Godawari Power Buyback Record Date is finalized.Â
Godawari Power & Ispat is mainly engaged in the business of mining iron ore and manufacturing iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire, and ferroalloys with the generation of electricity. GPIL is a flagship company of the Raipur-based Hira Group of industries having a dominant presence in the long product segment of the steel industry, mainly in mild steel wire. Currently, the company is a comprehensive manufacturer of mild steel wires, producing sponge iron, billets, Ferro alloys, captive power, wire rods (via a subsidiary company), steel wires, Oxygen gas, fly ash bricks, and pallets.
The company holds rights for Iron Ore and Coal Mining for captive consumption, enabling it to cover the entire value chain from raw materials to the final product. The company surpassed the INR 1000 crore turnover milestone. The consolidated net profit after tax surged by 82% to INR 99 crore compared to INR 54 crore in the previous year.
Godawari Power Buyback Record Date, Other Details
| Godawari Power Buyback Dates | 4 – 10 July 2024 |
| Godawari Power Buyback Price | INR 1,400 per shere |
| Market Price on Buyback Approval | INR 1,078.20 per share |
| Buyback Premium on Market Price | 29.85% |
| Buyback Offer Size (Shares) | 21,50,000 shares |
| Buyback Offer Size (Amount) | INR 301 crore |
| Offer Type | Tender Offer |
| Promoter Participation | Yes |
| Face Value | INR 5 per share |
| Listing At | BSE, NSE |
Godawari Power Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 8 June 2024 |
| Buyback Approval Date | 15 June 2024 |
| Public Announcement of Buyback | 19 June 2024 |
| Godawari Power Buyback Record Date | 28 June 2024 |
| Buyback Opening Date | 4 July 2024 |
| Buyback Closing Date | 10 July 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 10 July 2024 |
| Verification Date by the Registrar | 12 July 2024 |
| Return of unaccepted shares by Registrar | 18 July 2024 |
| Extinguishment of accepted shares | 29 July 2024 |
Godawari Power Buyback 2024 Documents
Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Godawari Power Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 5/56 | 8.93 |
| General category (for all other Eligible Shareholders) | 11/729 | 1.51 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Godawari Power Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 5,399.18 | 5,753.04 | 5,455.35 |
| Total Expenses | 3,535.00 | 4,589.32 | 4,127.29 |
| Net income | 1,467.31 | 793.36 | 935.59 |
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 1,400 |
| Maximum shares for small shareholders (2,00,000/1,400) | 143 shares * |
| Closing price of stock as of 15 June 2024 | INR 1,078.20** |
| Maximum amount invested in buyback (INR 1,078.20 x 143 shares) | INR 1,54,182.6 |
** For simplicity, we have considered the price on the buyback approval date
Godawari Power Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 143 | 13 | 13 (100%) | 4,183.4 | 2.71 |
| 143 | 13 | 26 (200%) | 8,366.8 | 5.43 |
| 143 | 13 | 39 (300%) | 12,550.2 | 8.14 |
Registrar of Godawari Power Buyback 2024
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â +918108114949
Email:Â [email protected]
Website: www.linkintime.co.in
Manager of Godawari Power Buyback 2024
Mark Corporate Advisors Private Limited
404/1, The Summit Business Bay,
(Service Lane, Sant Janabai Rd,
off Western Express Highway,
Vile Parle East, Mumbai, Maharashtra 400057
Tel:Â +91 22 2612 3207/08
Email:Â [email protected]
Website:Â www.markcorporateadvisors.com
Process to Participate in Godawari Power 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 Godawari Power buyback dates?
Godawari Power share buyback opens on 4 July 2024 and closes on 10 July 2024.
Which type of buyback is Godawari Power’s buyback offer?
Godawari Power buyback is a tender offer.
What is Godawari Power’s buyback price?
Godawari Power’s buyback price is INR 1,400 per share.
What is Godawari Power’s buyback record date?
Godawari Power buyback record date is 28 June 2024.
How to participate in Godawari Power share buyback?
Godawari Power share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
