15-Nov-2023
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Gujarat Narmada Valley Fertilizers & Chemicals Limited has got final approval from its board to propose a buyback offer of 8,478,100 equity shares (representing 5.46% of the total number of equity shares in the paid-up share capital of the Company) through the tender offer route. The buyback amount is Rs 652.81 Crores and the buyback price is Rs 770 per equity share.
Gujarat Narmada Valley Fertilizers & Chemicals Limited Company’s Profile
Established in 1976 and headquartered in Bharuch, Gujarat, India, Gujarat Narmada Valley Fertilizers and Chemicals Ltd. (GNFC) is a public sector company with a primary focus on the production of fertilizers and chemicals.
GNFC takes pride in its extensive fertilizer production, which includes urea, ammonium nitro phosphate, calcium ammonium nitrate, and various nitrogenous and phosphatic fertilizers, playing a crucial role in boosting agricultural productivity in India.
Going beyond fertilizers, GNFC expands its operations to cater to a wide range of industries. The company diversifies its product base by producing various chemicals, such as:
- Ethyl acetate,
- Methanol,
- Formic acid,
- Acetic acid, and
- Other petrochemicals.
Additionally, GNFC is actively involved in social and community development initiatives in the regions where it conducts its operations. The company actively promotes energy-efficient and eco-friendly practices within the chemical and fertilizer industry. It is also acknowledged for its dedication to CSR (corporate social responsibility) and sustainable development activities.
Important Details for Gujarat Narmada Valley Fertilizers & Chemicals Limited Buyback 2023
| Issue Period | Yet to be announced |
| Last Date to buy shares | 23-Nov-23 |
| Record Date | 24-Nov-23 |
| Security Name | Gujarat Narmada Valley Fertilizers & Chemicals Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 8,478,100 |
| Issue Size (Amount) | Rs 652.81 Crores |
| Buyback Price | Rs 770 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE, NSE |
Lead managers for Gujarat Narmada Valley Fertilizers & Chemicals Limited Buyback
The Lead manager of the Gujarat Narmada Valley Fertilizers & Chemicals Limited Buyback is SBI Capital Markets Limited.
Registrar of the Gujarat Narmada Valley Fertilizers & Chemicals Limited Buyback
Registrar of the Gujarat Narmada Valley Fertilizers & Chemicals Limited Buyback is Kfin Technologies Limited.
Gujarat Narmada Valley Fertilizers & Chemicals Limited Financial Information (Consolidated Rs in Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 11,695.53 | 10,734.39 | 8,384.81 |
| Revenue | 10,588.16 | 8,851.71 | 5,365.92 |
| Profit After Tax | 1,471.54 | 1,710.41 | 689.21 |
| Reserves and Surplus | 8,949.69 | 7,834.61 | 5,912.78 |
FAQs
- What is the buyback price per share?
The buyback price per equity share is Rs 770.
- How many shares are being purchased in the buyback?
Gujarat Narmada Valley Fertilizers & Chemicals Limited will buy back 8,478,100 equity shares, which represents 5.46% of the total number of equity shares in the company’s paid-up share capital.
- How much is the total amount allocated for the buyback?
The total buyback amount is Rs 652.81 Crores.
- How will the buyback process take place?
The buyback will be conducted through the tender offer route. Shareholders who wish to participate can tender (offer) their shares at the buyback price of Rs 770 per share.
- What is the face value of Gujarat Narmada Valley Fertilizers & Chemicals Limited’s shares?
The face value of the company’s shares is Rs 10 per share.
- Is it mandatory for shareholders to participate in the buyback?
No, participation in the buyback is entirely voluntary. Shareholders can choose whether or not to tender their shares in the buyback offer.