Buyback

Gandhi Special Tubes Limited CIN: L27104MH1985PLC036004 Registered address: 201-204,Plaza, 2nd Floor, 55 Hughes Road, Mumbai -400 007 Tel: +91 2223634179/23634183 info@gandhitubes.com; complianceofficer@gandhitubes.com www.gandhispecialtubes.com August 25, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai -400 001 Mumbai -400 051 Scrip Code:513108 Symbol: GANDHITUBE Dear Sir / Madam, Sub: Update regarding the Buyback Offer of up to 8,68,100 fully paid-up Equity Shares of Face Value of Rs. 5/- each of Gandhi Special Tubes Limited (“the Company”) at a price of INR 900/- per Equity Share through tender offer route (“Buyback Offer”) We refer to our letter dated August 18, 2026, in connection with the proposed Buyback of Equity Share by the Company, whereby we had submitted the Public Announcement dated August 14, 2026, and published in the newspapers on Tuesday, August 18, 2026, in terms of the provisions of Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (“SEBI Buyback Regulations”). In this regard, please find enclosed the copy of the Letter of Offer along with the Tender Forms / Transfer Deed (Form SH-4) in relation to the Buyback Offer, in accordance with the SEBI Buyback Regulations. The Company has dispatched in electronic form, the Letter of Offer along with the Tender Forms / Transfer Deed to the Eligible Shareholders (being shareholders of the Company as on the Record Date being Friday, August 21, 2026), whose email ids have been registered with the Company / Depository Participants. Further, you are requested to take note of the following schedule of activities in relation to the Buyback Offer: Date of Opening of Buyback Offer Period Thursday, August 27, 2026 Wednesday, September 2, Date of Closing of Buyback Offer Period 2026 Last date of receipt of completed Tender Forms and other Wednesday, September 2, specified documents by the Registrar to the Buyback 2026 Last date of verification of Tender Forms by Registrar to Friday, September 4, 2026 the Buyback Last date of providing acceptance / non-acceptance of tendered Equity Shares to the Stock Exchanges by the Tuesday, September 8, 2026 Registrar to the Buyback Last date of settlement of bids / payment of Wednesday, September 9, consideration by the clearing corporations 2026 Gandhi Special Tubes Limited CIN: L27104MH1985PLC036004 Registered address: 201-204,Plaza, 2nd Floor, 55 Hughes Road, Mumbai -400 007 Tel: +91 2223634179/23634183 info@gandhitubes.com; complianceofficer@gandhitubes.com www.gandhispecialtubes.com In case of any query, the shareholders may contact the Registrar to the Buyback offer at the following address: KFin Technologies Limited Selenium, Tower-B, Plot No 31–32, Gachibowli Financial District, Nanakramguda, Hyderabad 500032, India Tel: +91 40 67162222 / 18003094001, Fax: +91-40-67161563, E-mail: gstl.buyback2026@kfintech.com Contact Person: M. Murali Krishna The above documents are also being made available on the website of the Company at www.gandhispecialtubes.com and on the website of Prime Securities Limited, the Manager to the Buyback, at www.primesec.com, BSE Limited, i.e. www.bseindia.com, National Stock Exchange of India Limited i.e. www.nseindia.com and Kfin Technologies Limited (Registrar to Buyback) i.e. www.kfintech.com This is for your information and record. Yours faithfully, For Gandhi Special Tubes Limited Chaitali Parekh Company Secretary (Membership No: ACS 54216) Encl.: Letter of Offer dated August 24, 2026 LETTER OF OFFER THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Letter of Offer is sent to you as a registered Equity Shareholder (as defined hereinafter) of Gandhi Special Tubes Limited (“the Company”) as on Record Date (as defined hereinafter) in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended from time to time (“Buyback Regulations”). If you require any clarifications about the action to be taken, you may consult your Stock Broker or Investment Consultant or the Managers to the Buyback, i.e. Prime Securities Limited, or the Registrar to the Buyback, KFin Technologies Limited. Please refer to the section on “Key Definitions” for the definition of the capitalized terms used herein. Gandhi Special Tubes Limited Regd. Office: 201-204, 2nd Floor, Plaza, 55, Hughes Road, Next to Dharam Palace, Mumbai 400007, Maharashtra, India, CIN: L27104MH1985PLC036004, Tel: +91-22-23634179 Website: www.gandhispecialtubes.com; Email:complianceofficer@gandhitubes.com Contact Person: Chaitali Parekh, Company Secretary & Compliance Officer CASH OFFER TO BUYBACK UPTO 8,68,100 (EIGHT LAKH SIXTY EIGHT THOUSAND ONE HUNDRED) FULLY PAID-UP EQUITY SHARES OF FACE VALUE INR 5/- (RUPEES FIVE ONLY) EACH, REPRESENTING 7.14% OF THE TOTAL NUMBER OF EQUITY SHARES IN THE ISSUED, SUBSCRIBED AND PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY, FROM THE ELIGIBLE SHAREHOLDERS / BENEFICIAL OWNERS OF THE COMPANY AS ON THE RECORD DATE, BEING FRIDAY, AUGUST 21, 2026, ON A PROPORTIONATE BASIS THROUGH THE "TENDER OFFER ROUTE", AT A PRICE OF INR 900/- (RUPEES NINE HUNDRED ONLY) PER EQUITY SHARE FOR AN AGGREGATE MAXIMUM AMOUNT OF INR 78,12,90,000/- (RUPEES SEVENTY EIGHT CRORE TWELVE LAKH NINETY THOUSAND ONLY) 1) The Buyback is in accordance with Article 24A and 24B of the Articles of Association of the Company and provisions of Sections 68, 69, 70, 108 and 179 and all other applicable provisions, if any, of the Companies Act, 2013 (“the Act”), the Companies (Share Capital and Debentures) Rules, 2014, the Companies (Management and Administration) Rules, 2014, each as amended and in compliance with the Buyback Regulations including any amendments, statutory modifications or re-enactments thereof, for the time being in force and is subject to such other approvals, permissions and sanctions as may be necessary, from time to time, from any statutory and / or regulatory authorities, including but not limited to Securities and Exchange Board of India (“SEBI”), stock exchanges where the Equity Shares of the Company are listed i.e. the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) (collectively, “Stock Exchanges”), Reserve Bank of India (“RBI”), etc. 2) The Buyback Size represents 24.9996% of the total paid-up equity share capital and free reserves as per the audited financial statements of the Company as on March 31, 2026 (last audited financial statements available as on the date of Board Meeting recommending the proposal of the Buyback) and is within the statutory limits of 25% of the fully paid-up equity share capital and free reserves as per the last audited financial statements of the Company. 3) In accordance with the Buyback Regulations, this Letter of Offer is being sent electronically to the Eligible Shareholders holding Equity Shares of the Company as on the Record Date i.e. Friday, August 21, 2026. Further, in terms of Regulation 9(ii) of the Buyback Regulations, if the Company receives a request from any Eligible Shareholder to dispatch a copy of this Letter of Offer in physical form, the same shall be provided. 4) The procedure for tender and settlement is set out in paragraph 24 of this Letter of Offer. The Form of Acceptance-cum- Acknowledgement (“Tender Form”) along with the Share Transfer Form (“Form SH-4”) is enclosed together with this Letter of Offer. 5) The procedure for Acceptance is set out in paragraph 23 of this Letter of Offer. The payment of consideration is in cash to the Eligible Shareholders. For mode of payment of consideration to the Eligible Shareholders, please refer paragraph 24.30 to 24.33 of this Letter of Offer. 6) A copy of the Public Announcement published on Tuesday, August 18, 2026 and the Letter of Offer (including Tender Form and Form SH-4) shall be available on the website of the Company, the Manager to the Bu [Showing first 8,000 characters — download PDF for full document]