Tender Offer | ₹50.00 Crores | Listed at BSE, NSE | Tue, Sep 17, 2024 - Tue, Sep 24, 2024
Insecticides (india) Ltd. Buyback is a tender offer for the repurchase of up to 0.05 crore equity shares, representing 1.69% of the total paid-up equity share capital at a buyback price of ₹1000 per share with a face value of ₹10 per share, aggregating to ₹50.00 crores.
The record date for determining eligible shareholders is Sep 11, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 17, 2024 and closes on Sep 24, 2024, with the last date for receipt of tender forms being Sep 24, 2024.
The finalisation of buyback acceptance is expected on Sep 27, 2024, followed by settlement of bids on Oct 1, 2024.
Sundae Capital Advisors Pvt.Ltd. is the Manager to the Buyback and Alankit Assignments Ltd. is the Registrar and OJ Financial Services Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Insecticides (india) Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Sep 17, 2024
Offer Closing Date
Tue, Sep 24, 2024
Buyback Price
₹1000 per share
Record Date
September 11, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 81 Fully paid-up Equity Shares held on the Record Date. | 75,000 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 338 Fully paid-up Equity Shares held on the Record Date. | 4,25,000 |
Insecticides (india) Ltd.'s revenue increased by 10% and profit after tax (PAT) rose by 63% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | ||||||||||||||||||
| Assets | 1,709.76 | 1,693.68 | ||||||||||||||||||
| Revenue | 1,975.89 | 1,802.59 | ||||||||||||||||||
| Profit After Tax | 102.63 | 62.99 | ||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||
Insecticides India Limited (IILTD) is engaged in the manufacturing and supply of crop protection and household pesticide formulations.
The product range includes more than 80 types of insecticides, fungicides, weed killers, herbicides, and plant growth regulators for all types of crops as well as household pesticides. The best-selling insecticide brands are Lethal, Victor, Thimet, Indan 4g, and Kaiser.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2024 | 1,084.65 | 742.60 | 924.36 |
| Jul-2024 | 828.90 | 672.85 | 756.72 |
| Jun-2024 | 737.00 | 475.50 | 672.02 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Aug-2024 | 1,084.25 | 737.95 | 928.69 |
| Jul-2024 | 832.60 | 673.05 | 753.30 |
| Jun-2024 | 737.85 | 476.00 | 659.46 |
The Buyback is being undertaken for the following reasons:
Insecticides (india) Ltd.
404-402, Lusa Tower,
Azadpur Commercial Complex,
Delhi - 110033
Delhi, New Delhi, 110033
Lead Manager(s)
Registered Broker
The Insecticides (India) Buyback 2024 opens on September 17, 2024, and closes on September 24, 2024.
Last date to be eligible to participate in buyback is September 10, 2024.
The Insecticides (India) Buyback 2024 is a Tender Offer.
Insecticides (India) Buyback 2024 Schedule
| Buyback Opening Date | September 17, 2024 |
| Buyback Closing Date | September 24, 2024 |
| Last Date for receipt of Tender Forms | September 24, 2024 |
| Finalisation of Buyback Acceptance | September 27, 2024 |
| Last Date for settlment of bids | October 1, 2024 |
| Last Date for Extinguishment of Shares | October 11, 2024 |
The Insecticides (India) Buyback 2024 is being offered at Rs ₹1000 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 81 Fully paid-up Equity Shares held on the Record Date. | 75,000 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 338 Fully paid-up Equity Shares held on the Record Date. | 4,25,000 |
The issue size of Insecticides (India) Buyback 2024 is 5,00,000 equity shares at ₹1000 per share aggregating up to ₹50.00 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 Insecticides (India) 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.
