Godawari Power & Ispat Ltd fixes June 28, 2024 as record date for buyback

The Board of Directors of the Godawari Power & Ispat Limited ("Company") (the Board of Directors hereinafter referred to as the "Board", which expression shall include any Committee constituted and authorized by the Board to exercise its powers) at its meeting held on June 15, 2024 ("Board Meeting") had, subject to approvals of statutory, regulatory or governmental authorities as may be required under applicable laws, approved the Buyback of up to 21,50,000 (Twenty One Lakh Fifty Thousand) fully paid-up equity shares having face value of <5 (Rupees Five only) each ("Maximum Buyback Shares"), representing up to 1.64% of the total number of Equity Shares in the paid-up equity share capital of the Company as on March 31, 2024 (excluding 45,00,000 equity shares held by Trust in Treasury) at a price of Rs. 1400 (Rupees One Thousand Four Hundred only) per Equity Share ("Buyback Price"), payable in cash, for an aggregate amount not exceeding Rs. 301.00 Crores (Rupees Three Hundred and One Crore only) ("Buyback Size"), representing 7.00% and 6.66% of the aggregate of the total paid up equity share capital and free reserves of the Company (including Securities Premium Account) based on the audited standalone financial statements and audited consolidated financial statements of the Company as on March 31, 2024.

The Buyback is proposed to be undertaken from equity shareholders / beneficial owners of the Company as on Friday, June 28, 2024 ("Record Date"), on a proportionate basis through the Tender Offer route using stock exchange mechanism.

Source : Equity Bulls

Keywords

GodawariPowerandIspat GPIL Buyback RecordDate