FDC Ltd board approves buyback proposal

The Board of Directors of FDC Ltd at its meeting held on February 09, 2022 has approved the proposal to Buyback its own fully paid up Equity Shares of Re. 1/- each ("Equity Shares") from the equity shareholders of the Company as on Record Date, for upto 29,00,000 fully paid up Equity Shares (being 1.72% of the total paid up equity capital of the Company) at a price of Rs.475/- (Rupees Four Hundred and Seventy Five only) per equity share ("Buyback Offer Price") for an aggregate amount not exceeding Rs.137,75,00,000 (Rupees One Hundred Thirty Seven Crores Seventy Five Lakhs Only) ("Offer Size"), (being less than 10% of the Paid Up Capital and free reserves as on March 31, 2021) on a proportionate basis through the "Tender Offer" route.

The Board also noted the intention of the Promoter of the Company to participate in the proposed Buyback.

Further, the Board has decided February 19, 2022 as the Record Date for the purpose of Buyback Offer.

Shares of FDC Limited was last trading in BSE at Rs. 313.50 as compared to the previous close of Rs. 311.60. The total number of shares traded during the day was 7317 in over 495 trades.

The stock hit an intraday high of Rs. 317.65 and intraday low of 311.05. The net turnover during the day was Rs. 2297310.00.

Source : Equity Bulls

Keywords

FDC INE258B01022 Buyback TenderOffer