The Board of Directors of Zydus Lifesciences Limited, at its meeting held today (i.e., May 20, 2022), has approved the proposal to buyback of not exceeding 1,15,38,461 (One Crore Fifteen Lacs Thirty Eight Thousands Four Hundred Sixty One) fully paid-up equity shares of the Company, each having a face value of INR 1/- ("Equity Shares"), representing up to 1.13% of the total number of equity shares in the paid-up equity share capital of the Company, at a price of INR 650/- (Rupees Six Hundred and Fifty only) per Equity Share ("Buyback Price") payable in cash for an aggregate amount not exceeding INR 750,00,00,000/- (Rupees Seven Hundred and Fifty Crores only) ("Buyback Size") being 7% and 4% of the aggregate of the fully paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements of the Company as at March 31, 2022, respectively. The Buyback Size does not include transaction costs viz. brokerage costs, fees, turnover charges, applicable taxes such as buyback tax, securities transaction tax, goods and services tax, stamp duty, etc., expenses incurred or to be incurred for the buyback like filing fees payable to the Securities and Exchange Board of India ("SEBI"), advisors/ legal fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses, etc.
The buyback is proposed to be made from all of the equity shareholders / beneficial owners of the Company, including the promoters of the Company (as defined under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011), who hold Equity Shares as of the record date, on a proportionate basis through the "tender offer" route as prescribed under the Buyback Regulations, using the "Mechanism for acquisition of shares through Stock Exchange.
The Record date for Buy back of Shares is June 2, 2022.
Shares of Zydus Lifesciences Limited was last trading in BSE at Rs. 357.15 as compared to the previous close of Rs. 338.60. The total number of shares traded during the day was 460004 in over 7738 trades.
The stock hit an intraday high of Rs. 358.95 and intraday low of 339.55. The net turnover during the day was Rs. 161445725.00.