Last updated on November 30, 2023
GNFC Buyback 2023 description – Established in 1976, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) stands as a remarkable joint-sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers and Chemicals (GSFC). Strategically located in Bharuch, a thriving industrial region of Gujarat, GNFC operates businesses mainly in Industrial Chemicals and fertilizers apart from the small presence of IT services.
GNFC produces many fertilizers, including urea, ammonium nitro phosphate, calcium ammonium nitrate, and other nitrogenous and phosphatic fertilizers. These fertilizers play a crucial role in promoting agricultural productivity in India.
In addition to fertilizers, Gujarat Narmada Valley Fertilizers and Chemicals is also involved in the production of various chemicals and petrochemicals, such as methanol, formic acid, acetic acid, ethyl acetate, and other chemical intermediates. It has diversified its operations to include various chemical and petrochemical products that serve a range of industries.
GNFC Share Buyback 2023 Details
| GNFC Buyback Dates | 1 – 7 Dec 2023 |
| GNFC Buyback Price | INR 770 per share |
| Market Price on Buyback Approval | INR 691.45 per share |
| Buyback Premium on Market Price | 11.36% |
| Buyback Offer Size (Shares) | 84,78,100 shares |
| Buyback Offer Size (Amount) | INR 652.81 crores |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
GNFC Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 21 October 2023 |
| Buyback Approval Date | 8 November 2023 |
| Public Announcement of Buyback | 10 November 2023 |
| GNFC Buyback Record Date | 24 November 2023 |
| Buyback Opening Date | 1 December 2023 |
| Buyback Closing Date | 7 December 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 7 December 2023 |
| Verification Date by the Registrar | 11 December 2023 |
| Return of unaccepted shares by Registrar | 14 December 2023 |
| Extinguishment of accepted shares | 26 December 2023 |
Gujarat Narmada Valley Fertilizers & Chemicals Buyback 2023 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
GNFC Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 4/51 | 7.84 |
| General category (for all other Eligible Shareholders) | 3/58 | 5.17 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 5,128.69 | 8,642.29 | 10,226.93 |
| Total Expenses | 4,417.61 | 6,553.66 | 8,656.61 |
| Net income | 689.21 | 1,703.75 | 1,463.98 |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 770 |
| Maximum shares for small shareholder (2,00,000/770) | 260 shares * |
| Closing price of stock as on 8 November 2023 | INR 691.45** |
| Maximum amount invested in buyback (INR 691.45 x 260 shares) | INR 1,79,777 |
** For simplicity, we have considered price on buyback approval date
GNFC Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 260 | 21 | 21 (100%) | 1,649.55 | 0.92 |
| 260 | 21 | 42 (200%) | 3,299.1 | 1.84 |
| 260 | 21 | 63 (300%) | 4,948.65 | 2.75 |
Registrar of Gujarat Narmada Valley Fertilizers & Chemicals Buyback 2023
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel:Â +91 40 6716 2222
E-mail:Â [email protected]
Website:Â www.kfintech.com
Manager of Gujarat Narmada Valley Fertilizers & Chemicals Buyback 2023
SBI CAPITAL MARKETS LIMITED
1501, 15th Floor, A & B Wing,
Parinee Crescenzo, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051, Maharashtra
Tel:Â +91 22 4006 9807
E-mail:Â [email protected]
Website:Â www.sbicaps.com
Process to Participate in GNFC Buyback
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stockbroker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Frequently Asked Questions
What are GNFC buyback dates?
GNFC share buyback opens on 1 December 2023 and closes on 7 December 2023.
Which type of buyback is GNFC buyback offer?
GNFC buyback is a tender offer.
What is GNFC buyback price?
GNFC buyback price is INR 770 per share.
What is GNFC buyback record date?
GNFC buyback record date is 24 November 2023.
How to participate in GNFC share buyback?
GNFC share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
