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Incorporated in 1913, Industrial and Prudential Investment Company Limited (IPICL) is an NBFC registered with the Reserve Bank of India and engaged in investment and trading of securities and mutual fund units, headquartered in Kolkata.
IPICL is a zero-debt company with an excellent equity investment portfolio. The portfolio is managed conservatively without large scale churning. The portfolio consists of a 20% holding in KSB Pumps and in companies like Infosys, Siemens, TCS, Karur Vysya Bank, and others.
The Company is managed by Swarup Family, who along with other promoter and promoter group companies holds 65.89% of the equity share capital of the Company. The Company operates out of the leased premises owned by the promoter group company and has required infrastructure including information technology hardware and software to run its Investment Business.
| Issue Period | Feb 4, 2021 - Feb 17, 2021 |
| Security Name | Industrial and Prudential Investment Company Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 69,500.00 |
| Issue Size (Amount) | ₹8.34 Crores |
| Buyback Price | ₹1200 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Record Date | Jan 1, 2021 |
| Offer Opens On | Feb 4, 2021 |
| Last Date for receipt of Tender Forms | Feb 22, 2021 |
| Offer Closes On | Feb 17, 2021 |
| Finalisation of Buyback Acceptance | Feb 26, 2021 |
| Last Date for settlment of bids | Mar 1, 2021 |
| Last Date for Extinguishment of Shares | Mar 8, 2021 |
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 86 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 85 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 | 121.62 | 97.70 | 92.05 |
| Profit After Tax | 86.78 | 86.25 | 82.38 |
| Net Worth | 522.95 | 463.29 | 384.75 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2020 | 1,042.00 | 813.20 | 963.79 |
| Oct-2020 | 900.00 | 811.00 | 844.77 |
| Sep-2020 | 911.00 | 802.35 | 876.29 |
The Buyback is undertaken by the Company after taking into account it's strategic and operational
cash needs to:
i) Return surplus funds to the equity shareholders.
ii) Service the Equity more efficiently.
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Industrial and Prudential Investment Company Limited
Paharpur House 8/1/B,
Diamond Harbour Road,Kolkata 700027
Phone: 033 40133000
Email: contact@industrialprudential.com
Website: https://www.industrialprudential.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: ipicl.buyback@linkintime.co.in
Website: https://linkintime.co.in/
Lead Manager(s)
Registered Broker
The Industrial and Prudential Investment Buyback opens on Feb 4, 2021, and closes on Feb 17, 2021.
The Industrial and Prudential Investment Buyback last day to buy is not available as of now.
The Industrial and Prudential Investment Buyback is a Tender Offer.
Industrial and Prudential Investment Buyback Schedule
| Buyback Opening Date | Feb 4, 2021 |
| Buyback Closing Date | Feb 17, 2021 |
| Last Date for receipt of Tender Forms | Feb 22, 2021 |
| Finalisation of Buyback Acceptance | Feb 26, 2021 |
| Last Date for settlment of bids | Mar 1, 2021 |
| Last Date for Extinguishment of Shares | Mar 8, 2021 |
The Industrial and Prudential Investment Buyback is being offered at Rs ₹1200 per share per equity share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 13 Equity Shares out of every 86 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 85 Equity Shares held on the Record Date. |
The record date for the Industrial and Prudential Investment Buyback is Jan 1, 2021.
The issue size of Industrial and Prudential Investment Buyback is of 69,500.00 equity shares at ₹1200 per share aggregating upto ₹8.34 Crores.
The Buyback is undertaken by the Company after taking into account it's strategic and operational
cash needs to:
i) Return surplus funds to the equity shareholders.
ii) Service the Equity more efficiently.
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 Industrial and Prudential Investment 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.
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