Him Teknoforge Limited (HTL) alongwith Globe Precision Industries Private Ltd. (GPIPL) & Others to acquire BSE Listed Gujarat Automotive Gears Ltd.(GAGL)
As per BSE announcement -
SMC Capitals Ltd ("Manager to the Open Offer") has submitted to BSE a Copy of Public Annonucement ("PA") reagrding Open offer (“Offer”) for acquisition of up to 91,000 fully paid-up equity shares of Rs. 10/- each (“Equity Shares”) of Gujarat Automotive Gears Ltd (“Target Company”) from the public shareholders of the Target Company by Him Teknoforge Limited alongwith Globe Precision Industries Private Ltd., Mr. Vinod Aggarwal and Mrs. Asha Aggarwal (“Acquirers”), pursuant to and in compliance with, amongst others, regulation 3(1) and regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SAST Regulations”).
Offer Price: The Offer price of Rs. 1137 (Rupees One Thousand One Hundred Thirty Seven Only) per fully paid-up Equity Share is calculated in accordance with regulation 8(2) of the SAST Regulations (“Offer Price”), aggregating to a consideration of up to Rs. 1034.67 lacs, assuming full acceptance in the open offer.
Source: bseindia.com
Current financials of GAGL:
Current Shareholding pattern of GAGL (Pre-Acquisition):
Sole Advisor: Not Known (Will be updated soon)
About HIM Teknoforge Ltd.
Him Teknoforge Ltd, is the flagship company of Him Group. Chandigarh based Group is into production of forgings and finished components for automotive and engineering applications.
About HIM Globe Precision Industries Private Limited (GPIPL)
Globe Precision Industries Private Limited (GPIPL) is engaged in the manufacturing of axles, gears and shafts for tractors and other automotive applications. The company was incorporated in 1986. The company has two manufacturing units in Baddi and Pant Nagar Rudrapur (HIMachal Pradesh), where the company uses forging products as raw material and manufactures automotive components using processes like turning, hobbing, rounding chamfering, cylindrical and bore grinding.
As per BSE announcement -
SMC Capitals Ltd ("Manager to the Open Offer") has submitted to BSE a Copy of Public Annonucement ("PA") reagrding Open offer (“Offer”) for acquisition of up to 91,000 fully paid-up equity shares of Rs. 10/- each (“Equity Shares”) of Gujarat Automotive Gears Ltd (“Target Company”) from the public shareholders of the Target Company by Him Teknoforge Limited alongwith Globe Precision Industries Private Ltd., Mr. Vinod Aggarwal and Mrs. Asha Aggarwal (“Acquirers”), pursuant to and in compliance with, amongst others, regulation 3(1) and regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SAST Regulations”).
Offer Price: The Offer price of Rs. 1137 (Rupees One Thousand One Hundred Thirty Seven Only) per fully paid-up Equity Share is calculated in accordance with regulation 8(2) of the SAST Regulations (“Offer Price”), aggregating to a consideration of up to Rs. 1034.67 lacs, assuming full acceptance in the open offer.
Source: bseindia.com
Current financials of GAGL:
| (in Cr.) | Mar-13 | Dec-12 | FY12-13 |
| Revenue | 6.38 | 5.66 | 24.10 |
| Net Profit | 1.59 | 1.79 | 4.08 |
| EPS | 45.50 | 51.29 | 116.54 |
Current Shareholding pattern of GAGL (Pre-Acquisition):
| (in %) | Mar-13 | Dec-12 | Sep-12 |
| Promoter | 70.62 | 70.62 | 70.62 |
| FII | -- | -- | -- |
| DII | 0.16 | 0.16 | 0.16 |
| Others | 29.22 | 29.22 | 29.22 |
| Total | 100.00 | 100.00 | 100.00 |
Sole Advisor: Not Known (Will be updated soon)
About HIM Teknoforge Ltd.
Him Teknoforge Ltd, is the flagship company of Him Group. Chandigarh based Group is into production of forgings and finished components for automotive and engineering applications.
About HIM Globe Precision Industries Private Limited (GPIPL)
Globe Precision Industries Private Limited (GPIPL) is engaged in the manufacturing of axles, gears and shafts for tractors and other automotive applications. The company was incorporated in 1986. The company has two manufacturing units in Baddi and Pant Nagar Rudrapur (HIMachal Pradesh), where the company uses forging products as raw material and manufactures automotive components using processes like turning, hobbing, rounding chamfering, cylindrical and bore grinding.
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