Tender Offer | ₹30.10 Crores | Listed at BSE, NSE | Thu, Jul 4, 2024 - Wed, Jul 10, 2024
Godawari Power & Ispat Ltd. Buyback is a tender offer for the repurchase of up to 0.22 crore equity shares, representing 1.64% of the total paid-up equity share capital at a buyback price of ₹1400 per share with a face value of ₹5 per share, aggregating to ₹30.10 crores.
The record date for determining eligible shareholders is Jun 28, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jul 4, 2024 and closes on Jul 10, 2024, with the last date for receipt of tender forms being Jul 10, 2024.
The finalisation of buyback acceptance is expected on Jul 16, 2024, followed by settlement of bids on Jul 18, 2024.
Mark Corporate Advisors Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Ventura Securities Limited is the Registered Broker 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
Thu, Jul 4, 2024
Offer Closing Date
Wed, Jul 10, 2024
Buyback Price
₹1400 per share
Record Date
June 28, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 56 Fully paid-up Equity Shares held on the Record Date. | 322,500.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 729 Fully paid-up Equity Shares held on the Record Date. | 1,827,500.00 |
Godawari Power & Ispat Limited's revenue decreased by -4.63% and profit after tax (PAT) rose by 14.94% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 51.32 | 53.81 | 50.93 |
| Profit After Tax | 9.17 | 7.98 | 13.51 |
| Net Worth | 43.20 | 37.62 | 30.94 |
| Amount in ₹ Crore | |||
Founded in 1999, Godawari Power & Ispat Ltd (GPIL) is a pioneering company belonging to the HIRA Group of Industries. The company was established to set up an integrated steel plant with captive power generation.
GPIL is the flagship company of the Raipur-based Hira Group of Industries. The company has a dominant presence in the long products segment of the steel industry, especially in mild steel wire. GPIL is an end-to-end manufacturer of mild steel wire.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 1,179.95 | 887.10 | 1,012.73 |
| May-2024 | 979.40 | 859.30 | 912.72 |
| Apr-2024 | 914.70 | 730.05 | 823.30 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 1,174.50 | 886.10 | 1,011.92 |
| May-2024 | 978.50 | 860.00 | 912.45 |
| Apr-2024 | 915.00 | 730.05 | 823.01 |
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 2024 opens on July 4, 2024, and closes on July 10, 2024.
Last date to be eligible to participate in buyback is June 27, 2024.
The Godawari Power and Ispat Buyback 2024 is a Tender Offer.
Godawari Power and Ispat Buyback 2024 Schedule
| Buyback Opening Date | July 4, 2024 |
| Buyback Closing Date | July 10, 2024 |
| Last Date for receipt of Tender Forms | July 10, 2024 |
| Finalisation of Buyback Acceptance | July 16, 2024 |
| Last Date for settlment of bids | July 18, 2024 |
| Last Date for Extinguishment of Shares | July 29, 2024 |
The Godawari Power and Ispat Buyback 2024 is being offered at Rs ₹1400 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 56 Fully paid-up Equity Shares held on the Record Date. | 322,500.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 729 Fully paid-up Equity Shares held on the Record Date. | 1,827,500.00 |
The issue size of Godawari Power and Ispat Buyback 2024 is 21,50,000 equity shares at ₹1400 per share aggregating up to ₹30.10 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 2024 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.
