Open Market Through Stock Exchange | ₹29.70 Crores | Listing at BSE, NSE | Thu, Nov 3, 2022 - Wed, May 3, 2023
International Conveyors Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹75 per share with a face value of ₹1 per share, aggregating to ₹29.70 crores.
The buyback opens on Nov 3, 2022 and closes on May 3, 2023.
Keynote Financial Services Ltd. is the Manager to the Buyback and Maheshwari Datamatics Pvt.Ltd. is the Registrar to the Buyback.
Investors are advised to refer to the International Conveyors Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Nov 3, 2022
Offer Closing Date
Wed, May 3, 2023
Buyback Price
₹75 per share
Record Date
[.]
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-21 | 227.92 | 178.24 | 16.62 | 45.51 |
| 31-Mar-22 | 305.13 | 218.71 | 16.18 | 19.31 |
| Amount in ₹ Crore | ||||
Incorporated in 1978, International Conveyors Limited is engaged in the manufacturing and marketing of solid woven fabric reinforced PVC impregnated and PVC covered fire retardant, anti static conveyor belting. ICL is the second largest manufacturer of PVC solid woven belting in the World and exports over 90% by value of its production.
The company has experience in research and development and manufacture and marketing of conveyor belting for underground mining operations, ICL has emerged as a global leader in Conveyor Belting Products and Services.
The company manufactures the most extensive range of products comprising Type-3 to Type-6 that are the most suitable for meeting Indian requirements and Type-3 to Type-12 that are popular in markets abroad.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Sep-2022 | 65.50 | 54.95 | 60.19 |
| Aug-2022 | 61.70 | 57.15 | 58.68 |
| Jul-2022 | 61.20 | 56.20 | 58.20 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Sep-2022 | 65.60 | 55.35 | 60.22 |
| Aug-2022 | 61.70 | 57.30 | 58.72 |
| Jul-2022 | 61.50 | 56.25 | 58.22 |
The Buyback is being undertaken for the following reasons:
The Board of Directors of the Company is of the view that the Buyback will help the Company effectively utilize its available surplus funds, which is in excess of the amount needed to be retained by the Company for the future growth.
International Conveyors Ltd.
10, Middleton Row,
Kolkata,
700071
Kolkata, West Bengal
Lead Manager(s)
Registered Broker
The International Conveyors Buyback opens on November 3, 2022, and closes on May 3, 2023.
The International Conveyors Buyback is a Open Market Through Stock Exchange.
International Conveyors Buyback Schedule
| Buyback Opening Date | November 3, 2022 |
| Buyback Closing Date | May 3, 2023 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The International Conveyors Buyback is being offered at Rs ₹75 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The International Conveyors Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹29.70 Crores with pricing of Rs. ₹75 per share.
The Buyback is being undertaken for the following reasons:
The Board of Directors of the Company is of the view that the Buyback will help the Company effectively utilize its available surplus funds, which is in excess of the amount needed to be retained by the Company for the future growth.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The International Conveyors 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.
