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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
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

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

The Neelamalai Agro Buyback is a Tender Offer.

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

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

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.

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

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

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.

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 Neelamalai Agro 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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