Announcements

The GAIL (Gas Authority of India Ltd.) buy-back offer of Rs. 150 per share goes live on 25th February 2021 and you can apply for it before 10th March 2021.

Read on to know what this means and how you can apply for it quickly and easily -

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, click here.

What does this offer mean for GAIL shareholders?
Existing shareholders holding GAIL shares as of 28th January 2021 (which is the Record date) can sell their shares back to GAIL for Rs. 150 per share by applying to their buy-back offer on or before 3 PM on 10th March 2021.

How to apply for a buy-back?
Just follow these steps:

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” at the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via e-DIS to proceed.

When can you apply?

Apply for this buy-back on or before 10th March 2021.

To know more about the application procedure, read the circular here.

What to keep in mind while applying?

1. You can only apply for this buy-back if you hold shares of GAIL in your Demat account as of 28th January 2021.
2. After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.
3. You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.
4. You will receive the buy-back amount for the shares from GAIL / Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
5. A total of 6,97,56,641 shares will be accepted by GAIL for the buyback and the remaining shares not accepted by GAIL will be returned back to shareholders in their Demat account. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buyback.

That’s all about the GAIL buy-back, stay tuned for more buy-back updates from Upstox!