Gandhi Special Tubes Ltd Buyback 2019 Review

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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.

Gandhi Special Tubes Buyback 2019 Latest Update

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 [email protected] per share and current buyback is with a face value of Rs [email protected] 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.

Gandhi Special Tubes Ltd Buyback Offer Details

      »»   Total Share Capital: Rs 760 Cr
      »»   Face Value: 5 Per Equity Share
      »»   Buyback Offer Amount: Rs 49.50 Cr
      »»   Buyback Offer Size (In %): 6.51%
      »»   Buyback Number of Shares: 9 lakh
      »»   Buyback Price: Rs 550
      »»   Promoters and Promoter Group participation:Yes
      »»   Buyback type:Tender Offer
      »»   Can I Invest today to participate in Gandhi Special Tubes Ltd buyback offer :No

Review & Recommendation

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.

Rating

  • Poor (<10% AR)
  • Fair (Bw 11 to 30% AR)
  • Average (Bw 30 to 60% AR)
  • Good (Bw 60 to 90% AR)
  • Excellent (>90% AR)

Gandhi Special Tubes Ltd Buyback Important Dates

In this section we have covered all imporatant 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.

    Gandhi Special Tubes Ltd buyback offer important dates
    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

Gandhi Special Tubes Ltd Share Holding Pattern as of Mar 2019

Stock Holding table will give you a clear picture, how many retail investor holding Gandhi Special Tubes Ltd shares, with this you can plan for participate in buyback offer. The less number of retail holding make more chance to get higher acceptance ratio in buyback under ratail category = 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

Gandhi Special Tubes Ltd Ratio of Buyback

    For Buy back shares holders are divided in 2 categories:

    • Reserved category for Small Shareholders ("Reserved Category") - Who holds Max Rs 2 Lakhs worth of shares @Rs 312.10 per equity share - in such case Max 640 Equity Shares as of Record Date 16th Aug 2019.
    • General category for all Shareholders other than Small Shareholders ("General Category")

    Gandhi Special Tubes Ltd Ratio of Buy Back

    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

Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.

Post buyback comments Gandhi Special Tubes Ltd

    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%.

Current and Upcoming Buybacks Key dates

The table below will give you a complete dashboard view for all open buyback offer in current market.

Current and Upcoming Buybacks Key dates
Company NameBuyback TypeOffer AmountBuyback PriceCMPRecord DateBuyback Open DateBuyback End Date
Thomas Cook India LtdTender OfferRs 150 Cr57.5031.10 (4.71%)07-03-2020TBDTBD
NIIT TechnologiesTender OfferRs 337 Cr17251457.30 (0.46%)12-03-202029-05-202011-06-2020
Tips Industries LimitedTender OfferRs 18.90 Cr140103.15 (-0.43%)03-04-2020TBDTBD
Coral India Finance And Housing LtdTender OfferRs 21.08 Cr1714.01 (-2.16%)17-04-2020TBDTBD
Indiabulls Real Estate LimitedTender OfferRs 500 Cr10044.30 (1.14%)TBDTBDTBD
Granules India LtdTender OfferRs 250 Cr200181.25 (5.78%)TBDTBDTBD

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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?

Company Contact Information

Gandhi Special Tubes
201-204 Plaza,
2nd Floor, ,55 Hughes Road,
Mumbai,MH, 400007
Website: http://www.gandhitubes.com

Registrar Contact Information

Karvy Fintech Pvt. Ltd.,
Karvy Selenium Tower B,
Plot No. 31-32,
Gachibowli,
Hyderabad - 500032
Telangana
Website: http://www.karvyfintech.com
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Last Updated on 2019-10-23T01:44:20+00:00

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User Comments

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1. Manoj  9/18/2019 12:34:58 PM Reply
Thanks, Team, Saved, Your recommendation is 100% correct with Gandhi Special Tubes Buyback. Keep posting.
avatar
2.1. Sanjeev Thakur  10/16/2019 10:38:33 PM
56 share accepted out of 200. So approx buyback acceptance is 26%

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