The Buy Back amount should not exceed Rs80 crore consisting of 14,54,545 shares. The total Buy Back approved by the Board is 0.99% of the total paid-up capital of the company.
The Buy Back price has been fixed at Rs550 per Equity Share payable in cash.
Based on both standalone and consolidated financial statements and the provisions of the Companies Act and the SEBI Buyback Regulations, the Buyback is less than 10% of the aggregate of the Company's fully paid-up equity share capital and free reserves.
The Buyback Offer Price represents a premium of 23.97% and 24.10% over the closing price of the Equity Shares on the NSE and BSE, respectively, on June 23, 2022, the day before the Board Meeting was announced to the Stock Exchanges.
Edelweiss Financial Services Limited has been appointed as the Manager to Buy Back.
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