Gulf Oil Lubricants India Ltd (GOLIL), a subsidiary of the Hinduja Group, is a well-known name in the Indian lubricants market. Mentioned are the Gulf Oil Lubricants Buyback 2022 Details. At their meeting today, Wednesday, February 09, 2022, the Board of Directors of Gulf Oil Lubricants India Limited (“Company”) approved the proposal to buy back up to 14,16,667 (Fourteen Lacs Six Hundred Sixty Seven) fully paid-up equity shares of the face value of Rs. 2/- (Rupees Two Only) each (“Equity Shares” or “Shares”) at a price of Rs. 600/- (Rupees Six Hundred Only).
Free reserves as of the record date, Monday, March 31, 2021, and is within the 10% limit of paid-up share capital and free reserves (including securities premium account) of the aggregate of fully paid-up equity share capital and free reserves under the board of directors approval route as per the provisions of the Companies Act, 2013 from the equity shareholders of the Company, as on the record date, Monday, March 31, 2021.
Gulf Oil Lubricants Buyback 2022 Details: Opening Date, Closing Date, Buyback Price
|Buyback Type||Tender Offer|
|Buyback Record Date||Feb 21, 2022|
|Offer Opens On||Mar 25, 2022|
|Offer Closes On||Apr 7, 2022|
|Buyback Offer Amount||Rs 85.2 cr. (Approx)|
|Date of Board Meeting approving the proposal||Feb 09, 2022|
|Date of Public Announcement||Feb 09, 2022|
|Buyback Offer Size||85%|
|Buyback Number of Shares||14,16,667 (Approx)|
|Price Type||Tender offer|
|Buyback Price||Rs 600 Per Equity Share (Approx)|
|Face Value||Rs 2 Per Equity Share|
|Last Date for receipt of Tender Forms||Apr 7, 2022|
|Acceptance of the Buyback||Apr 19, 2022|
|Last Date for settlment of bids||Apr 20, 2022|
|Last Date for Extinguishment of Shares||Apr 26, 2022|
About Gulf Oil Lubricants
Gulf Oil Lubricants India Ltd (GOLIL), a subsidiary of the Hinduja Group, is a well-known name in the Indian lubricants market. GOLIL’s parent company, Gulf Oil International (GOI), owns the Gulf brand worldwide (except USA, Spain & Portugal). Previously a subsidiary of Gulf Oil Corporation Limited, GOLIL now has a presence in over 100 countries as part of the parent business GOI.
In terms of brand awareness, buying consideration, and other factors, the ‘Gulf Oil’ brand is among the top three lubricant brands. The company is known for its long history and ties to sports, and Mahendra Singh Dhoni, a current legend, serves as its Brand Ambassador.
Top OEMs and B2B customers such as Ashok Leyland, Mahindra, Swaraj Volvo Penta, MAN, Bharat Benz Whitmore, Schwing Stetter, and Bajaj partnered with Gulf Oil Lubricants. Co-brand oils, authentic oils, and certified oils are just a few of the various go-to-market methods it has pioneered in the automobile industry thanks to these substantial relationships.