Matrimony.com gets SEBI approval for Rs75 crore buyback plan; stock spurts ~3%

15 Jul 2022 , 10:44 AM

Matrimony.com Limited received final observation from the Securities and Exchange Board of India (SEBI) through its later dated July 12, 2022, on the Draft Letter of Offer for the Buyback dated June 30, 2022.

In accordance with SEBI (Buy Back of Securities) Regulations, 1998, the Company will send the Letter of Offer for the Buyback to eligible shareholders who own Equity Shares on the record date, July 4, 2022.

The Buyback offer will begin on Tuesday, July 26, 2022, and will end on Monday, August 8, 2022.

The company in its meeting held on May 12, 2022, approved the Offer to buy back up to 6,52,173 Equity Shares from Eligible Shareholders on a proportionate basis through the Tender Offer route in accordance with the SEBI Buyback Regulations read with SEBI Circulars for an aggregate amount of Rs75 crore.

At around 10.47 AM, Matrimony.com was trading at Rs775 up by Rs24.95 or 3.33% from its previous closing of Rs750.05 on the BSE. The scrip opened at Rs745 and has touched a high and low of Rs779 and Rs745 respectively.