In this article, We will discuss Indian Toners & Developers Limited Buyback offer, buyback price, buyback size, Indian Toners & Developers Buyback record date, company financial, buyback necessity, and Indian Toners Buyback impact on the company.

To track the real-time share price of this Buyback, click on this link – https://top10stockbroker.com/share-price/indian-toners-share-price/

Indian Toners & Developers Limited Buyback Details

Buyback TypeTender Offer
Opening DateMARCH 04, 2021
Closing DateMARCH 18, 2021
Buyback Offer AmountRs.36,98,57,600/-
Buyback No. of Shares23,11,610
Face ValueRs.10
Date of Buyback ApprovalNovember 5, 2020
Date of Public AnnouncementJanuary 2, 2021
Buy Back PriceRs.160/-
Buy Back Premium52%
Date of Board MeetingNovember 5, 2020

Indian Toners Buyback Opening and Closing Date

The starting and closing date of this buyback is from MARCH 04, 2021 to MARCH 18, 2021.

Indian Toners Buyback Cash Offer

Cash Offer to Buy-back up to 23,11,610 fully paid-up equity shares of the Company of face value of Rs.10 each, representing 17.56% of the issued, subscribed and paid-up Equity Shares of the Company.

Indian Toners Buyback Record Date

The decided record date is FRIDAY, JANUARY 15, 2021.

Indian Toners & Developers Buyback Price

At a price of Rs.160/- per Equity Share.

Indian Toners & Developers Buyback Size

At a buyback price of Rs.160/- payable in cash for an aggregate maximum amount of Rs.36,98,57,600/-.

Indian Toners & Developers Limited Buyback Acceptance Query

You can check for Buyback Acceptance query here. Just click on the given link and it will redirect you to buyback acceptance query page.


Indian Toners & Developers Limited Buyback Acceptance Ratio

Find profit & profit percentage based on various acceptance rate, The profit is calculated based on 1000 shares.

Acceptance RatioTotal Shares AcceptedBuyback PriceBuyback AmountProfitProfit%
20%2001603200067605.36%
40%400160640001352010.71%
60%600160960002028016.07%
80%8001601280002704021.43%
100%10001601600003380026.78%

Profit is calculated from Feb 23, 2021 share price i.e. Rs.126.20 per share of Indian Toners & Developers Limited.

According to the above table, if a shareowner applies for 1000 shares of Indian Toners & Developers limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.160/- per share & receive Rs.6760 as profit amount & 5.36% profit percentage on selling these 200 shares back to the company.

Similarly, if the owner gets 60% acceptance of share from the company, the owner will sell 600 shares @ Rs.160/- & receive a profit of Rs.20280 @ 16.07% profit percentage.


Indian Toners & Developers Buyback Overview

Indian Toners & Developers BuybackCompany has two production units. Unit 1 is located at Rampur, U.P. Unit 2 is located at Sitarganj, Uttarakhand. This Company is manufacturer and exporter of compatible toners for use in laser printers and the new age digital machines, multi-function printers, analogue copiers as well as wide format printers and copiers.

This Company has a manufacturing capacity to produce 3600 metric tons of toners per annum. The facility at Rampur has a manufacturing capacity of 1200 metric tons of toner per annum. Also, the facility at Sitargunj also has a manufacturing capacity of 2400 metric tons of toner per annum, with a total of 7 Production lines: 6 production lines each, with 600 tons manufacturing capacity. 1 exclusive production line for R&D.


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Indian Toners & Developers Buyback – Company Finances

The brief audited consolidated financial information of the Company for the last 3 financial years are:

[In Rs. Lakhs]

ParticularsSep 30, 2020 (Unaudited)12 Months period ended March 31
(Audited)
2020202020192018
Total Income3,867.149,806.3512,197.1211,923.51
Total Expenses (excluding finance costs, depreciation & amortization, tax and exceptional items)2,944.257,854.659,240.18,513.05
Interest10.7451.3663.156.79
Depreciation216.46432.91377.09367.57
Profit before tax695.691,467.432,516.832,986.1
Provision for tax
(including Deferred Tax)
121.29247.98475.33563.75
Profit /(Loss) after tax574.41,219.452,041.52,041.5
Equity Share Capital1,316.161,316.16*1,316.161,316.16
Reserve and Surplus17,692.4417,126.0116,670.1515,126.94
Networth19,008.618,442.1717,986.3116,443.1
Total Debt

Indian Toners & Developers Limited Buyback Dates

Date of Board Meeting approving the BuybackNovember 5, 2020
Date of publication of Public Announcement for BuybackJanuary 2, 2021
Record Date for determining the Buyback Entitlement and the names of Eligible ShareholdersJanuary 15, 2021
Buyback Opening dateMarch 04, 2021
Buyback Closing dateMarch 18, 2021
Last Date of verification of Tender Forms by the RegistrarMarch 24, 2021
Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the RegistrarMarch 24, 2021
*Last date of Settlement of Bids on the BSE LimitedMarch 25, 2021
Last date of return of unaccepted Equity Shares by BSE LimitedMarch 25, 2021
*Last date of Extinguishment of Equity SharesApril 08, 2021

Details of Public Announcement

This is to say, in accordance with Regulation 7(i) of the Buyback Regulations, the Public Announcement was published on January 2, 2021 in the following newspapers:

PublicationLanguageEdition
Business StandardEnglishAll Editions
Business StandardHindiAll Editions

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Necessity of Indian Toners & Developers Buyback

The Buyback is being undertaken by the Company to return surplus funds to the Equity Shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans, in an expedient, effective and cost-efficient manner. The Buyback is being undertaken for the following reasons:

  • This Buyback will help the Company distribute surplus cash to the Equity Shareholders broadly in proportion to their shareholding, thereby, enhancing the overall return to Equity Shareholders;
  • The Buyback, which is being implemented through the Tender Offer route as prescribed under the Buyback Regulations, involves a reservation of up to 15% of the Buyback Size for Small Shareholders. The Company believes that this reservation of up to 15% for Small Shareholders would benefit a large number of the Company’s public shareholders, who would be classified as Small Shareholders for the purposes of the Buyback;
  • However, this Buyback would help in improving financial ratios like earnings per share and return on equity, by reducing the equity base of the Company;

Impact of Indian Toners & Developers Buyback on the Company

The Buyback is not likely to cause any material impact on the profitability or earnings of the Company except a reduction in the amount available for investment, which the Company could have otherwise deployed towards generating investment income.

Also, the Buyback shall not result in a change in control or otherwise affect the existing management structure of the Company.

Consequent to the Buyback and based on the number of Equity Shares bought back from Non-Resident Shareholders, Indian financial institutions, banks, mutual funds and the public including other bodies corporate, the shareholding of each such person shall undergo a change.

The debt-equity ratio following the Buyback, both on standalone and consolidated basis, shall be compliant with the permissible limit of 2:1 prescribed by the Companies Act even if the response to the Buyback is to the extent of 100% (full Acceptance) from all the Eligible Shareholders up to their Buyback Entitlement.

The Buyback is not expected to impact growth opportunities for the Company.

Salient financial parameters consequent to the Buyback based on the latest audited financial statement of the Company for the half year ended March 31, 2020 are as under:

Parameters (based on audited standalone financial statements for year ended March 31, 2020)Pre Buy-backPost Buy-back
(Assuming Full Acceptance)
Net worth (Rs in crores)18,442.1714,743.59
Return on Net worth (%)6.618.27
Earnings Per Share (Rs)9.2711.24
Book Value per Share (Rs)140.12135.89
Price / Earnings Ratio (P/E)**11.519.49
Total Debt / Equity Ratio

Basis of Calculating Indian Toners & Developers Buyback Price

The Equity Shares of the Company are proposed to be bought back at the Buyback Price, i.e., Rs.160/- per Equity Share. 10.2. The Buyback Price has been arrived at after considering various factors such as

(i) the share price benchmarks on the BSE, the stock exchange where the Equity Shares are Listed and traded,

(ii) net worth of the Company, and

(iii) the impact on the earnings per Equity Share. 10.3.

Also, the Buyback Price represents a premium of 52% over the volume weighted average market price of the Equity Shares on the BSE for the 60 trading days preceding October 27, 2020. In addition, being the date of intimation to the Stock Exchange of the Board Meeting to consider the proposal of the Buyback. And 59.48% over the volume weighted average market price of the Equity Shares on the BSE for the 10 trading days preceding the date of intimation to the Stock Exchange of the Board Meeting to consider the proposal of the Buyback.


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Source of Funds for the Buyback

Assuming that the response to the Buyback is to the extent of 100% (full Acceptance), and the funds that would be utilized by the Company for the purpose of the Buyback would be Rs.36,98,57,600 only.

The funds for the Buyback will be sourced from current balances of cash and cash equivalents and/or internal accruals of the Company. Above all, the Company does not intend to raise additional debt for the explicit purposes of the Buyback. Subsequently, the Borrowed funds will not be used for the Buyback.

Most importantly, this Buyback is not likely to cause any material impact on the earnings of the Company. Except for the cost of financing the Buyback, being a reduction in the treasury income that the Company could have otherwise earned on the funds deployed.

The Company shall however, transfer from its free reserves, a sum equal to the nominal value of the Equity Shares bought back to the capital redemption reserve account. And details of such transfer shall be disclosed in its subsequent audited financial statements. Similarly, the funds borrowed, if any, from banks and financial institutions will not be used for the Buyback.


Indian Toners & Developers Limited – Manager to the Buyback

Corporate Professionals Capital Private Limited
D-28, South Extension Part-1, New Delhi-110049, India
Tel: 011-40622230/ 40622200;
Contact person: Ms Anjali Aggarwal,
Email: mb@indiacp.com
Website: www.corporateprofessionals.com
Investor grievance e-mail: mb@indiacp.com
SEBI Registration No.: INM000011435
Validity Period: Permanent Corporate Identity Number: U74899DL2000PTC104508

Indian Toners & Developers Ltd – Registrar to the Buyback

Alankit Assignments Limited
Alankit House, 4E/2, Jhandewalan Extension,
New Delhi – 110055
Tel: +91 11 42541234; 2354 1234; Fax: +91 11 4154 3474; 2355 2001
Email: rta@alankit.com, info@alankit.com
Website: www.alankit.com
Contact Person: Mr. Virender Sharma
SEBI Registration No.: INR000002532
Validity Period: Permanent
Corporate Identity Number: U74210DL1991PLC042569

Indian Toners & Developers Ltd Contact Details

Company Contact Details
INDIAN TONERS & DEVELOPERS LIMITED
CIN: L74993UP1990PLC015721
Registered Office: 10.5 KM Mile Stone, Rampur – Bareilly Road, Rampur, Uttar Pradesh, 244901
Ph: +011-45017000, Fax: +011-45017043
Website: www.indiantoners.com, E-mail: investors@indiantoners.com
Contact Person: Mr. S.C. Singhal, Company Secretary & Compliance Officer

 


Indian Toners & Developers Limited Buyback News

News 1 – Buyback PDF / Letter of Offer [Download]

News 2 – Indian Toners & Developers Ltd – Public Announcement


FAQs of Indian Toners Developers Buyback

What is the Indian Toners Developers Period?

Indian Toners Developers Buyback Period is briefly the time interval starting from the date of declaration of results of the postal ballot through remote e-voting i.e. MARCH 04, 2021. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. MARCH 18, 2021.

What type of buyback is Indian Toners Buyback?

This company has chosen the route of Tender offer to repurchase the shares from the eligible shareholders. Tender offer route is one of the Two Routes generally chosen by the companies, i.e. Tender Offer and Open Market Through Stock Exchanges.

What is the Indian Toners Buyback Offer?

Indian Toners Developers Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 23,11,610 Fully paid up Equity shares, adhering to the buyback price.

When Indian Toners Buyback offer will start?

As per the released schedule, the Indian Toners Developers Buyback offer will start on MARCH 04, 2021. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Indian Toners Developers Buyback at all times, we ensure you have access to the right data.

When is the closing date of Indian Toners Buyback?

For ease in access to the dates and related aspects, we have segregated the closing date of Indian Toners Developers Buyback. The buyback would close on MARCH 18, 2021. The closing date is the last day for which the Buyback shall be open for the shareholders.

What is the offer price for Indian Toners Buyback?

The amount at which the shares are taken back by the company is referred to as  Indian Toners Developers Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.160, the price paid to each eligible shareholder.

What is the record date for Indian Toners Buyback offer?

Record date of Indian Toners Developers Buyback is JANUARY 15, 2021. Record date is generally the day when eligible shareholders are declared. Furthermore, complying with Buyback regulations, letter of offer and Tender form is sent to the eligible shareholders.

What is the issue size of Indian Toners Developers Buyback?

Indian Toners Developers Buyback Size is Rs.36,98,57,600 and is the total worth of Equity Shares the company plans on taking back. This amount is obtained from the total number of equity shares, multiplied by the Buyback price.

What is the necessity for Indian Toners Developers Buyback?

Objective of the Indian Toners Developers Buyback is to enhance the total return made by equity shareholders. Herein, the excess funds are given to the equity shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans. Through buyback, the company will distribute the surplus cash to shareholders as per their holding proportion.

Who is the Registrar to Indian Toners Buyback offer?

The designated registrar of Indian Toners Developers Buyback is Alankit Assignments Limited. You can find all the details related to the registrar in this report and contact them if you have any queries. You can check the details of the registrar, contact person, email address and more.

Who is the Manager to the Indian Toners Buyback offer?

Manager to the Indian Toners Developers Buyback is Corporate Professionals Capital Private Limited. Manager basically ensures that the company following up buyback strictly adheres to and in conformity with the provisions of the Companies Act and Buyback Regulations.

How to check Indian Toners buyback acceptance ratio?

Acceptance ratio is basically the proportion of shares the company accepts, to the final number of shares tendered. It refers to how much the company would buyback and how profitable it would be for you. You can also check how much profit (%) you will earn. Click on the link and check on the website page.

Where to find Indian Toners Developers Buyback Dates / Events?

You can check the table for the list of events, as designed for the buyback. This article is your one and final destination to check all the Indian Toners Developers Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Indian Toners Developers Buyback Dates.

What can be the Impact of Indian Toners Developers Buyback on the Company?

The Buyback will not in any manner impair the ability of the Company to pursue growth opportunities or meet its cash requirements for business operations. The Buyback is expected to contribute to the overall enhancement of shareholder value and result in an increase in the return on equity of the Company. This Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding.

Where to find complete details on Indian Toners Developers Buyback?

As mentioned already, this page would give you every single detail about this buyback. Also, you find the link to download the Draft / Letter of Offer. Each and every section is vividly and carefully placed, giving you insights into all major as well as minor aspects of the ratio. The article is also inclusive of all the links.

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