Tender Offer | ₹1,082.72 Crores | Listed at BSE, NSE | Wed, May 25, 2022 - Tue, Jun 7, 2022
GAIL (India) Ltd. Buyback is a tender offer for the repurchase of up to 5.70 crore equity shares at a buyback price of ₹190 per share with a face value of ₹10 per share, aggregating to ₹1,082.72 crores.
The record date for determining eligible shareholders is Apr 22, 2022. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on May 25, 2022 and closes on Jun 7, 2022, with the last date for receipt of tender forms being Jun 9, 2022.
The finalisation of buyback acceptance is expected on Jun 15, 2022, followed by settlement of bids on Jun 16, 2022.
IDBI Capital Markets Services Ltd. is the Manager to the Buyback and MCS Share Transfer Agent Ltd. is the Registrar and IDBI Capital Markets & Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the GAIL (India) Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, May 25, 2022
Offer Closing Date
Tue, Jun 7, 2022
Buyback Price
₹190 per share
Record Date
April 22, 2022
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares for every 25 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares for every 179 Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs. in Crores) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 58,742.25 | 73,293.19 | 76,671.57 |
| Profit After Tax | 4,890.18 | 6,620.63 | 6,025.67 |
| Net Worth | 43,378.72 | 41,949.79 | 39,202.06 |
| Reserves and Surplus | 38,938.33 | 37,439.65 | 36,946.99 |
GAIL (India) Limited is a natural gas company that engages in the business of production, transmission, trading and exploration of natural gas, petrochemicals, LPG, LNG re-gasification, Liquid Hydrocarbons, etc. The company owns and operates a network of around 13,340 km of natural gas pipelines spread across the country. GAIL (India) Limited was incorporated in 1984.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 171.35 | 145.40 | 156.22 |
| Nov-2021 | 154.75 | 128.90 | 144.29 |
| Dec-2021 | 137.25 | 125.20 | 131.36 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Oct-2021 | 171.30 | 145.50 | 156.23 |
| Nov-2021 | 154.80 | 128.95 | 144.26 |
| Dec-2021 | 137.25 | 125.20 | 131.33 |
The buyback is being undertaken for the following reasons:
1. The Buyback would help in improving capital structure and return on equity, by reducing the equity base of the company, thereby leading to a long term increase in shareholders' value.
GAIL (India) Ltd.
GAIL Bhawan,
16 Bhikaji Cama Place,
R K Puram, New Delhi - 110066
New Delhi, New Delhi, 110066
Lead Manager(s)
Registered Broker
The GAIL (India) Buyback opens on May 25, 2022, and closes on June 7, 2022.
The GAIL (India) Buyback last day to buy is not available as of now.
The GAIL (India) Buyback is a Tender Offer.
GAIL (India) Buyback Schedule
| Buyback Opening Date | May 25, 2022 |
| Buyback Closing Date | June 7, 2022 |
| Last Date for receipt of Tender Forms | June 9, 2022 |
| Finalisation of Buyback Acceptance | June 15, 2022 |
| Last Date for settlment of bids | June 16, 2022 |
| Last Date for Extinguishment of Shares | June 23, 2022 |
The GAIL (India) Buyback is being offered at Rs ₹190 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 2 Equity Shares for every 25 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 2 Equity Shares for every 179 Equity Shares held on the Record Date. |
The issue size of GAIL (India) Buyback is 5,69,85,463 equity shares at ₹190 per share aggregating up to ₹1,082.72 Crores.
The buyback is being undertaken for the following reasons:
1. The Buyback would help in improving capital structure and return on equity, by reducing the equity base of the company, thereby leading to a long term increase in shareholders' value.
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 GAIL (India) Buyback 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.
