Open Market Through Stock Exchange | ₹225.00 Crores | Listing at BSE, NSE | Fri, Jan 7, 2022 - Wed, Jul 6, 2022
The Great Eastern Shipping Company Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹333 per share with a face value of ₹10 per share, aggregating to ₹225.00 crores.
The buyback opens on Jan 7, 2022 and closes on Jul 6, 2022.
Kotak Mahindra Capital Co.Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Kotak Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the The Great Eastern Shipping Company Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Fri, Jan 7, 2022
Offer Closing Date
Wed, Jul 6, 2022
Buyback Price
₹333 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-March-21 | 31-March-20 | 31-March-19 | |
| Total Income | 14,670 | 28,930 | 30,910 | 28,150 |
| Profit After Tax | 3,730 | 10,300 | 2,810 | -190 |
| Net Worth | 63,560 | 60,980 | 50,670 | 50,660 |
| Reserves & Surplus | 62,090 | 59,510 | 49,200 | 49,150 |
G E Shipping is one of the largest private-sector shipping service providers in India. The company also has a strong presence in the international maritime industry.
The company's shipping business operates under two main businesses: (1) Dry bulk carriers and (ii) Tankers. The company has a fleet of 45 ships aggregating to 3.57 Mn DWT (Deadweight Tonnage). The company has been certified to ISO 9001: 2015, ISO 14001: 2015, and ISO 45001: 2018 standards by DNV.GL
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 351.80 | 291.25 | 325.81 |
| Oct-2021 | 382.00 | 311.05 | 346.46 |
| Sep-2021 | 379.00 | 348.75 | 362.27 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2021 | 352.10 | 291.30 | 325.70 |
| Oct-2021 | 382.25 | 310.80 | 346.45 |
| Sep-2021 | 379.20 | 351.10 | 362.46 |
The Buyback aims to :
i) Reduce outstanding number of equity shares and
consequently increase earnings per share and book value per share.
ii) Effectively utilize available cash; and
iii) Improve key return ratios like return on equity capital.
The Great Eastern Shipping Company Ltd.
Ocean House,
134/A, Dr Annie Besant Road,
Worli, Mumbai· 400018
Mumbai, Maharashtra, 400018
Lead Manager(s)
Registered Broker
The Great Eastern Shipping Buyback opens on January 7, 2022, and closes on July 6, 2022.
The Great Eastern Shipping Buyback is a Open Market Through Stock Exchange.
Great Eastern Shipping Buyback Schedule
| Buyback Opening Date | January 7, 2022 |
| Buyback Closing Date | July 6, 2022 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The Great Eastern Shipping Buyback is being offered at Rs ₹333 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The Great Eastern Shipping Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹225.00 Crores with pricing of Rs. ₹333 per share.
The Buyback aims to :
i) Reduce outstanding number of equity shares and
consequently increase earnings per share and book value per share.
ii) Effectively utilize available cash; and
iii) Improve key return ratios like return on equity capital.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The Great Eastern Shipping 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.
