buy back via tender …
“Approved the offer to Buy-back up to 65,00,000 (Sixty-Five lacs only) fully paid-up
Equity Shares of Face Value of ₹1/- (Rupee one only) each of the Company, representing
approximately 2.76% of the total number of equity shares in the total paid-up equity share
capital of the Company, for an aggregate amount not exceeding ₹32,500 Lacs (Rupees
Thirty-Two Thousands Five Hundred Lacs only) (hereinafter referred to as the
“Buyback Size”), which is 6.94% and 6.96% of the aggregate of the fully paid-up Equity
Share capital and free reserves (including securities premium) as per the latest audited
standalone and consolidated financial statements of the Company as on 31st March 2023,
respectively, at ₹500 (Rupees Five-Hundred only) per Equity Share (the “Buyback
Price” and such buyback, the “Buyback”).
The Buyback Size does not include any expenses incurred or to be incurred for the purpose
of undertaking the Buyback, including but not limited to the filing fees, advisory fees,
public announcement publication expenses, printing and dispatch expenses, transaction
costs viz. brokerage, applicable taxes such as buyback tax, securities transaction tax, goods
and service tax, stamp duty, etc. and other incidental and related expenses.
The buyback is proposed to be undertaken through the tender offer route using the stock
exchange mechanism notified by SEBI vide circular CIR/CFD/POLICYCELL/1/2015
dated 13 April 2015, as amended, read with thecirculars issued in relation thereto, including
the circular CFD/DCR2/CIR/P/2016/131 dated 09th December 2016, circular
SEBI/HO/CFD/DCR-III/CIR/P/202l/615 dated 13th August 2021 and circular
SEBI/HO/CFD/PoD-2/P/CIR/2023/35 dated 08th March 2023, and such other
circulars as may be applicable, including any amendment thereof, in accordance with the
provisions contained in the SEBI (Buy-Back of Securities) Regulations, 2018 (hereinafter
referred to as the “Buyback Regulations”) and the Companies Act, 2013, as amended,
and rules made thereunder.
Fixation of Record Date: Pursuant to Regulation 42 of the SEBI Listing Regulations and
Regulation 9(i) of the Buyback Regulations, the Board has fixed Friday 25th August 2023,
as the record date for the purpose of determining the entitlement and names of the
shareholders eligible to participate in the Buyback.
The Board took note of the intention of the members of thThe Board took note of the intention of the members of the promoter & promoters group
to participate in the Proposed Buyback. The Board has also approved the constitution of
a Buyback Committee with regard to the proposed Buyback and has delegated its powers
to do such acts, deeds, matters, and things as it may, in its absolute discretion, deem
necessary, expedient, usual or proper in relation to the proposed Buyback”
| Subscribe To Our Free Newsletter |
