Goldiam International : A rare shareholder friendly and debt free Jewelry company

1. Update 1: Company received 30cr order from non US retailers. This is about 5.6% of FY23 revenue (533cr) which is impressive. There are able to onboard non US customers as well which will help to diversify revenue across geography reduce risk of slow down in US.

2. Update 2: Company will buyback about 2% share at price of 150/- (21 July will be record date).

Wanted to know why the companies in India buyback share at premium to market price in order to reward shareholders. Isn’t wise to buy at current market price so that they will be able to buyback more shares which will ultimately benefit all shareholders ( stock price appreciation or reduction in valuation).
Almost all companies in US buyback at market price.