The ₹44-crore buyback offer of Gandhi Special Tubes (GST) will open for subscription on Tuesday and close on March 19. The company plans to buy back up to 8.80 lakh shares (or 5.99 per cent stake) at ₹500 a share. The manufacturer of small diameter seamless and welded steel tubes will buy back its shares on proportionate basis through tender offer. Shareholders whose names had appeared on the company’s records on February 9 are eligible to participate.
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