Redington to buyback 1.1cr equity shares

The company will buyback shares with a face value of Rs2 each at a price of Rs125 per equity share payable in cash.

Oct 30, 2018 03:10 IST India Infoline News Service

Redington has issued a letter of offer for its proposed buyback of 1.1cr fully paid up equity shares, aggregating Rs139cr, it said in a press note to exchanges on Monday after market hours.

The company will buyback shares with a face value of Rs2 each at a price of Rs125 per equity share payable in cash on a proportionate basis through tender offer route as prescribed under SEBI,  Redington  said in a press note.

Redington India's share price ended at Rs81.50, down by Rs1.65 or 1.98% from its previous closing of Rs83.15 on the BSE.

The scrip opened at Rs83.50 and touched a high and low of Rs90 and Rs80.80, respectively. A total of 2,96,758 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,281.42cr.

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