Neelamalai Agro Buyback

Neelamalai Agro Buyback Dates and Details

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Neelamalai Agro Buyback is opening for subscription on 24 February 2021. the company aims for an issue size of ₹4.06 Crores through this buyback Issue.

Neelamalai Agro Industries Limited

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.

Objectives of the Issue

  • Return part of surplus cash, back to shareholders.
  • Enhance return on invested capital.
  • Improve key financial ratios.
  • Improve earnings per share.
  • Reduce outstanding shares.

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
Finalization of Buyback AcceptanceMar 18, 2021
Last Date for settlement of bidsMar 19, 2021
Last Date for Extinguishment of SharesMar 26, 2021

Neelamalai Agro Buyback Detail

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

Buyback Ratio

CategoryEntitlement Ratio of Buyback
Reserved Category for Small Shareholders1 Equity Shares out of every 8 Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders1 Equity Shares out of every 8 Equity Shares held on the Record Date.

Neelamalai Agro Buyback Registrar

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

Phone: +91-44-28460390

Company Contact Information

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

Phone: +91 423-2284235

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

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