GAIL (India) Limited will buyback nearly 5,69,85,463 shares for about Rs.1082 Crore. In a filing to the stock exchanges, GAIL (India) Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.190/- per equity share.
The Board approved the proposal of GAIL (India) Limited buyback of fully paid-up equity shares of the face value of Rs.10 each of the Company for an amount not exceeding Rs.1082 Crores. GAIL (India) Limited 2022 Size is being 1.28% 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. GAIL (India) Limited 2022 price is Rs.190 per Equity Share through the "tender offer" route, on a proportionate basis.
GAIL (India) Limited Buyback 2022 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Apr 22, 2022 |
| Buyback Opening Date: | May 24, 2022 |
| Buyback Closing Date: | June 07, 2022 |
| Buyback Offer Amount: | ₹1082 Crore |
| Date of Board Meeting approving the proposal: | Mar 31, 2022 |
| Date of Public Announcement: | April 01, 2022 |
| Buyback Offer Size: | 1.28% |
| Buyback Number of shares: | 5,69,85,463 |
| Price Type: | Tender Route |
| FV: | Rs.10 |
| Maximum Buyback Price: | ₹190 Per Equity Share |
Details Of GAIL (India) Limited Buyback
Gail Board has approved the buyback of 5,69,85,463 fully paid-up equity shares of the face value of Rs, 10 each at a price of Rs. 190 per equity share (the "Buy Back Offer Price") payable in cash for an aggregate consideration not exceeding Rs. 1082 Crores (the "Buyback Offer Size") representing 2.50% and 2.22% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone and consolidated financial statements of the Company, respectively, for the financial year ended March 31, 2021, on a proportionate basis through a Tender Offer route.
GAIL (India) Limited Buyback Important Dates
In this section, we have covered all important dates related to the “GAIL (India) Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are the GAIL (India) Limited record date and GAIL (India) Limited buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Gulf Oil Buyback proposal | Mar 31, 2022 |
| Gulf Oil Buyback Approval date | Mar 31, 2022 |
| Public Announcement of Gulf Oil Buyback | Apr 01, 2022 |
| Gulf Oil Buyback Record Date | Apr 22, 2022 |
| Gulf Oil Buyback opens on/Buyback Opening Date | May 25, 2022 |
| Gulf Oil Buyback closes on/Buyback Closing Date | June 07, 2022 |
| Cut-off date to receive completed tender forms by Registrar | June 09, 2022 |
| Cut-off date for verification by the Registrar | June 14, 2022 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
June 15, 2022 |
| Last date of settlement of bids on the stock exchange | June 16, 2022 |
| Last date to return unaccepted shares by Registrar | June 16, 2022 |
| Last date of extinguishment of Equity Shares | June 23, 2022 |
How to Participate in GAIL (India) Limited 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 the record date [Apr 22, 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 GAIL (India) Limited Shares market price on NSE and BSE: GAIL (India) Limited
Profit from the buyback on the basis of acceptance Ratio:
Buy 1052 Shares at CMP of Rs.155| Acceptance Ratio | 33% | 50% | 75% | 100% |
|---|---|---|---|---|
| Amount Invested in Buyback | 163157 | 163157 | 163157 | 163157 |
| No. of Shares buyback | 347 | 526 | 789 | 1052 |
| BuyBack Profit | 12145 | 18410 | 27615 | 36820 |
| Profit | 7.44% | 11.2% | 17% | 22.5% |
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About GAIL (India) Limited:
The Company was incorporated on the 16th of August. The Gas Authority of India Ltd. (GAIL), one of India’s leading Public Sector Enterprises, is the largest gas transmission and marketing company in the Country. The Company, possessing a well developed and efficient infrastructure, was established as a wholly-owned Company of the Government of India in August 1984 with 100% equity held by the Government of India and, within a short time, it has grown into one of the ‘Navratna’ enterprises and is ranked among the top ten companies in India. The various activities of the Company range from Gas marketing and distribution through the trunk and regional systems, to retailing of Natural Gas to Gas processing for the production and marketing of LPG, liquid hydrocarbons, and Petrochemicals.
The equity pattern in the Company has also changed and the Government today holds about 67% of the equity in the Company.
GAIL has formed Subsidiaries and Joint Venture companies for City Gas Distribution and Petrochemicals. GAIL is one of the pioneers to introduce City Gas Projects in India for gas supplies to households, commercial users, and the transport sector by forming Subsidiaries/ Joint Venture Companies.
NECESSITY OF BUYBACK By GAIL (India) Limited
The Buyback would help in optimizing the capital structure and improving return on equity, by a reduction in the equity base, thereby leading to a long-term increase in shareholders’ value. Further, the Buyback, which is being implemented through the Tender Offer route as prescribed under the Buyback Regulations, would involve the allocation of a higher number of shares as per their entitlement or 15.00% of the number of shares to be bought back, reserved for the small shareholders. The Company believes that this reservation of 15.00% for small shareholders would benefit a large number of public shareholders, who would get classified as small shareholders.
Company Contact Information
GAIL (India) Limited
16, Bhikaiji Cama Place,
R.K. Puram,
New Delhi – 110 066Ph: 011-26172580, 26182955
Fax: 011-26185941For Retail Investors
Shri A.K.Jha, (Company Secretary)
Email-id: ak.jha2@gail.co.in, shareholders@gail.co.in
GAIL (India) Limited Buyback Registrar
MCS SHARE TRANSFER AGENT LIMITED
Unit: GAIL (India) Limited
F-65, Okhla Industrial Area
Phase – I
New Delhi – 110 020
Ph: 011-41406149/50/51/52
Fax: 011-41709881
Website: www.mcsregistrars.com
Email-id: admin@mcsregistrars.com
GAIL (India) Limited Buyback 2022 FAQs:
When is GAIL (India) Limited Record Date?
GAIL (India) Limited buyback 2022 record date is Apr 22, 2022.
What is the GAIL (India) Limited Buyback Opening Date?
GAIL (India) Limited buyback 2022 Opening date is May 25, 2022.
What is the GAIL (India) Limited Buyback Closing Date?
GAIL (India) Limited buyback 2022 Closing date is June 07, 2022.
When is GAIL (India) Limited Buyback Announcement Date?
GAIL (India) Limited buyback 2022 announcement Date is Mar 31, 2022.
What is GAIL (India) Limited Buyback Price?
The company has fixed the maximum price of ₹190.
How to apply for GAIL (India) Limited Buyback 2022?
As per the record date you need to have GAIL (India) Limited shares in your Demat account. You can participate in buyback after having the stock in your account.
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