Buy Back from Open Market
Please note that BSE Limited has informed the Exchange that the Board of Directors of the Company at its meeting held January 15, 2018 has inter-alia approved the Buyback proposal for purchase by the Company of its fully paid-up equity shares of face value of Re. 2/- each (“Equity Shares” and such buyback, the “Buyback”), from the shareholders/beneficial owners of the Company, at a price not exceeding Re. 1,100 (Rupees One Thousand and One Hundred Only) per Equity Share (“Maximum Buyback Price”) from the open market through stock exchange mechanism in such manner as may be prescribed in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (“Buy-back Regulations”) and the Companies Act, 2013 (“Act”) (including any statutory modification(s) or re-enactment of the Act or Buy-back Regulations, for the time being in force).
UPSIDE % =12.25 % ( difference between Buy-Back price and CMP )
CMP = Rs.981.90/- per share
MARKET CAP = Rs. 5283.42 crore
BUY – BACK Price = Rs. 1100 per share
Buy Back of Shares = 5375436 (Fifty three lacs seventy five thousand four hundred thirty six Only) equity shares (representing 9.99% of the total number of equity shares in the paid-up share capital of the Company)
Route : Open market