Gulf Oil Lubricants will buyback nearly 14,16,667 shares for about Rs.85 Crore. In a filing to the stock exchanges, Gulf Oil Lubricants said it will buyback percent of the fully paid-up equity shares at a price of Rs.600/- per equity share.
The Board approved the proposal of Gulf Oil Lubricants buyback of fully paid-up equity shares of the face value of Rs.2 each of the Company for an amount not exceeding Rs.85 Crores. Gulf Oil Lubricants Buyback 2022 Size is being 15% of the aggregate of the total paid-up Equity Share capital and free reserves of the Company based on the latest standalone and consolidated audited financial statements of the Company respectively as of March 31, 2021. Gulf Oil Lubricants 2022 price is Rs.600 per Equity Share through the "tender offer" route, on a proportionate basis.
Gulf Oil Lubricants Buyback 2022 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Feb 21, 2022 |
| Buyback Opening Date: | Mar 25, 2022 |
| Buyback Closing Date: | Apr 7, 2022 |
| Buyback Offer Amount: | ₹85 Crore |
| Date of Board Meeting approving the proposal: | Feb 09, 2022 |
| Date of Public Announcement: | Feb 10, 2022 |
| Buyback Offer Size: | 15% |
| Buyback Number of shares: | 14,16,667 |
| Price Type: | Tender Route |
| FV: | Rs.2 |
| Maximum Buyback Price: | ₹600 Per Equity Share |
Details Of Gulf Oil Lubricants Buyback
The Board of Directors of the Gulf Oil Lubricants at its meeting held on Feb 9, 2021, has approved a proposal to buy back up to 14,16,667 Equity Shares of the Company, being 15% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs.85 Cr. for Rs.600 per Equity Share through " Tender Route".
Gulf Oil Lubricants Buyback Important Dates
In this section, we have covered all important dates related to the “Gulf Oil Lubricants Buyback Date”. Dates are updated as they are announced. The most noted dates are the Gulf Oil Lubricants record date and Gulf Oil Lubricants buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Gulf Oil Buyback proposal | Feb 9, 2022 |
| Gulf Oil Buyback Approval date | Feb 9, 2022 |
| Public Announcement of Gulf Oil Buyback | Feb 11, 2022 |
| Gulf Oil Buyback Record Date | Feb 21, 2022 |
| Gulf Oil Buyback opens on/Buyback Opening Date | Mar 25, 2022 |
| Gulf Oil Buyback closes on/Buyback Closing Date | Apr 7, 2022 |
| Cut-off date to receive completed tender forms by Registrar | Apr 7, 2022 |
| Cut-off date for verification by the Registrar | Apr 7, 2022 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
Apr 19, 2022 |
| Last date of settlement of bids on the stock exchange | Apr 20, 2022 |
| Last date to return unaccepted shares by Registrar | Apr 20, 2022 |
| Last date of extinguishment of Equity Shares | Apr 26, 2022 |
How to Participate in Gulf Oil Lubricants buyback?
- Firstly to be eligible for the buyback the investor should have shares of Gulf Oil Lubricants Buyback 2022 in Demat or physical form as on record date [Feb 21, 2022].
- Once you have shares in Demat, you can participate in the buyback process which is opening from [Not Announced] by selling your shares through your broker on NSE or BSE.
- Then on [Not Announced], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Checkout Current Gulf Oil Lubricants Shares market price on NSE and BSE: Gulf Oil Lubricants
Profit from the buyback on the basis of acceptance Ratio:
Buy 421 Shares at CMP of Rs.313 [2,00,000/475=421)| Acceptance Ratio | 33% | 50% | 75% | 100% |
|---|---|---|---|---|
| Amount Invested in Buyback | 1,61,200 | 1,61,200 | 1,61,200 | 1,61,200 |
| No. of Shares buyback | 81 | 124 | 186 | 248 |
| BuyBack Profit | 12,555 | 19,096 | 28,644 | 38,192 |
| Profit | 7.77% | 11.84% | 17.76% | 23.26% |
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About Gulf Oil Lubricants:
With operations primarily in the Automotive and Industrial segments, and a leading presence in the open market through a stellar distributor network, we supply directly to OEMs and other B2B customers (Industries, Infrastructure, Mining & Fleet Customers, State Transport and Government Undertakings).
NECESSITY OF BUYBACK By Gulf Oil Lubricants
The Buyback is being undertaken by the Company after taking into account the strategic and
operational cash needs of the Company in the medium term and thereby returning surplus funds
to the equity shareholders, which are over and above its ordinary capital requirements and in
excess of any current investment plans, in an expedient, effective and cost-efficient manner. The
Buyback is being undertaken for the following reasons:
2.1.1. The Buyback will help the Company to distribute surplus cash to its shareholders holding
EquitySharesbroadlyinproportiontotheirshareholding, thereby, enhancing the overall return to
shareholders;
2.1.2. The Buyback, which is being implemented through the tender offer route as prescribed
under the Buyback Regulations, would involve a reservation of up to 15% of the Buyback
Size for small shareholders. The Company believes that this reservation of up to 15% for
small shareholders would benefit a large number of public shareholders, who would get
classified as “Small Shareholders” as defined in the Buyback Regulations;
2.1.3. The Buyback would help in improving financial ratios like earnings per share and return on
equity, by reducing the equity base of the Company; and
2.1.4. The Buyback gives an option to the Eligible Sellers to either choose to participate in the
Buyback and receive cash in lieu of their Equity Shares which are accepted under the
Buyback or choose not to participate in the Buyback and get a resultant increase in their
percentage shareholding in the Company post the Buyback, without additional investment
as a result of the decrease in the paid-up Equity Share Capital.
Company Contact Information
Gulf Oil Lubricants India Limited
IN Centre, 49/50, 12th Road
M.I.D.C. Andheri (East)
Mumbai-400093
Tel: +91-22-6648 7777
Fax: +91-22-2824 8232Website: www.gulfoilindia.com
Gulf Oil Lubricants Buyback Registrar
KFin Technologies Private Limited
Selenium, Tower B,Plot No- 31 and 32,Financial District,Nanakramguda,Serilingampally, Hyderabad,Rangareddi 500 032 Telangana, India.Tel: +91 40 6716 2222Website: www.kfintech.comContact Person: M Murali KrishnaSEBI Registration No. : INR000000221Email: gulfoil.buyback@kfintech.com
Gulf Oil Lubricants Buyback 2022 FAQs:
When is Gulf Oil Lubricants Record Date?
Gulf Oil Lubricants buyback 2022 record date is Feb 21, 2022.
What is the Gulf Oil Lubricants Buyback Opening Date?
Gulf Oil Lubricants buyback 2022 Opening date is Mar 25, 2022.
What is the Gulf Oil Lubricants Buyback Closing Date?
Gulf Oil Lubricants buyback 2022 Closing date is Apr 7, 2022.
When is Gulf Oil Lubricants Buyback Announcement Date?
Gulf Oil Lubricants buyback 2022 announcement Date is Feb 10, 2022.
What is Gulf Oil Lubricants Buyback Price?
The company has fixed the maximum price of ₹600.
How to apply for Gulf Oil Lubricants Buyback 2022?
As per the record date you need to have Gulf Oil Lubricants shares in your Demat account. You can participate in buyback after having the stock in your account.
