Tender Offer | ₹36.99 Crores | Listed at BSE | Thu, Mar 4, 2021 - Thu, Mar 18, 2021
Indian Toners & Developers Ltd. Buyback is a tender offer for the repurchase of up to 0.23 crore equity shares at a buyback price of ₹160 per share with a face value of ₹10 per share, aggregating to ₹36.99 crores.
The record date for determining eligible shareholders is Jan 15, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Mar 4, 2021 and closes on Mar 18, 2021, with the last date for receipt of tender forms being Mar 22, 2021.
The finalisation of buyback acceptance is expected on Mar 24, 2021, followed by settlement of bids on Mar 25, 2021.
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, Mar 4, 2021
Offer Closing Date
Thu, Mar 18, 2021
Buyback Price
₹160 per share
Record Date
January 15, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 111 Equity Shares out of every 632 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 111 Equity Shares out of every 632 fully paid-up Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 980.64 | 1,219.71 | 1,192.35 |
| Profit After Tax | 121.94 | 204.15 | 242.23 |
| Net Worth | 1,844.21 | 1,798.63 | 1,644.31 |
Incorporated in 1990, Indian Toners & Developers Limited (ITDL) is India's largest manufacturer and exporter of compatible toners that are used 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.
ITDL has two production units - One at Rampur and the other at Sitarganj. The company has a manufacturing capacity to produce 3600 metric tons of toners per annum and a dedicated production line for R&D.
ITDL has a widespread distribution network with around 120 distributors spread across the country. The company exports toners to more than 20+ countries and has become one of the leading toner manufacturers and toner suppliers of South East Asia.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Dec-2020 | 131.00 | 117.55 | 124.65 |
| Nov-2020 | 137.50 | 107.25 | 124.69 |
| Oct-2020 | 117.45 | 87.05 | 103.04 |
The Buyback is undertaken by the Company to:
i) Distribute surplus cash to the Equity shareholders.
ii) Improve financial ratios like earnings per share and return on equity, by reducing the equity base of the company.
Indian Toners & Developers Ltd.
10.5 KM Mile Stone,
Rampur - Bareilly Road,
Rampur, Uttar Pradesh, 244901
Rampur, Himachal Pradesh, 244901
Lead Manager(s)
Registered Broker
The Indian Toners & Developers Buyback opens on March 4, 2021, and closes on March 18, 2021.
The Indian Toners & Developers Buyback last day to buy is not available as of now.
The Indian Toners & Developers Buyback is a Tender Offer.
Indian Toners & Developers Buyback Schedule
| Buyback Opening Date | March 4, 2021 |
| Buyback Closing Date | March 18, 2021 |
| Last Date for receipt of Tender Forms | March 22, 2021 |
| Finalisation of Buyback Acceptance | March 24, 2021 |
| Last Date for settlment of bids | March 25, 2021 |
| Last Date for Extinguishment of Shares | April 8, 2021 |
The Indian Toners & Developers Buyback is being offered at Rs ₹160 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 111 Equity Shares out of every 632 fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 111 Equity Shares out of every 632 fully paid-up Equity Shares held on the Record Date. |
The issue size of Indian Toners & Developers Buyback is 23,11,610 equity shares at ₹160 per share aggregating up to ₹36.99 Crores.
The Buyback is undertaken by the Company to:
i) Distribute surplus cash to the Equity shareholders.
ii) Improve financial ratios like earnings per share and return on equity, by reducing the equity base of the company.
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 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.
