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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.
| Issue Period | Sep 21, 2021 - Oct 4, 2021 |
| Security Name | Gandhi Special Tubes Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 0.08 Crores |
| Issue Size (Amount) | ₹42.16 Crores |
| Buyback Price | ₹550 per share |
| Face Value | ₹5 per share |
| Listing At | BSE, NSE |
| Offer Opens On | Sep 21, 2021 |
| Offer Closes On | Oct 4, 2021 |
| Record Date | Aug 31, 2021 |
| Last Date for receipt of Tender Forms | Oct 6, 2021 |
| Finalisation of Buyback Acceptance | Oct 12, 2021 |
| Last Date for settlment of bids | Oct 13, 2021 |
| Last Date for Extinguishment of Shares | Oct 20, 2021 |
| 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. |
| 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 |
| 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 |
| 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 |
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.
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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/
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/
Lead Manager(s)
Registered Broker
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 Date | Sep 21, 2021 |
| Buyback Closing Date | Oct 4, 2021 |
| Last Date for receipt of Tender Forms | Oct 6, 2021 |
| Finalisation of Buyback Acceptance | Oct 12, 2021 |
| Last Date for settlment of bids | Oct 13, 2021 |
| Last Date for Extinguishment of Shares | Oct 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.
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Reply
Rs 0 Eq Delivery Brokerage
Flat ₹10 Per Trade in F&O
Rs 0 Demat AMC
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.