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.