Industrial and Prudential Buyback will open for subscription from 04 February 2021. the company aims for an issue size of ₹8.34 Crores through this buyback.
Industrial and Prudential Investment Company Limited
Incorporated in 1913, Industrial and Prudential Investment Company Limited (IPICL) is an NBFC registered with the Reserve Bank of India and engaged in investment and trading of securities and mutual fund units, headquartered in Kolkata.
IPICL is a zero-debt company with an excellent equity investment portfolio. The portfolio is managed conservatively without large-scale churning. The portfolio consists of a 20% holding in KSB Pumps and in companies like Infosys, Siemens, TCS, Karur Vysya Bank, and others.
The Company is managed by the Swarup Family, who along with other promoter and promoter group companies holds 65.89% of the equity share capital of the Company. The Company operates out of the leased premises owned by the promoter group company and has required infrastructure including information technology hardware and software to run its Investment Business.
Objectives of the Issue
- Return surplus funds to the equity shareholders.
- Service the Equity more efficiently.
Industrial and Prudential Investment Buyback Issue Timetable
| Offer Opens On | Feb 4, 2021 |
| Offer Closes On | Feb 17, 2021 |
| Record Date | Jan 1, 2021 |
| Last Date for receipt of Tender Forms | Feb 22, 2021 |
| Finalization of Buyback Acceptance | Feb 26, 2021 |
| Last Date for settlement of bids | Mar 1, 2021 |
| Last Date for Extinguishment of Shares | Mar 8, 2021 |
Industrial and Prudential Investment Buyback Detail
| Security Name | Industrial and Prudential Investment Company Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 0.01 Crores |
| Issue Size (Amount) | ₹8.34 Crores |
| Buyback Price | ₹1200 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
Industrial and Prudential Buyback Registrar
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: ipicl.buyback@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
Industrial and Prudential Investment Company Limited
Paharpur House 8/1/B,
Diamond Harbour Road, Kolkata 700027
Phone: 033 40133000
Email: contact@industrialprudential.com
Website: https://www.industrialprudential.com/
Final Thoughts
A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors. subscribing for a buyback issue is purely a personal choice. make a detailed study before you make a decision on buyback issue subscription.
Happy Investing