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July 4, 2024 - July 10, 2024

Godawari Power & Ispat Limited Buyback (Godawari Power and Ispat Buyback 2024) Detail

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.

Godawari Power and Ispat Buyback 2024 Detail

Issue PeriodJuly 4, 2024 - July 10, 2024
Security NameGodawari Power & Ispat Limited
Issue TypeTender Offer
Issue Size (Shares)2,150,000 (1.64 % of Total number of equity Shares)
Issue Size (Amount)₹30.10 Crores
Buyback Price₹1400 per share
Face Value₹5 per share
Listing AtBSE, NSE

Godawari Power and Ispat Buyback 2024 Issue Timetable

Last Date to buy sharesJune 27, 2024
Record DateJune 28, 2024
Offer Opens OnJuly 4, 2024
Last Date for receipt of Tender FormsJuly 10, 2024
Offer Closes On *July 10, 2024
Finalisation of Buyback AcceptanceJuly 16, 2024
Last Date for settlment of bidsJuly 18, 2024
Last Date for Extinguishment of SharesJuly 29, 2024
* Last Date to Tender shares on Zerodha : July 9, 2024

Buyback Ratio

CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders5 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 Shareholders11 Equity Shares out of every 729 Fully paid-up Equity Shares held on the Record Date.1,827,500.00

Company Financials

Godawari Power & Ispat Limited Financial Information (Restated Consolidated)

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Revenue51.3253.8150.93
Profit After Tax9.177.9813.51
Net Worth43.2037.6230.94
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

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

Stock price at NSE (in preceding 3 months)

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

Necessity of the Issue

The Buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding.
  2. The buyback will help the company to optimize its capital structure.
  3. The buyback consists of a reservation for the small shareholder. The company believes that this reservation for small shareholders would benefit many public shareholders who would be classified as "small shareholders".
  4. The buyback may help in improving financial ratios like earnings per share, return on capital employed, and return on equity, by reduction in the equity base, thereby leading to a long-term increase in shareholders' value.
  5. The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer.

Godawari Power and Ispat Buyback 2024 Documents

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Company Contact Information

Godawari Power & Ispat Limited
428/2, Phase-I,
Industrial Area,
Siltara – 493111 Dist. Raipur

Phone: +91 771 4082333 / 40
Email: contact@gpil.in
Website: http://www.godawaripowerispat.com

Godawari Power and Ispat Buyback 2024 Registrar

  1. Link Intime India Private Ltd
       Link Intime India Private Ltd
       C 101, 247 Park, L.B.S.Marg,
       Vikhroli (West), Mumbai - 400083

    Phone: +91-22-4918 6270
    Email: godawari.buyback2024@linkintime.co.in
    Website: https://linkintime.co.in/initial_offer/public-issues.html

Godawari Power and Ispat Buyback 2024 Manager

Lead Manager(s)

  1. Mark Corporate Advisors Private Limited

Registered Broker

  1. Ventura Securities Limited
    Email: nilesh@ventura1.com

Find Godawari Power and Ispat Buyback 2024 Latest Update

Godawari Power and Ispat Buyback 2024 FAQs

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 DateJuly 4, 2024
Buyback Closing DateJuly 10, 2024
Last Date for receipt of Tender FormsJuly 10, 2024
Finalisation of Buyback AcceptanceJuly 16, 2024
Last Date for settlment of bidsJuly 18, 2024
Last Date for Extinguishment of SharesJuly 29, 2024

The Godawari Power and Ispat Buyback 2024 is being offered at Rs ₹1400 per share per equity share.

CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders5 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 Shareholders11 Equity Shares out of every 729 Fully paid-up Equity Shares held on the Record Date.1,827,500.00

The record date for the Godawari Power and Ispat Buyback 2024 is June 28, 2024.

The issue size of Godawari Power and Ispat Buyback 2024 is of 2,150,000 equity shares at ₹1400 per share aggregating upto ₹30.10 Crores.

The Buyback is being undertaken for the following reasons:

  1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding.
  2. The buyback will help the company to optimize its capital structure.
  3. The buyback consists of a reservation for the small shareholder. The company believes that this reservation for small shareholders would benefit many public shareholders who would be classified as "small shareholders".
  4. The buyback may help in improving financial ratios like earnings per share, return on capital employed, and return on equity, by reduction in the equity base, thereby leading to a long-term increase in shareholders' value.
  5. The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer.

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.


22 Comments

22. RoK   I Like It. |Report Abuse|  Link|July 2, 2024 4:20:58 PMReply
Retail ER: 8.93% or 5 out of every 56 shares
22.18. RoK   I Like It. |Report Abuse|  Link|July 16, 2024 8:35:10 PM
@Jasmin

I used r just like AR or ER, a name to refer the ratio.

shortfall of shares = buyback size - total entitled share tendered

Eg. If buyback Size is 100000 shares and the company receives only 60000 entitled shares then the shortfall = 100000 - 60000 = 40000 shares. These 40000 shares will be brought from those who tender additional shares.

If the total additional shares tendered is 200000 then r = 40000÷200000
22.19. ValueSeeker   I Like It. |Report Abuse|  Link|July 17, 2024 10:46:48 AM
@Jasmin RABADIYA bhai,
I already mentioned, share entitlement was of 9 shares out of the 100 I owned.
So, 14 more accepted out of 91 additional tendered, which is approx 15.4%
21. saboo v   I Like It. |Report Abuse|  Link|July 16, 2024 3:58:54 PMReply
when will the unaccepted share be available for trading?
21.4. Jasmin RABADIYA   I Like It. |Report Abuse|  Link|July 16, 2024 8:37:33 PM
Rok bro I talk to angel one they said I can sell them on 29 july
21.5. RoK   I Like It. |Report Abuse|  Link|July 16, 2024 8:53:42 PM
Ok 👍
20. Vivek Makwana   I Like It. |Report Abuse|  Link|July 16, 2024 9:27:29 AMReply
How do i check that i my 1 share applied for buyback is accepted? And when the amount will to reflected in my bank account?
Please answer
20.1. Parth Joshi   I Like It. |Report Abuse|  Link|July 16, 2024 3:20:15 PM
Amount will be reflected by today or by tomorrow morning.
19. Gopi Myneni   I Like It. |Report Abuse|  Link|July 15, 2024 10:18:47 PMReply
GPIL Acceptance Ratio is ~23.68%. Received acceptance mail. Out of 300 shares tendered in 3 accounts, 71 got accepted.

19.1. Jasmin RABADIYA   I Like It. |Report Abuse|  Link|July 15, 2024 10:41:31 PM
My 8 shares are only accepted from 18 share what type of mail you received i don't recived any mail
18. MODSAK   I Like It. |Report Abuse|  Link|July 15, 2024 9:24:25 PMReply
Single shares accepted - 3/3 :)
17. KRUNAL SHAH   I Like It. |Report Abuse|  Link|July 15, 2024 12:54:27 PMReply
AR 25% HO GAYA. MSG AAYA MUJE ABHI
16. Nilay   I Like It. |Report Abuse|  Link|July 15, 2024 9:49:25 AMReply
AR will be 30 to 33%. This is as per calculation of past BB.
Any other guess
15. Jasmin RABADIYA   I Like It. |Report Abuse|  Link|July 9, 2024 4:58:45 PMReply
WHEN THE AR RATIO WILL BE DECLARED...
15.1. Vimal Garodia   I Like It. |Report Abuse|  Link|July 9, 2024 9:45:55 PM
Finalisation of Buyback Acceptance is on 16th so on or around that day..
14. MURTHY RAJAHMUNDRY   I Like It. |Report Abuse|  Link|July 4, 2024 11:17:04 AMReply
Any body pls guide me where we can tender buy back shares of Godavari Ispat in Zerodha kite app. No option available in console section.
14.2. Vimal Garodia   I Like It. |Report Abuse|  Link|July 4, 2024 5:43:10 PM
I do not have zerodha, but, a basic search on the net got me this link..

https://support.zerodha.com/category/trading-and-markets/corporate-actions/buyback/articles/how-do-i-apply-for-buy-back

Try searching, it helps..
14.3. MURTHY RAJAHMUNDRY   I Like It. 1|Report Abuse|  Link|July 6, 2024 11:13:02 AM
@Curio & @Vimal Garodi , thank you for your reply Sir.
Finally I checked and applied Sir.
13. Curio   I Like It. |Report Abuse|  Link|July 2, 2024 2:33:58 PMReply
I have got a mail for the buyback of Godawari Power stating two things:
1. Number of equity shares held by you on the record date = 1, I bought 1 for 1 share strategy, which is impliedly understood😅
2. Entitlement for Buy back offer in terms of number of equity shares = 0, I don't understand the second.

I request all the senior members if anyone can shed some light on it..
13.2. Vimal Garodia   I Like It. |Report Abuse|  Link|July 3, 2024 12:12:55 PM
Curio, akki, do not worry..
Even though entitlement is zero you can tender that one share, no issues. I have done it few times..😊😊
13.3. Curio   I Like It. |Report Abuse|  Link|July 4, 2024 3:23:09 PM
Ohk, noted that. Thank you sir.
12. VIRAL   I Like It. |Report Abuse|  Link|July 4, 2024 8:49:57 AMReply
Something is wrong in buyback details. Chittorgarh please check.
11. kumar K   I Like It. |Report Abuse|  Link|July 3, 2024 12:23:22 PMReply
Very poor buy back
10. Jasmin RABADIYA   I Like It. |Report Abuse|  Link|June 30, 2024 11:11:54 AMReply
If I sell this stock on record date then I am eligible for buyback or not?
10.6. Jasmin RABADIYA   I Like It. |Report Abuse|  Link|July 2, 2024 10:51:31 PM
@vimal garodia I got mail that out of 78 share 6 share will be accepted what should I do I have 18 share if I tender that approximately how many share will be accepted??
10.7. Vimal Garodia   I Like It. |Report Abuse|  Link|July 3, 2024 7:16:29 AM
If you tender 18 then 6 will be definitely accepted because that is what you are entitled..
And may be one more might get accepted

This is my understanding..
9. Ashish Kothari   I Like It. |Report Abuse|  Link|July 2, 2024 8:44:06 PMReply
Is there any link or portal on BSE/NSE to see the number of shares tendered for each particular day. Similarly how we see the number of applications for IPO
8. Sharksshark   I Like It. |Report Abuse|  Link|July 2, 2024 3:46:01 PMReply
I have got a mail saying I have 1 share but entitlement for buyback is 0. What does this means since I have bought share before 28 june itself??
8.1. Vimal Garodia   I Like It. 1|Report Abuse|  Link|July 2, 2024 4:41:21 PM
You can tender that one share anyway, i have done it few times, no problem..
7. Vimal Garodia   I Like It. |Report Abuse|  Link|July 2, 2024 12:28:46 PMReply
Tentative dates..

Buyback opens on 4th July
Closes on 10th July
7.1. Amit Agrawal   I Like It. 1|Report Abuse|  Link|July 2, 2024 2:38:19 PM
Dates confirmed sir july 4 to 10
6. Irfan   I Like It. |Report Abuse|  Link|June 20, 2024 10:30:42 AMReply
Size is 301 Cr not 30.1 cr, please update
6.1. Basuvr   I Like It. |Report Abuse|  Link|June 20, 2024 12:37:48 PM
Yes size is 301 Cr and buyback shares are 21,50,000
6.2. manu   I Like It. |Report Abuse|  Link|June 28, 2024 1:24:37 AM
i cant see any message in my angel one application
5. Tanmay   I Like It. |Report Abuse|  Link|June 25, 2024 1:30:56 PMReply
How much is reserved for the retail category out of 21,50,000 shares that are being bought back ?
5.1. RoK   I Like It. |Report Abuse|  Link|June 26, 2024 10:38:57 AM
3,22,500
5.2. Vimal Garodia   I Like It. |Report Abuse|  Link|June 26, 2024 12:34:51 PM
I think 15% or 3,22,500 as said by RoK..
4. Govarthanan   I Like It. |Report Abuse|  Link|June 20, 2024 9:35:12 AMReply
How to apply buyback from broker id or any website..
4.1. Vimal Garodia   I Like It. |Report Abuse|  Link|June 20, 2024 6:18:42 PM
When the buyback opens for subscription, there will be an option to tender shares in buyback in your brokers website or app..
3. Vishal   I Like It. |Report Abuse|  Link|June 19, 2024 7:41:08 PMReply
What about 1 share strategy? Expert please give us detail explanation.
3.1. Chhote Lal   I Like It. 1|Report Abuse|  Link|June 20, 2024 11:31:03 AM
One can buy 1 share of company and tender it during buyback. Chances are it will be accepted, whereas for multiple shareholders acceptance ratio may be different. In case of GPIL with current price of 1100, one can expect Rs 300 gains if buyback goes through. This gain is totally tax free. So, if someone maintains say 6 accounts of family and friends, 1 share strategy will yield 1800 Rs tax free gains.

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