Cosmo Films submits Letter of Offer for buyback up to 12.67 lakh equity shares worth Rs73cr

The buyback offer is submitted through the tender process at a price of Rs576 per equity share.

Nov 20, 2020 02:11 IST India Infoline News Service

Cosmo Films Limited has submitted Letter of Offer on Thursday for the buyback up to 12.67 lakh fully paid equity shares of the company worth Rs73cr.

“The company has submitted Letter of Offer on November 19 for the buyback up to 12.67 lakh fully paid equity shares of Cosmo Films Limited of face value of Rs10 each, representing 6.52% of the issued subscribed and paid-up equity shares of the company, from all eligible shareholders on record date (November 9) on a proportionate basis.

The buyback is submitted through the tender offer process at a price of Rs576 per equity share payable in cash for an aggregate amount not exceeding Rs73cr excluding transaction costs,” company said in a regulatory filing on Friday.

At around 2.05 pm, Cosmo Films Ltd was trading at Rs444.45 per piece down by Rs4.15 or 0.93% from its previous closing of Rs448.60 per piece on the BSE.

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