Tender Offer | ₹250.00 Crores | Listed at BSE, NSE | Mon, Apr 10, 2023 - Mon, Apr 17, 2023
Godawari Power & Ispat Ltd. Buyback is a tender offer for the repurchase of up to 0.50 crore equity shares at a buyback price of ₹500 per share with a face value of ₹5 per share, aggregating to ₹250.00 crores.
The record date for determining eligible shareholders is Mar 31, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Apr 10, 2023 and closes on Apr 17, 2023, with the last date for receipt of tender forms being Apr 17, 2023.
The finalisation of buyback acceptance is expected on Apr 21, 2023, followed by settlement of bids on Apr 24, 2023.
Mark Corporate Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar to the Buyback.
Investors are advised to refer to the Godawari Power & Ispat Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Mon, Apr 10, 2023
Offer Closing Date
Mon, Apr 17, 2023
Buyback Price
₹500 per share
Record Date
March 31, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 29 Fully paid-up Equity Shares held on the Record Date. | 750,000.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 346 Fully paid-up Equity Shares held on the Record Date. | 4,250,000.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3,473.55 | 3,961.03 | 654.51 |
| 31-Mar-22 | 4,889.93 | 5,428.55 | 1,467.31 |
| Amount in ₹ Crore | |||
Incorporated in 1999, Godawari Power & Ispat Ltd. (GPIL) is a pioneer constituent belonging to HIRA Group of Industries. The company was formed to set up an integrated steel plant with captive power generation.
GPIL is the flagship Company of the Raipur-based Hira Group of Industries. It has a dominant presence in the long-product segment of the Steel industry, primarily in mild steel wire. GPIL serves as an end-to-end manufacturer of mild steel wires.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 404.95 | 338.00 | 368.50 |
| Jan-2023 | 415.15 | 367.65 | 398.77 |
| Dec-2022 | 381.95 | 313.20 | 348.80 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2023 | 404.55 | 337.85 | 368.58 |
| Jan-2023 | 415.40 | 367.70 | 398.83 |
| Dec-2022 | 382.00 | 306.75 | 348.93 |
The Buyback is being undertaken for the following reasons:
Godawari Power & Ispat Ltd.
428/2, Phase-I,
Industrial Area,
Siltara – 493111 Dist. Raipur
Raipur, Chhattisgarh, 493111
Lead Manager(s)
Registered Broker
The Godawari Power and Ispat Buyback 2023 opens on April 10, 2023, and closes on April 17, 2023.
Last date to be eligible to participate in buyback is March 29, 2023.
The Godawari Power and Ispat Buyback 2023 is a Tender Offer.
Godawari Power and Ispat Buyback 2023 Schedule
| Buyback Opening Date | April 10, 2023 |
| Buyback Closing Date | April 17, 2023 |
| Last Date for receipt of Tender Forms | April 17, 2023 |
| Finalisation of Buyback Acceptance | April 21, 2023 |
| Last Date for settlment of bids | April 24, 2023 |
| Last Date for Extinguishment of Shares | May 4, 2023 |
The Godawari Power and Ispat Buyback 2023 is being offered at Rs ₹500 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 3 Equity Shares out of every 29 Fully paid-up Equity Shares held on the Record Date. | 750,000.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 346 Fully paid-up Equity Shares held on the Record Date. | 4,250,000.00 |
The issue size of Godawari Power and Ispat Buyback 2023 is 50,00,000 equity shares at ₹500 per share aggregating up to ₹250.00 Crores.
The Buyback is being undertaken for the following reasons:
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 Godawari Power and Ispat 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.
