Trading Members are hereby informed that Insecticides (India) Limited [Scrip Code: 532851] has announced buyback of its fully paid-up equity shares of face value of Rs. 10/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs. 575/- (Rupees Five hundred Seventy- Five only) per equity share payable in cash for an aggregate amount not exceeding Rs. 60 crores (Rupees Sixty crores only).
1. Proposed time table for buyback:
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Date of Opening of the Buyback on BOLT
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April 12, 2021
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Last Date for the Buyback
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Earlier of:
(a) October 11, 2021 (that is 6 months from the date of the opening of the Buyback); or
(b) when the Company completes the Buyback by deploying the amount equivalent to the Maximum Buyback Size; or
(c) at such earlier date as may be determined by the Board or its Committee of Directors, after giving notice of such earlier closure, subject to the Company having deployed an amount equivalent to the Minimum Buyback Size (even if the Maximum Buyback Size has not been reached or the Maximum Buyback Shares have not been bought back), provided, that all payment obligations relating to the Buyback shall be completed before the last date for the Buyback.
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2. Broker Members for buyback:
The company has appointed the following BSE Trading Members through whom the purchases and settlement on account of the buyback would be made:
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Name of the Member
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Clearing No
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JM Financial Services Limited
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325
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3. Details of Shares held in DEMAT Form.
The Trading Members may note that the Equity Shares held in DEMAT form can be offered for Buyback to the Company in rolling settlement, as per details mentioned below:
Scrip Code No. : 532851
Market Lot : 1 Share
Scrip ID on BOLT System : INSECTICID*
4. Circuit Filters, Margins, Capital Adequacy Norms, Auction, Close out, Bad Delivery, Arbitration, etc. are applicable in case of buyback as in the case of the normal trading.
5. Institutional Investors are allowed to participate in the buyback.
6. Please note that, settlement will be with normal equity cash segment trades and market type for delivery will be “Normal” equity cash segment
7. The documents are available in Department of Corporate Services for inspection. In case of any queries /clarifications on the scheme of buyback, Trading Members may please contact the under mentioned persons:
- Merchant Banker to the Buyback:
JM Financial Limited
7 th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi, Mumbai –400 025, Maharashtra, India
Tel: +91 22 6630 3030
Fax: +91 22 6630 3330
Contact Person: Prachee Dhuri
Email: iil.buyback@jmfl.com@jmfl.com
Website: www.jmfl.com
Name: Mr. Sandeep Kumar
Designation: Company Secretary and Chief Compliance Officer
Address: 401-402, Lusatower, Azadpur Commercial Complex, Delhi - 110033
Tel: +91-11-27679700-05
Email ID: investor@insecticidesindia.com
Website: www.insecticidesindia.com
· At the Exchange:
Clearing & Settlement Department -
Mr. Nilesh Shah/Ajay Darji - Extn: 022-22728468/5163/5628/8223/5784
Email Id: bse.csd@bseindia.com
Trading Department -
Trading Operations - Extn: 022-2272- 8376 (For Trading Related)
Help desk - Extn: 61363100 (Hunting) (For BOLT System)
Listing Operations Department –
Mr. Raghavendra Bhat/ Ms. Vidhi Mehta - Extn: 022-2272-8915/8995 (For General Queries)
Rupal Khandelwal
Senior Manager
April 9, 2021 |