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NOTICES
Notice No.   20210127-31   Notice Date   27 Jan 2021
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Buyback) Industrial And Prudential Investment Company Limited
Attachments   LOF.pdf ;
Content

Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and 20201102-43 dated 02 Nov 2020 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.

 

All Market Participants are hereby informed that Industrial And Prudential Investment Company Limited (“the Company”) has announced Offer to Buyback up to 69,500 (Sixty Nine Thousand Five Hundred) fully paid-up equity shares of the Company of face value of Rs. 10/- (Rupees Ten only) each (“Equity Shares”), representing up to 3.98% of the total number of issued, subscribed and paid up Equity Shares of the Company, from all the equity shareholders/beneficial owners of the Company who holds Equity Shares as on the record date i.e. Friday, January 1, 2021 (“Record Date”), on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs. 1200/- (Rupees One Thousand and Two Hundred Only) per Equity Share (“Buyback Price”) for an aggregate amount of up to Rs. 8,34,00,000/- (Rupees Eight Crores Thirty Four Lakhs only) (“Buyback Size”), excluding the Transactional Cost ("Buyback"),  from February 04, 2021 to February 17, 2021.

 

Letter of Offer is herewith attached for perusal.

 

Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.

 

 

Atul Dhotre

Senior Manager

Listing Sales & Ops

January 27,2021