Ajanta Pharma announces buyback of equity shares of Rs. 389 crore

The Board of Directors of Ajanta Pharma Ltd. approved buyback of 22,10,500 fully paid-up Equity Shares of face value of Rs. 2/- each by the Company at a price of Rs. 1,425/- per Equity Share payable in cash.

The total pay-out towards buyback of shares will not be exceeding Rs. 389 crores (equity shares buyback consideration not exceeding Rs. 315 crores + buyback tax not exceeding Rs. 74 crores) on a proportionate basis through the Tender Offer process.

This buyback represents 2.59% of the total number of equity shares of the company and 9.93% of the paid-up share capital and free reserves of the company as per the standalone audited financial statements for the financial year ended on March 31, 2022.

The board has fixed Friday, March 24, 2023 as record date to determine the entitlement and names of Equity Shareholders, who shall be entitled to participate in the proposed offer for Buy-back of up to 22,10,500 Equity Shares of the Company at the price of ₹ 1,425/- per Equity share.

Shares of Ajanta Pharma Limited was last trading in BSE at Rs. 1215.65 as compared to the previous close of Rs. 1228.65. The total number of shares traded during the day was 8781 in over 1093 trades.

The stock hit an intraday high of Rs. 1240.95 and intraday low of 1197.40. The net turnover during the day was Rs. 10705289.00.

Source : Equity Bulls

Keywords

AjantaPharma INE031B01049 Buyback TenderOffer