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Industrial & Prudential Investment Co. Ltd. is a Mumbai based 90+ years old company which is dealing in investment and securities and registered as NBFC with RBI. The principal business of the company is dealing in investments and securities. The Board of Directors periodically reviews the investment portfolio of investors is by the and a cautious approach is a keynote of the policy to mitigate the risks.
The company has announced its share buyback for the year 2021. The size of the buyback is ₹ 8.34 Cr. The company has announced to repurchase 69,500 shares which are 24.99% of the total paid-up equity @ ₹ 1200 per share. The price of the buyback is a 16.6% premium to the previous closing day of the announcement date.
Below is the complete details about Industrial & Prudential Investment Co. Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 8.34 Cr |
| Buyback Number of Shares: | 69,500 |
| Buyback Price: | Rs 1,200 |
| Buyback Offer Size (In %): | 24.99% |
| Total Share Capital: | Rs 186.7 Cr |
| Face Value: | 10 Per Equity Share |
Can I Invest today to participate in Industrial & Prudential Investment Co. Ltd buyback offer? No
In this section we have covered all important dates related to Industrial & Prudential Investment Co. Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 12th Nov 2020 |
| Buyback Approval date | 12th Nov 2020 |
| Public Announcement of Buyback | 22nd Dec 2020 |
| Record Date | 1st Jan 2021 |
| Buyback opens on/Buyback Opening Date | 4th Feb 2021 |
| Buyback closes on/Buyback Closing Date | 17th Feb 2021 |
| Cut-off date to receive completed tender forms by Registrar | 22nd Feb 2021 |
| Cut-off date for verification by the Registrar | 26th Feb 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
26th Feb 2021 |
| Last date of settlement of bids on the stock exchange | 1st Mar 2021 |
| Last date to return unaccepted shares by Registrar | 1st Mar 2021 |
| Last date of extinguishment of Equity Shares | 8th Mar 2021 |
Stock Holding table gives a clear picture on retail investor holdings of Industrial & Prudential Investment Co. Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.00% |
| Promoter-Indian | 65.89% |
| Non-Promoter-Institutions | 0.08% |
| Non-Promoter-Non-Institutions | 34.03% |
Industrial & Prudential Investment Co. Ltd Public Announcement >>Document
Industrial & Prudential Investment Co. Ltd Draft Letter of Offer >>Document
Industrial & Prudential Investment Co. Ltd Letter of Offer >>Document
Industrial & Prudential Investment Co. Ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 13 Equity Share out of every 86 fully paid-up Equity Share held on the Record Date. | 15.11 |
| General Category | 3 Equity Share out of every 85 fully paid-up Equity Share held on the Record Date | 3.52% |
For Industrial & Prudential Investment Co. Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 171.76%, No. of Equity Shares reserved in Buyback was 59,075 where valid bid received for retail category was 1,01,468 which is 171.76% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 129.58%, No. of Equity Shares reserved in Buyback was 10,425 where valid bid received for retail category was 13,509 which is 129.58%. Final Acceptance Ratio for Retail Investors was 20%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 966.40 (-1.91%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 180.00 (6.48%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 299.20 (1.00%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 460.95 (-0.25%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Industrial & Prudential Investment Co. Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Industrial & Prudential Investment Co. Ltd? How can I apply in Industrial & Prudential Investment Co. Ltd Buyback offer?Last Updated on 2021-04-27T01:08:40+00:00
