9 | 1,825.52 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 26.14 | 263.14 | 189.43 | 135.5 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,774.09 | 1,548.35 | 1,694.23 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
incorporated in 1990, Indian Toners & Developers Limited manufactures and exports compatible toners for laser printers, copiers, and multifunction printers. The company operates on a business-to-business (B2B) model, supplying its products to original equipment manufacturers (OEMs), distributors, and large-scale enterprises worldwide.
ITDL manufactures toners for various printer types, including black-and-white and color toners. The company also creates custom toner formulas to meet specific client needs.
Indian Toners & Developers Ltd. operates two production units: Unit 1 in Rampur, U.P. and Unit 2 in Sitarganj, Uttarakhand.
Indian Toners & Developers Limited is certified as ISO 9001:2015 and ISO 14001:2015.
The company has a manufacturing capacity to produce 4800 metric tons of toners per year.
Indian Toners serves over 600 wholesalers, 1600 refillers, and 40000 jobbers across the country. The company is headquartered in New Delhi, and its sales team consists of approximately 60 individuals based in different parts of India to manage product sales.
The company has exported its products to more than 15 countries.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 327.00 | 280.30 | 306.61 |
| Jun-2024 | 325.00 | 255.60 | 294.91 |
| May-2024 | 289.50 | 261.45 | 275.26 |
The Buyback is being undertaken for the following reasons:
Indian Toners & Developers Ltd.
D-11, Phase-II, Eldeco
Sidcul Industrial Park
Sitarganj
Sitarganj, Uttarakhand
Lead Manager(s)
Registered Broker
The Indian Toners & Developers Buyback 2024 opens on September 5, 2024, and closes on September 11, 2024.
Last date to be eligible to participate in buyback is August 29, 2024.
The Indian Toners & Developers Buyback 2024 is a Tender Offer.
Indian Toners & Developers Buyback 2024 Schedule
| Buyback Opening Date | September 5, 2024 |
| Buyback Closing Date | September 11, 2024 |
| Last Date for receipt of Tender Forms | September 11, 2024 |
| Finalisation of Buyback Acceptance | September 18, 2024 |
| Last Date for settlment of bids | September 19, 2024 |
| Last Date for Extinguishment of Shares | September 30, 2024 |
The Indian Toners & Developers Buyback 2024 is being offered at Rs ₹450 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 34 Equity Shares out of every 805 Fully paid-up Equity Shares held on the Record Date. | 81,515 |
| General Category for all other Eligible Shareholders | 34 Equity Shares out of every 805 Fully paid-up Equity Shares held on the Record Date. | 3,76,753 |
The issue size of Indian Toners & Developers Buyback 2024 is 4,58,268 equity shares at ₹450 per share aggregating up to ₹20.62 Crores.
The Buyback is being undertaken for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Indian Toners & Developers Buyback 2024 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
