Gulf Oil Buyback opens on March 25th and closes on April 07 2022.
Gulf Oil Lubricants Buyback 2022
Gulf Oil Lubricants India Ltd (GOLIL), part of the Hinduja Group, is an established player in the Indian Lubricants Industry. Gulf Oil International (GOI), parent of GOLIL, owns the Gulf brand globally (except USA, Spain & Portugal). Previously a part of Gulf Oil Corporation Limited, today, GOLIL, as part of the parent company GOI, enjoys a presence in over a 100 countries.
The ‘Gulf Oil’ brand enjoys a position among the Top 3 lubricant brands with regards to brand awareness, purchase consideration and other parameters. The brand is known for its rich history and association with the world of sports, and they are proud to have the modern legend, Mahendra Singh Dhoni as their Brand Ambassador.
Gulf Oil Lubricants collaborated with Top OEM’s and B2B customers like Ashok Leyland, Mahindra, Swaraj Volvo Penta, MAN, Bharat Benz Whitmore, Schwing Stetter and Bajaj. These significant partnerships have helped it adapt and pioneer many go-to-market models in the automotive industry like co-brand oils, genuine oils and approved oils.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Feb 21 2022|
|Buyback Opening Date:||Mar 25 2022|
|Buyback Closing Date:||Apr 07 2022|
|Buyback Offer Amount:||₹ 85.2 cr|
|Date of Board Meeting approving the proposal:||Feb 09 2022|
|Date of Public Announcement:||Feb 09 2022|
|Buyback Offer Size:||85%|
|Buyback Number of Shares:||14,16,667|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 600 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Profit before tax||116||153||181||243||275||265||269|
|EPS in Rs||15.62||20.24||23.69||31.90||35.70||40.42||39.77|
|Dividend Payout %||35%||35%||36%||33%||32%||35%||40%|
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,64,502||1,64,502||1,64,502||1,64,502|
|No. of Shares buyback||109||166||249||333|
Is there any update regarding acceptance ratio and credit of cash to bank?
92/360. AR is around 25.5%
Any information regarding the Acceptance Ratio in general category, if shared, will be appreciated. Thank you.
Dear SRK ji
Important point: Promoters having 71% equity would apply for only 11 L Shares i.e. 2.18% shares only. So condition similar to Nucleus, where small share holder may have small acceptance of 10-25% and other than small share holders would have 20-40%.
Still, I feel like missing bus, as rate have appreciated from 485 to 512 and considering current market it may be possible that ultimately the return shares give more loss than gain in Buyback…
I may buy more than 2L but at less than 500 only///
Lets see, if it would be with me till 17th Feb, last day to buy for buyback
I am really indebted n grateful to you for your valuable guidance from time to time. I am learning a lot from your experience n expertise. Thank you once again for your kindhearted response to help me to learn more.
Please check my analysis:
Retail quota Total Retail share capital (less than 2 Lac holding) Min ER =Retail quota/total retail shareholders (if all participate)
212.500 5.532.461 4%
Non Retail shares (total buyback-retail quota) Total Non Retail share capital ER – Non Retail (if all participate)
1.204.167 9.774.588 12%
It is not same as Nucleus. for Nucleus it was 44% and not 12%
Arbitrage is 15%
Sir with what I understand from your analysis is that The Acceptance Rate under Retail is going to be very low. Do you feel we can expect 20-25% from General ? ’cause lower than that the margin of safety isn’t there at 515 CMP. Please advise.
Total 360 shares purchased. May be missing by 25 shares, as the order is not completely executed, to be considered under the General Category AR in General Category is likely to be more than that of the Retail Category as you mentioned. Thank you for your kind guidance.
Full stop missed between “ General Category “ n “AR”. Extremely sorry for the inconvenience caused.
And i can also compare to Mayur. Promoters stocks who are willing to participate is 1.254.869
Similar analysis gave me ER of 1% for retail, and around 10% for general (of all are willing to participate). I practice it will be more.
And current arbitrage is 35%
So from General category POV, should we not go for Mayur, instead of Gulf?
Sir you would have done the same calculation for TCS. What came out there ? AR would be better in retail of General ? Please advise.
Retail should be better for TCS.
Mr.Jain with what I understand from your analysis is that The Acceptance Rate under Retail is going to be very low. You’ve stated that AR in general could be between 20%-40%. Do you feel this is good enough margin of safety @515 CMP. Please advise.
Your analysis looks OK except for likely acceptance in Reserved share holder category. I feel even the Entitlement ratio may be more than 30%.
Gulf lubricant IPO is not visible in Buback list. Kindly check.
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