Tender Offer | ₹652.81 Crores | Listed at BSE, NSE | Fri, Dec 1, 2023 - Thu, Dec 7, 2023
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Buyback is a tender offer for the repurchase of up to 0.85 crore equity shares at a buyback price of ₹770 per share with a face value of ₹10 per share, aggregating to ₹652.81 crores.
The record date for determining eligible shareholders is Nov 24, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Dec 1, 2023 and closes on Dec 7, 2023, with the last date for receipt of tender forms being Dec 7, 2023.
The finalisation of buyback acceptance is expected on Dec 13, 2023, followed by settlement of bids on Dec 14, 2023.
SBI Capital Markets Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and SBICAP Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Dec 1, 2023
Offer Closing Date
Thu, Dec 7, 2023
Buyback Price
₹770 per share
Record Date
November 24, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 4 Equity Shares out of every 51 Fully paid-up Equity Shares held on the Record Date. | 1,271,715.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 58 Fully paid-up Equity Shares held on the Record Date. | 7,206,385.00 |
Gujarat Narmada Valley Fertilizers & Chemicals Limited's revenue increased by 19.62% and profit after tax (PAT) dropped by -13.97% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 11,695.53 | 10,734.39 | 8,384.81 |
| Revenue | 10,588.16 | 8,851.71 | 5,365.92 |
| Profit After Tax | 1,471.54 | 1,710.41 | 689.21 |
| Net Worth | |||
| Reserves and Surplus | 8,949.69 | 7,834.61 | 5,912.78 |
| Total Borrowing | |||
| Amount in ₹ Crore | |||
Incorporated in 1976, Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) is a public sector company based in India. It is located in Bharuch, Gujarat. GNFC is primarily engaged in the manufacturing of fertilizers and chemicals.
GNFC produces a wide range of fertilizers, including urea, ammonium nitro phosphate, calcium ammonium nitrate, and other nitrogenous and phosphatic fertilizers. These fertilizers play a crucial role in promoting agricultural productivity in India.
In addition to fertilizers, GNFC is also involved in the production of various chemicals and petrochemicals, such as methanol, formic acid, acetic acid, ethyl acetate, and other chemical intermediates. The company has diversified its operations to include various chemical and petrochemical products that serve a range of industries.
GNFC has received recognition for its commitment to sustainable development and corporate social responsibility. It is known for its efforts in promoting environmentally friendly and energy-efficient practices in the chemical and fertilizer industry. The company also undertakes several social and community development initiatives in the areas where it operates.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2023 | 706.90 | 600.05 | 643.87 |
| Aug-2023 | 662.00 | 595.25 | 625.26 |
| Jul-2023 | 620.95 | 532.00 | 566.74 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2023 | 707.00 | 601.00 | 644.04 |
| Aug-2023 | 661.90 | 595.15 | 625.22 |
| Jul-2023 | 621.00 | 532.00 | 566.81 |
The company is proposing the buyback to return surplus funds to the equity shareholder/beneficial owner of the Equity Shares as on the record date (Eligible shareholder) which are over and above its ordinary capital requirement and in excess of any current investment plans, in an expedient, efficient and cost-effective manner. Additionally, the company strives to increase the Shareholder's value and the buyback would result in the following benefits amongst other things:-
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
P.O. Narmadanagar - 392015
Dist. Bharuch
Bharuch, Gujarat
Lead Manager(s)
Registered Broker
The Gujarat Narmada Valley Fertilizers Buyback 2023 opens on December 1, 2023, and closes on December 7, 2023.
Last date to be eligible to participate in buyback is November 23, 2023.
The Gujarat Narmada Valley Fertilizers Buyback 2023 is a Tender Offer.
Gujarat Narmada Valley Fertilizers Buyback 2023 Schedule
| Buyback Opening Date | December 1, 2023 |
| Buyback Closing Date | December 7, 2023 |
| Last Date for receipt of Tender Forms | December 7, 2023 |
| Finalisation of Buyback Acceptance | December 13, 2023 |
| Last Date for settlment of bids | December 14, 2023 |
| Last Date for Extinguishment of Shares | December 26, 2023 |
The Gujarat Narmada Valley Fertilizers Buyback 2023 is being offered at Rs ₹770 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 4 Equity Shares out of every 51 Fully paid-up Equity Shares held on the Record Date. | 1,271,715.00 |
| General Category for all other Eligible Shareholders | 3 Equity Shares out of every 58 Fully paid-up Equity Shares held on the Record Date. | 7,206,385.00 |
The issue size of Gujarat Narmada Valley Fertilizers Buyback 2023 is 84,78,100 equity shares at ₹770 per share aggregating up to ₹652.81 Crores.
The company is proposing the buyback to return surplus funds to the equity shareholder/beneficial owner of the Equity Shares as on the record date (Eligible shareholder) which are over and above its ordinary capital requirement and in excess of any current investment plans, in an expedient, efficient and cost-effective manner. Additionally, the company strives to increase the Shareholder's value and the buyback would result in the following benefits amongst other things:-
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Gujarat Narmada Valley Fertilizers Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
