Emami slips ~1% post closure of buyback worth Rs16,121 lakh

22 Mar 2022 , 09:54 AM

In the early morning trade, Emami Ltd.’s stock fell nearly 1% after the company completed the buyback procedure in late hours on Monday.

The company bought back a total of 33,63,740 shares for a total cost of Rs16,121.45 lakh (excluding transaction cost). This represents 99.52% of the maximum buyback size allowed to the company which is Rs16,200 lakh.

The company bought back these shares on the price quoted by BSE and NSE. The highest price was Rs500 per equity, whilst the lowest price was Rs453.38 per share. The average transaction price works out to be Rs479.27 per share.

Consequently, the company closed the buyback transaction effective from the close of business hours of March 21, 2022, prior to the expiry of six months from the Commencement Date.

Promoters’ shareholding post buyback has increased to 54.27% from earlier 53.86%.

At around opening, Emami’s scrip was trading at Rs475.45, down by 1.13% against its previous close of Rs480.90. It touched an intraday high and low of Rs480.30 and Rs474.60 respectively so far.