Gandhi Special Tubes Limited Buyback 2021
Gandhi Group is producing auto parts since 1959. The items are advertised all over India and are likewise traded everywhere in the world including Germany, UK, South East Asian nations, and so forth
Gandhi Special Tubes Ltd. some time ago known as GANDHI SPECIAL 07 TUBES LTD. was a venture set up by Gandhi Group. The task was for assembling little measurement welded and cold drawn consistent steel tubes. All the basic hardware was imported from Germany. The plant arranged at Gujarat, begun business creation in April 1988.
Various products of the company are
(i) Cold Drawn Bright Annealed Seamless Tubes
(ii) Precision Electric Resistance Welded Tubes
(iii) Cold-Formed Coupling Nuts
(iv) High Pressure Diesel Fuel Injection Tubes
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Aug 31 2021 |
| Buyback Opening Date: | Sep 21 2021 |
| Buyback Closing Date: | Oct 04 2021 |
| Buyback Offer Amount: | ₹ 42.20 Cr |
| Date of Board Meeting approving the proposal: | Jun 22 2021 |
| Date of Public Announcement: | Jun 22 2021 |
| Buyback Offer Size: | 5.96% |
| Buyback Number of Shares: | 7,66,616 |
| Price Type: | Tender Offer |
| FV: | 5 |
| Buyback Price: | ₹ 550 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars (in Cr) | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 | Mar-21 |
| Sales | 91 | 98 | 114 | 123 | 81 | 114 |
| Expenses | 64 | 65 | 73 | 77 | 57 | 69 |
| Operating Profit | 27 | 33 | 41 | 46 | 24 | 45 |
| OPM % | 30% | 34% | 36% | 37% | 30% | 39% |
| Other Income | 3 | 10 | 8 | 8 | 6 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 4 | 4 | 4 | 4 | 3 |
| Profit before tax | 25 | 38 | 45 | 50 | 26 | 48 |
| Tax % | 26% | 19% | 26% | 22% | 18% | 24% |
| Net Profit | 19 | 31 | 34 | 39 | 21 | 36 |
| EPS in Rs | 12.62 | 20.96 | 24.29 | 27.96 | 16.54 | 27.98 |
| Dividend Payout % | 59% | 43% | 37% | 32% | 54% | 32% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,52,460 | 1,52,460 | 1,52,460 | 1,52,460 |
| No. of Shares buyback | 120 | 182 | 272 | 363 |
| BuyBack Profit | 15,573 | 23,595 | 35,393 | 47,190 |
| Profit | 10.21% | 15.48% | 23.21% | 30.95% |
Recommendation:
29 Comments
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Expecting a reasonably good AR, to be known tomorrow, regarding the buyback of the shares of Gandhi Special Tubes. Already enjoying the fruits of good profit in the shares of R Systems. Good luck to all. Thank you.
AR is around 33.4%. Not that much bad.
Period of buyback: 21/9/21 to 04/10/21. Happy investing to all.
October 13th is the last day for settlement of the bids for buyback of the shares of Gandhi special tubes. Thank you.
ER is 1:8 i.e., for every 8 shares held on record date by the retail investors 1 share is entitled for buyback. AR will be around 25% to 40% . If the share price increases during the period of buyback, AR may increase even upto 100% in case the market price reaches or exceeds the price of the buyback.
The resultant amount of Rs. 75350/- regarding the buyback of the accepted shares of 137 of Gandhi Special Tubes Limited is yet to be credited. Registrar as well as my booking agent have been mailed yesterday with all the required information. Waiting for the reply from them.
After vigorous pursuance with the registrar Kfin technologies and the broking agent icici securities simultaneously with out giving them the breathing time, the amount got credited to my account.
Retail investor . AR is less
Vasanth ji,
At the time of sending offer letter, ER ( Entitled Rate / Ratio ) only will be mentioned. AR ( Acceptance Rate / Ratio ) is the final acceptance rate/ ratio of the shares rendered for buyback. I think you have understood the difference. Good night.
A separate page for RISHIROOP buyback is to be open.
Record date for buyback of shares of Gandhi special tubes is 31/8/2021 please.
There is a board meeting on Friday to consider Buyback of Star cement
Star cement buyback record date 25 Aug 21
By tender process @150
Request to administer for a separate page for Star cement.
Anurag sir,
thank you very much for your kind update.
Umesh ji,
Why it is taking so much time to announce the dates? Any problem? Please enlighten. Thank you very much in anticipation of your prompt response.
27 August is the record date for both – R system and Gandhi Tube
Sir, thank you very much for your kindness in sharing the information.
Anurag ji,
Record date in respect of Gandhi special tubes is 31/8/2021.
Tanla platform Buyback @1260 but through open market
Gandhi Special Tube 2019 Buyback
1. Price on date of announcement of buyback (28.05.2019) = 407
2. Buyback price and Buyback size = 49 Cr and 550.
2. Price on record date (16.08.2019) = 312
3. Entitlement = 12% for Retail and 6% for General
4. Buyback open and closing date = 25.09.2019 to 10.010.2019
5. Price at the closing of buyback = 309
6. Final Acceptance ratio = 29% in Retail and 18% in General.
Umesh ji,
What is your expected AR this time?
25% in Retail
Sir, thank you very much for your prompt response .
Tanla platform Buyback @ 1260 but through open market
What about Tanla platform Buyback
Gandhi Special Tubes Buyback has not announced the record date.
Gandhi Special Tubes Buyback has also announced Rs.9 per share of dividend.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/ccff8e9e-f652-4241-ac31-27b2f66e7487.pdf
Small size buyback. Plus promoters are also participating.