Sun Pharma closes buy-back period; stock up ~1%

No Equity Shares have been bought back as the volume weighted average market price of Equity Shares of the company.

Sep 28, 2020 09:09 IST India Infoline News Service

Sun Pharma
Sun Pharmaceutical Industries Limited on Friday Intimated the exchanges about closure of Buy-back period for buy-back of Equity Shares. No Equity Shares have been bought back under the Buy-back as the volume weighted average market price of Equity Shares of the company during the Buy-Back period was higher than the Maximum Buy-back Price. 

The company in March 2020 had announced the buy-back of fully paid-up equity shares of the company having face value of Re. 1/- (Equity Share) from the Open Market through stock exchange mechanism at a maximum price of Rs425per Equity Share payable in cash, for an aggregate maximum amount of up to Rs1700cr.

The amount excluded transaction costs viz. brokerage, advisor’s fees, intermediaries fees, public announcement, publication fees, filing fees, turnover charges, applicable taxes such as securities transaction tax, goods and services tax, income tax, stamp duty and other incidental and related expenses.

“In terms of the Public Announcement read with Corrigendum, the Buy-back commenced from Thursday, March 26, 2020 and the last date for the completion of Buy-Back would be Friday, September 25, 2020 i.e. within 6 months from the date of opening of Buy-back. Therefore, the Buyback of Equity Shares by the company stands closed effective from closure of trading hours September 25, 2020,” company said.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs494 up by Rs4.55 or 0.93% from its previous closing of Rs489.45 on the BSE.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity