AksharChem India Ltd Board approves Buy-back of Equity Shares

The Board of Directors of AksharChem India Ltd, at its meeting held on October 29, 2021, has approved the Buy-back of up to 1,69,491 fully paid-up Equity Shares of face value of Rs. 10/- each by the Company (representing 2.07% of the total number of Equity Shares of the Company) at a price of Rs. 590/- (Rupees Five Hundred Ninety Only) per Equity Share payable in cash for a total consideration not exceeding Rs. 9,99,99,690/- (Rupees Nine Crores Ninety Nine Lakhs Ninety Nine Thousand Six Hundred and Ninety only) (excluding transaction costs such as fees, brokerage, taxes, duties, etc.), which is not exceeding 10% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited financial statements of the Company for the financial year ended on March 31, 2021, through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 as amended, on a proportionate basis, from the Equity Shareholders/beneficial owners of the Equity Shares of the Company including promoters, members of promoter group and persons acting in concert, as on the record date.

Shares of AksharChem India Limited was last trading in BSE at Rs. 487.85 as compared to the previous close of Rs. 506.65. The total number of shares traded during the day was 7687 in over 600 trades.

The stock hit an intraday high of Rs. 505.80 and intraday low of 482.20. The net turnover during the day was Rs. 3803761.00.

Source : Equity Bulls

Keywords

AksharChemIndia INE542B01011 Buyback