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Sep 21, 2021 - Oct 4, 2021

Gandhi Special Tubes Limited Buyback (Gandhi Special Tubes Limited Buyback) Detail

Established in 1985, Gandhi Tubes is a leading manufacturer of tubes for manufacturing of automobile components . The company products can be mainly categorized into: Cold Drawn Bright Annealed Seamless Tubes, Precision Electric Resistance Welded Tubes, Cold Formed Coupling Nuts, High Pressure Diesel Fuel Injection Tubes. Company's products are marketed all over India and exported all over the world.

The company has 3 manufacturing plants located at Halol (near Vadodara) in Gujarat, with an approximate area of 20 acres and a construction shed of approximately 2.5 lakh sq.ft.

Gandhi Special Tubes Limited Buyback Detail

Issue PeriodSep 21, 2021 - Oct 4, 2021
Security NameGandhi Special Tubes Limited
Issue TypeTender Offer
Issue Size (Shares)0.08 Crores
Issue Size (Amount)₹42.16 Crores
Buyback Price₹550 per share
Face Value₹5 per share
Listing AtBSE, NSE

Gandhi Special Tubes Limited Buyback Issue Timetable

Offer Opens OnSep 21, 2021
Offer Closes OnOct 4, 2021
Record DateAug 31, 2021
Last Date for receipt of Tender FormsOct 6, 2021
Finalisation of Buyback AcceptanceOct 12, 2021
Last Date for settlment of bidsOct 13, 2021
Last Date for Extinguishment of SharesOct 20, 2021

Buyback Ratio

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 1 Equity Shares out of every 8 fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 12 Equity Shares out of every 221 fully paid-up Equity Shares held on the Record Date.

Company Financials

Summary of financial Information (standalone)
Particulars For the year/period ended (Rs.in Lakhs)
31-Mar-21 31-Mar-20 31-Mar-19
Total Income 11,965.50 8,664.96 13,061.55
Profit After Tax 3,615.23 2,137.28 3,863.13
Net Worth 16,890.22 14,352.80 19,845.45
Reserves and Surplus 16,244.29 13,706.87 19,154.52

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Aug-2021 557.85 432.9 483.73
Jul-2021 500 422.3 455.3
Jun-2021 442.05 310.1 374

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Aug-2021 558.85 432.65 483.88
Jul-2021 492.45 423 455.38
Jun-2021 441.7 310.05 374.02

Necessity of the Issue

The Buyback aims to :
i) Return surplus cash to the shareholders, thereby, optimizing returns to the shareholders and enhancing the overall shareholders’ value.
ii) Improve Return on Equity, Earnings per share, enhance return on invested capital, and thereby enhance shareholder value in the long term.

Gandhi Special Tubes Limited Buyback Documents

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Company Contact Information

Gandhi Special Tubes Limited
201-204, 2nd Floor,
Plaza, 55, Hughes Road, Next to Dharam Palace,
Mumbai 400007, Maharashtra,

Phone: +91-22-2363 4179
Email: complianceofficer@gandhitubes.com
Website: https://www.gandhispecialtubes.com/

Gandhi Special Tubes Limited Buyback Registrar

  1. KFintech Private Limited
       KFintech, Tower-B, Plot No 31 & 32,
       Financial District, Nanakramguda, Gachibowli,
       Hyderabad, Telangana India - 500 032.

    Phone: 04067162222, 04079611000
    Email: gstl.buyback2021@kfintech.com
    Website: https://karisma.kfintech.com/

Gandhi Special Tubes Limited Buyback Manager

Lead Manager(s)

  1. Prime Securities Limited

Registered Broker

  1. Dalal and Broacha Stock Broking Private Limited
    Email: khushbu.shah@dalal-broacha.com

Find Gandhi Special Tubes Limited Buyback Latest Update

Gandhi Special Tubes Limited Buyback FAQs

The Gandhi Special Tubes Limited Buyback opens on Sep 21, 2021, and closes on Oct 4, 2021.

The Gandhi Special Tubes Limited Buyback is a Tender Offer.

Gandhi Special Tubes Limited Buyback Schedule

Buyback Opening DateSep 21, 2021
Buyback Closing DateOct 4, 2021
Last Date for receipt of Tender FormsOct 6, 2021
Finalisation of Buyback AcceptanceOct 12, 2021
Last Date for settlment of bidsOct 13, 2021
Last Date for Extinguishment of SharesOct 20, 2021

The Gandhi Special Tubes Limited Buyback is being offered at Rs ₹550 per share per equity share.

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 1 Equity Shares out of every 8 fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 12 Equity Shares out of every 221 fully paid-up Equity Shares held on the Record Date.

The record date for the Gandhi Special Tubes Limited Buyback is Aug 31, 2021.

The issue size of Gandhi Special Tubes Limited Buyback is of 0.08 Crores equity shares at ₹550 per share aggregating upto ₹42.16 Crores.

The Buyback aims to :
i) Return surplus cash to the shareholders, thereby, optimizing returns to the shareholders and enhancing the overall shareholders’ value.
ii) Improve Return on Equity, Earnings per share, enhance return on invested capital, and thereby enhance shareholder value in the long term.

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 Gandhi Special Tubes Limited 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.


2 Comments

2. KAMMA SIVA RAMA KRISHNA  Oct 15, 2021 17:05 I Like It. | Report Abuse Reply
Aniket ji,
Unfortunately, the resultant amount of Rs.75350/- regarding the Buyback of the 137 accepted shares is yet to be credited to the bank/ trading account. On 14th, I have mailed to the Registrar n also to my booking agent with all the required particulars. Eagerly waiting for the response from them. I am hopeful that the due amount will be credited by 3 or 4 working days. Thank you.
2.7. amit K singh  Oct 21, 2021 19:44 I Like It. | Report Abuse
👍
2.8. KAMMA SIVA RAMA KRISHNA  Oct 21, 2021 22:46 I Like It. | Report Abuse
Amit ji,
Thank you very much for your……. .
1. Mit...  Sep 16, 2021 22:52 I Like It. | Report Abuse Reply
Any updates regarding star cement buy back