Neelamalai Agro Industries Limited Buyback (Neelamalai Agro Buyback) Detail

Feb 24, 2021 - Mar 9, 2021

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 Market Data (for preceding 3 months)

BSE

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

NSE

Month High Price Low Price Average Price
Month High Price Low Price Average Price
Dec-2020
Nov-2020
Sep-2020

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
Email: narasimhan.l@avtplantations.co.in
Website: http://www.neelamalaiagro.com

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
    Email: investor@cameoindia.com
    Website: https://online.cameoindia.com/

Neelamalai Agro Buyback Manager

Lead Manager(s)

  1. Saffron Capital Advisors Private Limited

Registered Broker

  1. Choice Equity Broking Private Limited
    Email: jeetender.joshi@choiceindia.com

Find Neelamalai Agro Buyback Latest Update

Neelamalai Agro Buyback FAQs

  1. When is Neelamalai Agro Buyback offer coming?

    The Neelamalai Agro Buyback opens on Feb 24, 2021, and closes on Mar 9, 2021.

  2. Which type of buyback is Neelamalai Agro Buyback offer?

    The Neelamalai Agro Buyback is a Tender Offer.

  3. What is the schedule of activities for Neelamalai Agro Buyback?

    Neelamalai Agro Buyback Schedule

    Buyback Opening DateFeb 24, 2021
    Buyback Closing DateMar 9, 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
  4. What is the offer price for Neelamalai Agro Buyback offer?

    The Neelamalai Agro Buyback is being offered at Rs ₹1600 per share per equity share.

  5. In what ratio is the Neelamalai Agro Buyback offered?

    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.
  6. What is the record date for Neelamalai Agro Buyback offer?

    The record date for the Neelamalai Agro Buyback is Feb 5, 2021.

  7. What is the issue size of Neelamalai Agro Buyback?

    The issue size of Neelamalai Agro Buyback is of 0.00 Crores equity shares at ₹1600 per share aggregating upto ₹4.06 Crores.

  8. What is the necessity for Neelamalai Agro Buyback?

    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.


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