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Incorporated in 1959, Gandhi Special Tubes Ltd is a leading manufacturer of automobile components. The company offer product in domestic as well as international market. The company is also manufacturing Cold Formed Tube Nuts for Fuel Injection Tube Assemblies, Hydraulic & other Tube Assemblies. This was a pioneering effort in India as hitherto tube nuts were being manufactured by machin. The company is ISO certified manufacturer.
May 28th, 2019:Gandhi Special Tubes Ltd (BSE:5130108 | NSE:GANDHITUBE) board has proposed a purchase of up to 9 lakh(Nine Lakh) shares at Rs 550 (Five Hundred Fifty) per share, aggregating Rs 49.50 Cr(Rupees Forty Nine Crore Fifty Lakh only) (Buyback Offer Size) that is 6.51% of total paid equity share capital.
In 2018 also Gandhi Special Tubes launched buyback via Tender Offer for Rs 44 Cr of 8.8 lakh shares @500. The current buyback is 5% bigger from the previous size. For retail investors, the last time acceptance ratio was approx 11.80%. Last year buyback was with the face value of Rs 10@500 per share and current buyback is with a face value of Rs 5@550 per share. After buyback share split in 1:1 ratio, so with that reference company has doubled the value of a share in the last 1 year.
The company also announced a dividend of Rs 9 per share, the record date for the dividend is July 12th, 2019. Payment of the dividend will be done before 30th Aug 2019.
Below is the complete details about Gandhi Special Tubes Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 49.50 Cr |
| Buyback Number of Shares: | 9 lakh |
| Buyback Price: | Rs 550 |
| Buyback Offer Size (In %): | 6.51% |
| Total Share Capital: | Rs 760 Cr |
| Face Value: | 5 Per Equity Share |
Can I Invest today to participate in Gandhi Special Tubes Ltd buyback offer? No
We advocate honest for Gandhi Special Tubes buyback as official acceptance ratio for the retail investors are going to be between 5 to 10% (Five to Ten Percent) and actual acceptance ration is going to be same. We tend to rate Gandhi Special Tubes buyback as 2.5/5 (Poor).
Making a resonable amount of profit is not possible in Gandhi Special Tubes buyback for a new retail investor. With referance to current market price buyback price is up by 35% (Approx). You can take advantage of dividend payment of Rs 9 per share with record date July 12th 2019.
In this section we have covered all important dates related to Gandhi Special Tubes Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 28th May 2019 |
| Buyback Approval date | 28th May 2019 |
| Public Announcement of Buyback | 28th May 2019 |
| Record Date | 16th Aug 2019 |
| Buyback opens on/Buyback Opening Date | 25th Sep 2019 |
| Buyback closes on/Buyback Closing Date | 10th Oct 2019 |
| Cut-off date to receive completed tender forms by Registrar | 12th Oct 2019 |
| Cut-off date for verification by the Registrar | 14th Oct 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
16th Oct 2019 |
| Last date of settlement of bids on the stock exchange | 18th Oct 2019 |
| Last date to return unaccepted shares by Registrar | 21st Oct 2019 |
| Last date of extinguishment of Equity Shares | 24th Oct 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Gandhi Special Tubes Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 73.26% |
| Non-Promoter-Institutions | 1.88% |
| Non-Promoter-Non-Institutions | 24.86% |
Gandhi Special Tubes Ltd Public Announcement >>Document
Gandhi Special Tubes Ltd Letter of Offer >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 3 Equity Share out of every 25 fully paid-up Equity Share held on the Record Date. | 6.01% |
| General Category | 3 Equity Share out of every 50 fully paid-up Equity Share held on the Record Date. | 12.48 |
For Gandhi Special Tubes Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 560.76%, No. of Equity Shares reserved in Buyback was 765000 where valid bid received for retail category was 4289799 which is 560.76% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 337.50%, No. of Equity Shares reserved in Buyback was 135000 where valid bid received for retail category was 455624 which is 337.50%. Final Acceptance Ratio for Retail Investors was 25%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 935.70 (-3.18%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 176.75 (-1.81%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 295.90 (-1.10%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 459.70 (-0.27%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Gandhi Special Tubes Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Gandhi Special Tubes Ltd? How can I apply in Gandhi Special Tubes Ltd Buyback offer?Last Updated on 2019-10-23T01:44:20+00:00
