Feb 24, 2021 - Mar 9, 2021

Neelamalai Agro Industries Limited Buyback (Neelamalai Agro Buyback) Detail

The Neelamalai Tea & Coffee Estates and Industries Limited, a part of the AVT group, was incorporated in 1943. Its name was changed to Neelamalai Agro Industries Limited in 1986. The company is mainly engaged in Tea plantation, cultivation, Tea manufacturing, sales, and export of Tea.

The company has two estates- Katary & Sutton Estates, located in the Nilgiris District in Tamil Nadu, spread across 635.56 Hectares. The factory follows good manufacturing practices and HACCP systems and produces Orthodox and CTC teas. However, currently, the factory manufactures only 100% Orthodox tea.

Neelamalai Agro Buyback Detail

Issue PeriodFeb 24, 2021 - Mar 9, 2021
Security NameNeelamalai Agro Industries Limited
Issue TypeTender Offer
Issue Size (Shares)0.00 Crores
Issue Size (Amount)₹4.06 Crores
Buyback Price₹1600 per share
Face Value₹10 per share
Listing AtBSE

Neelamalai Agro Buyback Issue Timetable

Offer Opens OnFeb 24, 2021
Offer Closes OnMar 9, 2021
Record DateFeb 5, 2021
Last Date for receipt of Tender FormsMar 9, 2021
Finalisation of Buyback AcceptanceMar 18, 2021
Last Date for settlment of bidsMar 19, 2021
Last Date for Extinguishment of SharesMar 26, 2021

Buyback Ratio

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 1 Equity Shares out of every 8 Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 1 Equity Shares out of every 8 Equity Shares held on the Record Date.

Company Financials

Summary of financial Information (Consolidated)
Particulars For the year/period ended (Rs in Million)
31-Mar-20 31-Mar-19 31-Mar-18
Total Income 265.30 379.17 308.64
Profit After Tax 171.40 138.92 120.55
Net Worth 1,677.41 1,560.31 1,434.92

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Dec-2020 1487.25 1349 1418.13
Nov-2020 1287.7 1009 1148.35
Sep-2020 993.15 945.9 969.53

Necessity of the Issue

The Buy-back is being undertaken by the Company to:
i) Improve key financial ratios;
ii) Return part of surplus cash, back to shareholders ;
iii) Improve earnings per share;
iv) Reduce outstanding shares; and
v) Enhance return on invested capital.

Neelamalai Agro Buyback Documents

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Company Contact Information

Neelamalai Agro Industries Limited
Katary Estate, Katary P.O.,
Coonoor, The Nilgiris, Nilgiri

Phone: +91 423-2284235

Neelamalai Agro Buyback Registrar

  1. Cameo Corporate Services Limited
       Cameo Corporate Services Ltd.,
       Subramanian Building # 1, Club House Road,
       Chennai 600 002 - India

    Phone: +91-44-28460390

Neelamalai Agro Buyback Manager

Lead Manager(s)

  1. Saffron Capital Advisors Private Limited

Registered Broker

  1. Choice Equity Broking Private Limited

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