Aster DM Healthcare fixes Jan 24 as record date for buyback

The company's board has approved a buyback for an aggregate amount not exceeding Rs120cr, being 1.13% of the total paid-up equity share capital, at Rs210 per equity share.

Jan 13, 2020 04:01 IST India Infoline News Service

Aster DM Healthcare

Aster DM Healthcare at its meeting held on January 09, 2020 approved a proposal to buy back up to 57,14,285 equity shares of the Company for an aggregate amount not exceeding Rs120cr, being 1.13% of the total paid-up equity share capital, at Rs210 per equity share.

The board has determined January 24, 2020 as the record date for the purpose of determining the entitlement and names of the shareholders eligible to participate in the Buyback. 

The Buyback is proposed to be made from all existing shareholders of the company as on the record date on a proportionate basis under the tender offer route in accordance with the provisions of the Companies Act, 2013, and the Securities and Exchange Board of India Regulations, 2018.

The buyback size does not include transaction costs viz. brokerage, applicable taxes such as securities transaction tax, GST, stamp duty, any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, advisors/ legal fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

Members of the promoter and promoter group of the Company have indicated their intention to participate in the buyback.

Aster DM Healthcare Ltd is currently trading at Rs161.30 down by Rs2.9 or 1.77% from its previous closing of Rs164.20 on the BSE.
The scrip opened at Rs160 and has touched a high and low of Rs161.30 and Rs158.35 respectively. So far 46,065 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs8,295.83cr.

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