arrow-left

eClerx Services to do share buyback of Rs 300 crore

  • India Infoline News Service |
  • 16 Dec, 2022 |
  • 7:54 AM

On Thursday, eClerx Services announced a Rs300 crore share repurchase. The ultimate repurchase price set by the business is Rs1,750, which represents a premium of more than 25% over the NSE's previous day's closing price of Rs1,397 per share.

Up to 17,14,285 units of shares, or 3.38% of the total shares in the company's paid-up equity share capital, will be repurchased in the entire offering.

For the purpose of identifying the names of equity shareholders who are qualified to take part in the buyback and their entitlements, the business has set December 27, 2022, as the record date.

The business previously conducted a share repurchase in 2021 for a total of Rs303 crore. At that time, the buyback price was set at Rs2,850 per share.

After providing returns of 312% over the previous three years, eClerx stock has plummeted over the past year, producing a negative return of nearly 7%.

Business process management, automation, and analytics solutions are provided by eClerx Services.

For feedback and suggestions, write to us at editorial@iifl.com


Invest wise with Expert advice

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth based investment options
  • One tap Investments, Automated trading & much more
ad IconAd Image

Most Read News

Article Image
  • 14 March, 2022 |
  • 7:03 AM

The US Federal committee's meeting will conclude on March 16, 2022.

Most Shared News

No Record Found