Godawari Power & Ispat Limited Buyback 2023
Godawari Power & Ispat Ltd. (GPIL) a public Ltd. Co., formally Ispat Godawari Ltd (IGL), a pioneer constituent belonging to HIRA Group of Industries, Raipur, C.G. was incorporated in 1999 to set up an integrated steel plant with captive power generation under the guidance of visionary leadership of Mr. B. L. Agrawal, Managing Director, a techno commercial visionary having proven wide experience in commissioning & running of Cement Plant, Sponge Iron Plant etc., backed by a dedicated team of professionally qualified personnel under the stewardship of Board of Directors having expertise in Engineering finance administration GPIL is listed with the National Stock Exchange and Bombay Stock Exchange.
GPIL is a flagship Company of Raipur-based Hira Group of Industries having dominant presence in the long product segment of the Steel industry, mainly into mild steel wire. Today, GPIL is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, Ferro alloys, captive power, wires rods (through subsidiary company), steel wires, Oxygen gas, fly ash brick and last but not the least iron ore pellets. GPIL is also awarded rights for Iron Ore Mining for captive consumption, as a result of which, the company has managed to traverse the entire value chain (raw material to final product) in steel wires and has now become a fully integrated steel manufacturer.
Buy Back Offer Deal:
Buyback Type: | Tender Offer |
Buyback Record Date: | Mar 31 2023 |
Buyback Offer Amount: | ₹ 250 Cr |
Date of Board Meeting approving the proposal: | Mar 18 2023 |
Date of Public Announcement: | Mar 18 2023 |
Buyback Offer Size: | 3.66% |
Buyback Number of Shares: | 50,00,000 |
Price Type: | Tender Offer |
FV: | 5 |
Buyback Price: | ₹ 500 Per Equity Share |
Details of Buyback:
Salient financial parameters:
Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
Sales + | 2,506 | 3,294 | 3,270 | 3,949 | 5,397 |
Expenses + | 1,909 | 2,505 | 2,646 | 2,812 | 3,529 |
Operating Profit | 597 | 790 | 624 | 1,137 | 1,868 |
OPM % | 24% | 24% | 19% | 29% | 35% |
Other Income + | 6 | 9 | -3 | 48 | 175 |
Interest | 263 | 253 | 212 | 115 | 20 |
Depreciation | 132 | 133 | 137 | 109 | 105 |
Profit before tax | 208 | 414 | 273 | 962 | 1,918 |
Tax % | -3% | 37% | 35% | 32% | 24% |
Net Profit | 215 | 261 | 177 | 655 | 1,467 |
EPS in Rs | 14.73 | 17.88 | 11.83 | 45.28 | 104.06 |
Dividend Payout % | 0% | 0% | 0% | 10% | 12% |
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 | 1,54,800 | 1,54,800 | 1,54,800 | 1,54,800 |
No. of Shares Buyback | 132 | 200 | 300 | 400 |
Buyback Profit | 14,916 | 22,600 | 33,900 | 45,200 |
Profit % | 9.63% | 14.59% | 21.89% | 29.19% |
20 Comments
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A large fall seen in the share, Why not much clear ?? But the Buyback record date is not very far… This share can definitely surprise with higher AR of 30-40%…
Bought 300@ 356.75 Would add further at 348…
Could you pls explain why do you expect AR of 35-40%?
Hi Mayank, thre is no scientific reason or mathematical formula for 35-40% AR , but considering the fall in this share and overall market, it is not expected that specific small shareholders would have added this share for buyback. Also the General buzz is not much in the market. As per previous experience, with 8-9% ER, such shares have AR 4 to 5 times ER and some times even much higher.
It is pure guestimate with previous experience. Please take your decision as per your study.
bought 400 share on 29-03-23 eligible for buyback
https://www.livemint.com/market/stock-market-news/godawari-power-announces-share-buyback-of-rs-250-cr-premium-is-up-28-11679240904496.html
Jagran buyback was not published? seems 100% were accepted
https://www.bseindia.com/xml-data/corpfiling/AttachHis/ae5566e6-7cb5-4c9f-b3ab-83810ee2aeba.pdf
from the quantity , seems high buyback %ge
Buyback announced
Price : 500rs
Size : 50,00,000 shares
Amt : 250cr
Tender route.
Record date : 31st March.
What is Expected Entitlement Ratio on the basis of friday small investors number?
Brother As Discloser submitted “share holding pattern” as on DEC 2022 by company
Total Small share holder are 85673
3 percent around
Approximately ER 5-8%.
How did you calculated 5-8%?
As per share holding pattern of retailers. &
And previous experience
GPIL
Buyback Price : 500/- Per Share
Buyback Size ₹ : 250 Crore
Buyback Size in Shares : 50,00,000 Shares
Record Date : Friday, 31 March
Godawari Power and Ispat Ltd
Tender route buyback
At 500 per share
50 lakh shares
250 cr
31 march Record dt
Just announced
Godawari Buyback Intimation on 18.03.2023
https://www.bseindia.com/xml-data/corpfiling/AttachLive/9ccd2cdb-ba0d-4e33-835b-1049ea7e1f5b.pdf
Has this company done a buyback in history? Was it tender or open market?
Tender or open will be decided in meeting of 18.03.23
Price will be also finalized on 18th March. Wait for 24 hrs
Thank you for the reply sir.
Actually, I wanted to know if there is any history of this company doing buybacks.
As per share holding pattern looks like it comes Tender route buyback. Lets see today