Abirami Financial Services India Ltd board approves buyback at Rs. 28

At the meeting of the board of directors ("Board") of Abirami Financial Services (India) Limited held on January 12,2023, the Board has approved a proposal for the buyback of 6,00,000 (Six Lakh) fully paid- up equity shares of face value INR 10/- each representing 10% of the total number of fully paid-up equity shares in the paid-up share capital of the Company, from the shareholders of the Company at a price of INR 28/- (Rupees Twenty Eight Only) per equity share (the "Buyback Offer Price") payable in cash for an aggregate consideration not exceeding INR 1,68,00,000 (Rupees One Crore Sixty Eight Lakhs Only) (the "Buyback Offer Size") representing 10% of the aggregate fully paid-up equity share capital and free reserves as per the audited standalone interim financial statements of the Company, for the period ended September 30, 2022, through 'Tender Offer' route.

The board has fixed Friday 27th Januaty 2023 as the Record Date for the Buyback Offer and appointed M/s. BONANZA PORTFOLIO LIMITED, a SEBI registered Category I Merchant Banker as "Sole Manager" to the Buyback Offer.

Shares of ABIRAMI FINANCIAL SERVICES (INDIA) LTD. was last trading in BSE at Rs. 21.70 as compared to the previous close of Rs. 20.67. The total number of shares traded during the day was 1930 in over 6 trades.

The stock hit an intraday high of Rs. 21.70 and intraday low of 21.70. The net turnover during the day was Rs. 41881.00.

Source : Equity Bulls

Keywords

ABIRAMIFINANCIALSERVICESINDIA INE195I01013 Buyback TenderOffer