R Systems International Limited board approves buy back of upto 1,333,000 shares at Rs. 225 per share

The Board of Directors of R Systems International Limited (the "Company") at its meeting held on August 06, 2021, have approved the proposal for Buyback of Equity Shares of the Company of upto 1,333,000 (Thirteen Lakhs Thirty Three Thousand) fully paid-up Equity Shares of Re. 1/- each of the Company (representing 1.11% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 225/- (Rupees Two Hundred Twenty Five only) per equity share (hereinafter referred as "Buyback Price") payable in cash for an aggregate consideration not exceeding Rs. 299,925,000 (Rupees Twenty Nine Crores Ninety Nine Lakhs Twenty Five Thousand only) (hereinafter referred as "Maximum Buyback Size"), representing 8.73% and 7.64% of the total paid-up equity share capital and free reserves as per the audited standalone and consolidated balance sheet of the Company as on December 31, 2020, respectively, from all existing shareholders of the Company on the record date determined by the Board of Directors i.e. Friday, August 27, 2021, on a proportionate basis through "Tender Offer" route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018 ("Buyback Regulations") (including any statutory modification(s) or re-enactment of the Act or Buy-back Regulations, for the time being in force) and the Companies Act, 2013 and rules made thereunder. The Buyback Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, brokerage, applicable taxes (such as income tax, buyback taxes, securities transaction tax, stamp duty and goods and service tax), advisors' fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

Shares of R Systems International Limited was last trading in BSE at Rs. 192.7 as compared to the previous close of Rs. 195.95. The total number of shares traded during the day was 175401 in over 4117 trades.

The stock hit an intraday high of Rs. 203 and intraday low of 191.5. The net turnover during the day was Rs. 34727365.

Source : Equity Bulls

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