Tender Offer | ₹19.13 Crores | Listed at BSE, NSE | Thu, Apr 8, 2021 - Mon, Apr 26, 2021
Gujarat Apollo Industries Ltd. Buyback is a tender offer for the repurchase of up to 0.09 crore equity shares at a buyback price of ₹222 per share with a face value of ₹10 per share, aggregating to ₹19.13 crores.
The record date for determining eligible shareholders is Feb 26, 2021. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Apr 8, 2021 and closes on Apr 26, 2021, with the last date for receipt of tender forms being Apr 28, 2021.
The finalisation of buyback acceptance is expected on May 4, 2021, followed by settlement of bids on May 5, 2021.
PL Capital Markets Pvt.Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Prabhudas Lilladher Private Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Gujarat Apollo Industries Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Apr 8, 2021
Offer Closing Date
Mon, Apr 26, 2021
Buyback Price
₹222 per share
Record Date
February 26, 2021
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 23 Equity Shares out of every 168 fully paid-up Equity Shares held on the Record Date |
| General Category for all other Eligible Shareholders | 1 Equity Share out of every 16 fully paid-up Equity Shares held on the Record Date |
| Particulars | For the year/period ended (Rs. in Lakhs) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 4,586.77 | 4,623.41 | 9,677.86 |
| Profit After Tax | 1,028.52 | 625.46 | 1,036.82 |
| Net Worth | 25,786.30 | 25,195.93 | 25,325.43 |
Gujarat Apollo provides state of the art and technically savvy crushing and screening solutions to industries like quarries, mining, construction, and recycling for over 40 years. The company manufactures equipment like crushers, static, portable, and mobile crushing and screening plants, recycled asphalt processors, mobile bridge inspection units, bucket crushers, etc.
Gujarat Apollo is renowned as the pioneer of technology like Asphalt road construction equipment.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 273.90 | 195.60 | 216.90 |
| Dec-2020 | 218.25 | 187.80 | 200.71 |
| Nov-2020 | 225.00 | 178.90 | 202.98 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 265.55 | 198.05 | 216.89 |
| Dec-2020 | 219.80 | 191.15 | 200.88 |
| Nov-2020 | 219.35 | 180.75 | 202.95 |
The Buy-back is being undertaken by the Company to:
i) Effectively utilize surplus cash;
ii) Reduce the fully paid-up, issued and outstanding number of equity shares and consequently increase earnings per share; and
iii) Improve financial ratios like return on net worth and return on capital employed.
Gujarat Apollo Industries Ltd.
“Parishram”, 5-B, Rashmi Society,
Nr. Mithakhali Circle, Navrangpura,
Ahmedabad - 380009
Ahmedabad, Gujarat, 380009
Lead Manager(s)
Registered Broker
The Gujarat Apollo Industries Buyback opens on April 8, 2021, and closes on April 26, 2021.
The Gujarat Apollo Industries Buyback last day to buy is not available as of now.
The Gujarat Apollo Industries Buyback is a Tender Offer.
Gujarat Apollo Industries Buyback Schedule
| Buyback Opening Date | April 8, 2021 |
| Buyback Closing Date | April 26, 2021 |
| Last Date for receipt of Tender Forms | April 28, 2021 |
| Finalisation of Buyback Acceptance | May 4, 2021 |
| Last Date for settlment of bids | May 5, 2021 |
| Last Date for Extinguishment of Shares | May 12, 2021 |
The Gujarat Apollo Industries Buyback is being offered at Rs ₹222 per share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 23 Equity Shares out of every 168 fully paid-up Equity Shares held on the Record Date |
| General Category for all other Eligible Shareholders | 1 Equity Share out of every 16 fully paid-up Equity Shares held on the Record Date |
The issue size of Gujarat Apollo Industries Buyback is 8,61,915 equity shares at ₹222 per share aggregating up to ₹19.13 Crores.
The Buy-back is being undertaken by the Company to:
i) Effectively utilize surplus cash;
ii) Reduce the fully paid-up, issued and outstanding number of equity shares and consequently increase earnings per share; and
iii) Improve financial ratios like return on net worth and return on capital employed.
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 Gujarat Apollo Industries 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.
