Gulf Oil Lubricants Buyback 2022 Details: Opening Date, Closing Date, Buyback Price

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
Gulf Oil Lubricants Buyback IPO 2022

Gulf Oil Lubricants Buyback 2022 Details: Opening Date, Closing Date, Buyback Price

Buyback TypeTender Offer
Buyback Record DateFeb 21, 2022
Offer Opens OnMar 25, 2022
Offer Closes OnApr 7, 2022
Buyback Offer AmountRs 85.2 cr. (Approx)
Date of Board Meeting approving the proposalFeb 09, 2022
Date of Public AnnouncementFeb 09, 2022
Buyback Offer Size85%
Buyback Number of Shares14,16,667 (Approx)
Price TypeTender offer
Buyback PriceRs 600 Per Equity Share (Approx)
Face ValueRs 2 Per Equity Share
Last Date for receipt of Tender FormsApr 7, 2022
Acceptance of the BuybackApr 19, 2022
Last Date for settlment of bidsApr 20, 2022
Last Date for Extinguishment of SharesApr 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.

Gulf Oil Lubricants Buyback IPO FAQs

When will the Gulf Oil Lubricants Buyback offer on February 22 become available?

The open and close dates for the Gulf Oil Lubricants Buyback on February 22 are currently unavailable.

What is the schedule for Gulf Oil Lubricants Buyback activities?

The Gulf Oil Lubricants Buyback timescales are currently unavailable.

What is the buyback offer price for Gulf Oil Lubricants?

Gulf Oil Lubricants is offering a buyback of its equity shares at Rs 600 per share.

How big is the Gulf Oil Lubricants Buyback issue?

Gulf Oil Lubricants is buying back 0.14 crore equity shares at a price of 600 rupees each, for a total of Rs 85.00 crores.

How can you become involved in the Gulf Oil Lubricants Buyback?

Through their Stock Broker, any eligible Shareholders of the Company owning either Physical Shares or Demat Shares as of the Record Date can participate in the repurchase offer.

The eligible shareholder must advise their broker of the information of the Equity shares they desire to tender in the Buyback Offer if they hold the shares in Demat form. 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.

Original share certificates and supporting paperwork must be presented to the qualifying shareholder who has the shares in physical form. The broker executes an order on the stock market when document verification is completed, and the registrar receives the original share certificate and TRS.

When it comes to Demat shares, the tender form and TRS are optional, but when it comes to physical shares, they are required.

What is the purpose of the Gulf Oil Lubricants Buyback Program?

  1. Surplus funds will be distributed in proportion to the number of equity shares held by shareholders.
  2. By decreasing the company’s equity base, financial measures such as profits per share and return on equity can be improved.

What is the record date for Gulf Oil Lubricants Buyback offer?

The deadline for submitting a bid for the Gulf Oil Lubricants Buyback is February 21, 2022.