The share buyback shall be on a proportionate basis through the tender offer route.
The company proposes a buyback of 42,50,000 shares of Rs2 each comprising 1.89% of the total existing paid-up equity capital of the company at a price of Rs140 each. The total buyback will be for an amount not exceeding Rs59,50,00,000 which is 8.63% of the total paid-up equity capital and free reserves of the Company based on the latest audited standalone financial statements of the Company as of March 31, 2021.
Filatex's counter fell 0.90% in today's trade at Rs126.60 against its previous closing price of Rs127.75 on NSE. During the day so far, it hit intraday high and low of Rs131.80 and Rs124.95 respectively.
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