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Incorporated in 1969, Shanthi Gears is a leading gear manufacturing company in India. The Company has 40+ year of expertise in the automobile sector with gear manufacturing. The Company was acquired by Tube Investments, a Murugappa group company in 2002 and now subsidiary of the Tube Investments of India. The Shanthi Gears was listed in Indian Stock Exchange in 1986. The Company offers a comprehensive range of products and services cutting-edge gear solutions for a wide range of applications and specialized gear reconditioning services. The Company has 4 production units and has in-house R&D center.
Dec 26, 2018: Shanthi Gears Ltd (BSE:522034 | NSE:SHANTIGEAR) board has approved a proposal for buyback of up to 50 lakhs shares at Rs 140 per share, aggregating Rs 70 Cr (Buyback Offer Size) which is 3.06% of total paid-up equity share capital.
Dec 26,2018 - The Company also approved Interim Dividend of Rs 5 per equity share of the face value of Rs 1, the record date for dividend is Monday, Jan 7th 2019.
Below is the complete details about Shanthi Gears Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 70 Cr |
| Buyback Number of Shares: | 50 lakhs |
| Buyback Price: | Rs 140 |
| Buyback Offer Size (In %): | 6.12% |
| Total Share Capital: | Rs 1,072.52 Cr |
| Face Value: | 1 Per Equity Share |
Can I Invest today to participate in Shanthi Gears Ltd buyback offer? No
In this section we have covered all important dates related to Shanthi Gears 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 | 26th Dec 2018 |
| Buyback Approval date | 26th Dec 2018 |
| Public Announcement of Buyback | 26th Dec 2018 |
| Record Date | 8th Feb 2019 |
| Buyback opens on/Buyback Opening Date | 13th Mar 2019 |
| Buyback closes on/Buyback Closing Date | 27th Mar 2019 |
| Cut-off date to receive completed tender forms by Registrar | 29th Mar 2019 |
| Cut-off date for verification by the Registrar | 4th Apr 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
4th Apr 2019 |
| Last date of settlement of bids on the stock exchange | 5th Apr 2019 |
| Last date to return unaccepted shares by Registrar | 5th Apr 2019 |
| Last date of extinguishment of Equity Shares | 12th Apr 2019 |
Stock Holding table gives a clear picture on retail investor holdings of Shanthi Gears 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 | 70.12% |
| Non-Promoter-Institutions | 4.28% |
| Non-Promoter-Non-Institutions | 21.42% |
Shanthi Gears Ltd Letter of Offer >>Document
Shanthi Gears Ltd Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 3 Equity Share out of every 14 fully paid-up Equity Share held on the Record Date. | 21.43 |
| General Category | 52 Equity Share out of every 957 fully paid-up Equity Share held on the Record Date. | 5.43% |
For Shanthi Gears Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 317.50, No. of Equity Shares reserved in Buyback was 4250000 where valid bid received for retail category was 13493673 which is 317.50 oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 88.14%, No. of Equity Shares reserved in Buyback was 750000 where valid bid received for retail category was 661056 which is 88.14%. Final Acceptance Ratio for Retail Investors was 100%.
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 | 985.20 (6.44%) | 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 | 169.05 (2.45%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 296.25 (-0.60%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 462.10 (0.35%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
Shanthi Gears 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 Shanthi Gears Ltd? How can I apply in Shanthi Gears Ltd Buyback offer?Last Updated on 2019-04-12T22:43:21+00:00
