Ajanta Pharma Ltd board approves buyback of shares at Rs. 2550

The Board of Directors of Ajanta Pharma Ltd, at its meeting held today, i.e., December 28, 2021, has unanimously approved Buy-back of up to 11,20,000 fully paid-up Equity Shares of face value of Rs. 2/- each by the Company (representing 1.29% of the total number of Equity Shares of the Company) at a price of Rs. 2,550/- (Rupees Two Thousand Five Hundred and Fifty only) per Equity Share payable in cash for a total consideration not exceeding Rs. 285.60 crores (Rupees Two Hundred Eighty Five Crores and Sixty Lakhs 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.

The Board of Directors of the Company have fixed the record date for the proposed Buy-back offer as Friday, January 14, 2022.

Shares of Ajanta Pharma Limited was last trading in BSE at Rs. 2180.30 as compared to the previous close of Rs. 2122.45. The total number of shares traded during the day was 4637 in over 1037 trades.

The stock hit an intraday high of Rs. 2194.00 and intraday low of 2122.00. The net turnover during the day was Rs. 10085928.00.

Source : Equity Bulls

Keywords

AjantaPharma INE031B01049 AJANTPHARM Pharmaceuticals Buyback TenderOffer