Buyback Details

  • Maximum Buyback Size: ₹900 crore (excluding transaction costs)
  • Maximum Buyback Price: ₹1,530 per equity share
  • Maximum Number of Shares: 58,82,352 equity shares (4.12% of paid-up capital)
  • Minimum Buyback Size: ₹675 crore (75% of maximum size)
  • Minimum Shares at Max Price: 44,11,764 equity shares
  • Minimum Utilization Requirement: 40% of maximum size (₹360 crore) within first half of buyback period

Key Dates

  • Board Approval Date: August 27, 2026
  • Buyback Opening: On or before September 4, 2026
  • Maximum Buyback Period: 66 working days from opening
  • Latest Completion Date: December 11, 2026

Financial Parameters

Based on audited financials as of March 31, 2026:

  • Standalone paid-up capital + free reserves: ₹12,508.85 crore
  • Consolidated paid-up capital + free reserves: ₹14,189.51 crore
  • Maximum permissible under SEBI Regulations: ₹1,250.89 crore (lower of standalone/consolidated)
  • Buyback size as percentage: 7.19% of standalone, 6.34% of consolidated reserves

Capital Structure Impact

  • Current paid-up capital: ₹143.15 crore (14,31,53,522 shares)
  • Post-buyback capital (assuming maximum): ₹137.27 crore (13,72,71,700 shares)
  • Promoter holding change: From 30.07% to 31.37% (assuming maximum buyback)

Funding Sources

  • Internal accruals including free reserves and securities premium account
  • No borrowed funds from banks or financial institutions
  • Escrow account with Kotak Mahindra Bank with ₹225 crore deposit (25% of maximum size)

Promoter and Insider Restrictions

  • Promoters, promoter group, and persons in control excluded from participation
  • Promoter shares frozen at ISIN level during buyback period
  • No promoter trading in company securities during buyback period

Financial Highlights

Standalone Financials (as of June 30, 2026):

  • Net Worth: ₹14,917 crore
  • Total Debt: ₹799 crore
  • Debt-Equity Ratio: 0.05
  • EPS: ₹81.05 (basic)
  • Book Value per Share: ₹1,044.87

Consolidated Financials (as of June 30, 2026):

  • Net Worth: ₹18,099 crore
  • Total Debt: ₹799 crore
  • Debt-Equity Ratio: 0.04
  • EPS: ₹91.68 (basic)
  • Book Value per Share: ₹1,267.72

Operational Details

  • Fleet Size: 40 vessels (25 tankers, 15 dry bulk carriers) aggregating 3.24 mn dwt
  • Subsidiary Operations: Greatship India owns 19 vessels and 4 jack up drilling rigs
  • Business Segments: Dry bulk carriers, tankers, offshore oilfield services

Implementation Mechanism

  • Method: Open market purchases through stock exchanges
  • Broker: Kotak Securities Limited
  • Demat Account: 'The Great Eastern Shipping Company Limited - Buyback-2026-27' with Ventura Securities
  • Settlement: Through normal market mechanisms, cash consideration only

Statutory Approvals and Confirmations

  • Auditor Report: Deloitte Haskins & Sells LLP confirms permissible capital payment and solvency
  • Solvency Declaration: Board confirms company will not be rendered insolvent within one year
  • No Defaults: Confirmed no defaults in repayment of deposits, debentures, term loans, or dividend payments

Key Appointments

  • Merchant Banker: Kotak Mahindra Capital Company Limited
  • Registrar: KFin Technologies Limited
  • Compliance Officer: Mr. Anand Punde, Company Secretary
  • Escrow Bank: Kotak Mahindra Bank Limited

Rationale for Buyback

  • Improve earnings per share and return on equity
  • Effectively utilize available cash
  • Enhance shareholder value without materially impacting growth opportunities
  • Provide liquidity option to shareholders

Restrictions and Conditions

  • No further equity issuance during buyback period except for subsisting obligations
  • No capital raising for 6 months (Companies Act) / 1 year (SEBI) after buyback completion
  • Maintenance of minimum public shareholding at 25%
  • Transfer to capital redemption reserve account equal to nominal value of shares bought back