It is a tax-free way for share-holders to sell ~3.67% of holdings at ₹500 (as by 2019 amendments, the company is taxed at 20% + surcharge + cess). Just shows even with 67% promoter holding, company is equitably rewarding minority shareholders too.
Perhaps the company hasn’t found a way to invest ₹250 crores (+taxes/surcharge) in near-term capex and is confident enough to accrue such money when needed.
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