InfoBeans Technologies Buyback 2021 announced on 26 Apr 2021. The InfoBeans Technologies buyback to start from 8 June 2021 to 21 June 2021. And InfoBeans Technologies buyback record date set to 7 May 2021. The Company will do Buyback with equity of 4,31,717 Equity Shares around 1.80% of Face Value Rs. 10/ Each Fully paid off at a Price Of Rs. 232/- Per Equity. The size of this Buyback is about 10 Crores. And this will be done through a Buyback Tender Offer.
Let us know that InfoBeans Technologies Ltd (ITL) is a software services company that develops and maintains computer software in India and internationally. ITL’s services can be broadly categorized as storage & Virtualization, Media & Publishing, and eCommerce.
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The company offers automated testing services; enterprise cloud solutions to automate operations, such as IT helpdesk, asset management, enterprise service management, and virtual support workflow; UX and UI design services; and custom application development services, including application development, maintenance, and support, migration, re-engineering, and modernization, and quality assurance services. They also provide distributed storage systems; publishing services for web, mobile, and print, as well as format conversion services; and e-commerce solutions. In addition, the company offers hardware products.
InfoBeans Technologies buyback 2021 Offer Details:
| Event Name | Details |
| Buyback Type | Tender Offer |
| Buyback Record Date | 7 May 2021 |
| Buyback Offer Amount | 10 Cr |
| Date of Board Meeting approving the proposal | 26 Apr 2021 |
| Date of Public Announcement | 28 Apr 2021 |
| Buyback Offer Size | 1.80% |
| Buyback Number of Shares | 4,31,717 |
| Price Type | Tender Offer |
| Face Value | Rs. 10/- |
| Buyback Price | 232/- Rs. |
InfoBeans Technologies Buyback 2021 Important Dates
We have covered all important dates related to “InfoBeans Technologies Buyback 2021” Buyback Activity Dates are updated as they are announced.
| Buyback Activity | Dates |
| Board Meeting for Buyback proposal | 26 Apr 2021 |
| Buyback Approval date | 26 Apr 2021 |
| Public Announcement Date | 28 Apr 2021 |
| Buyback Record Date | 7 May 2021 |
| Buyback Opening Date | 8 June 2021 |
| Buyback Closing Date | 21 June 2021 |
Details Of The Buyback Offer and Offer Price :
InfoBeans Technologies Limited has announced the offer to Buy-back up to 4,31,717 (Four Lakhs Thirty One Thousand Seven Hundred And Seventeen Only) Equity Shares, representing 1.80% of the issued, subscribed, and paid-up Equity Shares, from all Eligible shareholders (Equity Shareholders as on the Record Date, being Friday, May 07, 2021) on a proportionate basis, through the ‘tender offer’ process, at a price of ₹232.00 (Rupees Two Hundred and Thirty-Two only) per Equity Share, payable in cash, for an aggregate amount not exceeding ₹10,01,58,344(Rupees Ten Crores One Lakh Fifty-Eight Thousand Three Hundred and Forty Four only)excluding the Transaction Costs.
which represents 5.97% and 6.10% of the aggregate of the Company’s paid-up capital and free reserves as per the audited financials of the Company as on March 31, 2021, on a standalone and consolidated basis respectively (i.e., the last audited financial statements available as on the date of the Board Resolution approving the Buyback).
The Buyback Offer Size is within the statutory limit of 10.00% of the aggregate of paid-up capital and free reserves of the Company. The Buyback would involve reservation for Small Shareholders which will be 15.00% of the number of Equity Shares that the Company proposes to Buyback, or their entitlement, whichever is higher. The Board of Directors of the Company approved the Buyback on April 26, 2021.
The Buyback is being undertaken in accordance with Article 25 of the Articles of Association, Sections 68, 69, and 70, and other applicable provisions of the Companies Act, and applicable rules thereunder including the Companies (Share Capital and Debentures) Rules, 2014, and the SEBI Buyback Regulations. The Buyback is subject to receipt of such approvals, permissions, and sanctions, as may be required under the applicable laws including from the SEBI and/ or the NSE.
Buyback Link :
Registrar of The Buyback :
Link Intime India Private Limited
Address: C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai 400 083, Maharashtra, India
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Webiste: www.linkintime.co.in
Manager of The Buyback :
Sarthi Capital Advisors Private Limited
401, 4th Floor, Manek Plaza, 167, Vidyanagari
Marg, Kalina, Santacruz (E), Mumbai – 400 098
Telephone: +91 22 2652 8671/ 72
Email: [email protected]
Website: www.sarthiwm.in
Company Address :
InfoBeans Technologies Ltd
Crystal IT Park, STP-I 2nd Floor
Ring Road, Indore-452 001
Tel: 0731- 7162102
Email: [email protected]
Website: www.infobeans.com
How to Participate in InfoBeans Technologies buyback?
The Investors are eligible for the buyback scheme who have InfoBeans Technologies shares in their Demat account as Record date 7 May 2021. Investors can participate in the InfoBeans Technologies Buyback 2021 scheme as per the opening form by selling their shares. The payment will be given as per the accepted shares by the company under the InfoBeans Technologies buyback scheme.
InfoBeans Technologies Buyback 2021 FAQs:
When is InfoBeans Technologies Buyback Announcement Date?
InfoBeans Technologies’ buyback 2021 announcement date is 28 Apr 2021.
When is InfoBeans Technologies Buyback Open Date?
InfoBeans Technologies’ buyback Open date is 8 June 2021.
When is InfoBeans Technologies Buyback Close Date?
InfoBeans Technologies buyback Close date is 21 June 2021.
When is InfoBeans Technologies Buyback Record Date?
InfoBeans Technologies buyback 2021 Record date is 7 May 2021.
What is InfoBeans Technologies Buyback Price?
InfoBeans Technologies company has fixed the price at ₹232 per share.
What is InfoBeans Technologies Buyback Offer Size?
InfoBeans Technologies company Buyback Offer Size is ₹10 Cr.
How to apply for InfoBeans Technologies Buyback 2021?
As per the record date you need to have InfoBeans Technologies shares in your Demat account. You can participate in buyback after having the stock in your account.
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