Gandhi Special Tubes Buyback 2021 announced on 22 June 2021. The Gandhi Special Tubes buyback to start Date from 21 September 2021 and closes on 4 October 2021. The Company will do Buyback with equity of 7,66,616 Equity Shares around 24.96% of Face Value Rs. ₹5/ Each Fully paid off at a Price Of Rs. ₹550/- Per Equity. The size of this Buyback is about ₹42.16 Crores. And this will be done through a Buyback Tender Offer.
Gandhi Special Tubes Ltd. delivers innovative and reliable tubular solutions to a diverse range of industries & niche markets in core sectors such as automotive, tractors, earthmovers, hydraulics, and general engineering. From its humble beginnings in India, Gandhi Special Tubes Ltd has expanded its presence across Asia, North America, and Europe as well. With a reputation for integrity, innovation & quality, Gandhi remains the undisputed market leader in Cold Drawn Seamless Tubes in India.
The Group continues to strive for excellence with its differentiated product mix, state-of-the-art German technology, excellence in execution, and focus on sustainability. Built on world-class manufacturing and engineering infrastructure in India, Gandhi Special Tubes Ltd. is recognized globally as one of the most trusted names in manufacturing customized tubular solutions.
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Gandhi Special Tubes buyback 2021 Offer Details:
|Buyback Type||Tender Offer|
|Buyback Record Date||31 August 2021|
|Buyback Offer Amount||₹42.16 Cr|
|Date of Board Meeting approving the proposal||22 June 2021|
|Date of Public Announcement||12 August 2021|
|Buyback Offer Size||24.96%|
|Buyback Number of Shares||7,66,616|
|Price Type||tender Offer|
|Face Value||₹5/- Rs.|
|Buyback Price||₹550/- per share.|
Gandhi Special Tubes Buyback 2021 Important Dates
We have covered all important dates related to “Gandhi Special Tubes Buyback Dates 2021” Buyback Activity Dates are updated as they are announced.
|Board Meeting for Buyback proposal||22 June 2021|
|Buyback Approval date||22 June 2021|
|Public Announcement Date||11 August 2021|
|Buyback Record Date||31 August 2021|
|Buyback Opening Date||21 September 2021|
|Buyback Closing Date||4 October 2021|
Details Of The Buyback Offer and Offer Price :
The board of directors of the Company (the “Board” which expression shall be deemed to also include any committee which the Board may constitute/authorize to exercise its powers, including the committee constituted by the Board to exercise its powers in relation to the Buyback) at its meeting held on 22 June 2021 (“Board Meeting”), have approved the buyback by the Company of its fully paid-up equity shares having face value of ₹
5 (Rupees Five) each (“Equity Shares”) at a price not exceeding ₹550 (Rupees One Hundred only) per Equity Share (“Maximum Buyback Price”) and for an aggregate amount not exceeding ₹₹42.16 Crores (Forty-Two crore sixteen lakh) (“Maximum Buyback Size”), from the shareholders / beneficial owners of the Company excluding its promoters.
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Members of its promoter group and persons who are in control of the Company, payable in cash from the open market through the stock exchange mechanism i.e. using the electronic trading facilities of the stock exchanges where the Equity Shares of the Company are listed i.e. National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”) (collectively referred as the “Stock Exchanges”), provided under the Buyback Regulations (“Buyback”).
At the Maximum Buyback Price and for the Maximum Buyback Size, the indicative maximum number of Equity Shares bought back would be approximately 7,66,616 Equity Shares (“Maximum Buyback Shares”) which is 24.96 % of the total number of paid-up Equity Shares.
Buyback Public Announcement Link :
Registrar of The Buyback :
KFin Technologies Private Limited
Selenium, Tower-B, Plot No 31–32,
Gachibowli Financial District, Nanakramguda,
Hyderabad 500032, India
Tel: +91-40-67162222 /
E-mail: [email protected]
Contact Person: Mr. M. Murali Krishna
Manager of The Buyback :
Prime Securities Limited
1109/1110, Maker Chambers V,
Nariman Point, Mumbai 400021,
Email: [email protected]
Company Address :
Gandhi Special Tubes Ltd
201-204, 2nd Floor,
Plaza, Mercedes Showroom, 55,
N S Patkar Marg, next to Dharam Palace,
Mumbai, Maharashtra 400007
How to Participate in Gandhi Special Tubes Ltd buyback?
The Investors are eligible for the buyback scheme who have Gandhi Special Tubes shares in their Demat account as the Record Date is 31 August 2021 as the offer is a Tender Offer. Investors can participate in the Gandhi Special Tubes Buyback 2021 scheme as per the opening form by selling their shares. The payment will be given as per the accepted shares by the company under the Gandhi Special Tubes buyback scheme.
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Gandhi Special Tubes Buyback 2021 FAQs:
When is Gandhi’s Special Tubes Buyback Announcement Date?
Gandhi Special Tubes buyback 2021 announcement date is 22 June 2021.
When is Gandhi Special Tubes Buyback Open Date?
Gandhi Special Tubes buyback Open date is 21 September 2021.
When is Gandhi Special Tubes Buyback Close Date?
Gandhi Special Tubes buyback Close date is 4 October 2021.
When is Gandhi Special Tubes Buyback Record Date?
Gandhi Special Tubes buyback Record date is 31 August 2021 as the offer is Tender Offer.
What is Gandhi Special Tubes Buyback Price?
Gandhi Special Tubes company has fixed the price at ₹550 per share.
What is Gandhi Special Tubes Buyback Offer Size?
Gandhi Special Tubes company Buyback Offer Size is ₹42.16 Cr.
How to apply for Gandhi Special Tubes Buyback 2021?
As per the record date you need to have Gandhi Special Tubes shares in your Demat account. You can participate in buyback after having the stock in your account.
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