About Gandhi Special Tubes Limited:
Gandhi Special Tubes Ltd. delivers innovative and reliable tubular solutions to a diverse range of industries & niche markets in core sectors such as automotive, tractors, earthmovers, hydraulics, and general engineering. From its humble beginnings in India, Gandhi Special Tubes Ltd has expanded its presence across Asia, North America, and Europe as well.
With a reputation for integrity, innovation & quality, Gandhi remains the undisputed market leader in Cold Drawn Seamless Tubes in India. The Group continues to strive for excellence with its differentiated product mix, state-of-the-art German technology, excellence in execution, and focus on sustainability.
Built on world-class manufacturing and engineering infrastructure in India, Gandhi Special Tubes Ltd. is recognized globally as one of the most trusted names in the manufacturing of customized tubular solutions.
NECESSITY OF BUYBACK By Gandhi Special Tubes Limited
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by a reduction in the equity base, thereby leading to a long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in place of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis per the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.