Amrutanjan Health Care Ltd board approves buyback

The board of directors of Amrutanjan Health Care Limited (the "Company") at its meeting held today, i.e. Friday, June 30, 2023 has considered and approved the proposal for buyback of fully paid up equity shares of the Company having a face value of Rs. 1 (Rupee One Only) ("Equity Shares") from all shareholders/ beneficial owners of the Equity Shares of the Company, as on record date, as mentioned below, on a proportionate basis, through the "tender offer" route, using mechanism for acquisition of shares through stock exchange as prescribed under Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (the "Buyback Regulations") and such other circulars or notifications issued by the Securities and Exchange Board of India and the Companies Act, 2013 and rules made thereunder, as amended from time to time, at a price of Rs. 900/- (Rupees Nine Hundred only) per Equity Share ("Buyback Offer Price"), payable in cash, for an aggregate amount not exceeding Rs. 28,80,00,000 (Rupees Twenty Eight Crores Eighty Lakhs only), excluding expenses to be incurred for the Buyback brokerage costs, fees, turnover charges, taxes such as tax on buyback, securities transaction tax and goods and services tax (if any), stamp duty, printing and dispatch expenses, if any, filing fees to SEBI, stock exchange charges, advisor/legal fees, public announcement publication expenses and other incidental and related expenses and charges ("Buyback Offer Size"). The resultant Equity Shares to be bought back at the Buyback Offer Price shall not exceed 3,20,000 Equity Shares, representing 1.10% of the total number of Equity Shares in the total paid up equity capital of the Company.

Saffron Capital Advisors Private Limited, a SEBI Registered Merchant Banker, has been appointed as the Manager to the Buyback.

Tire Company has fixed Thursday, July 13, 2023, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to paiticipate in the Buyback.

Shares of Amrutanjan Health Care Limited was last trading in BSE at Rs. 667.60 as compared to the previous close of Rs. 638.10. The total number of shares traded during the day was 49297 in over 2797 trades.

The stock hit an intraday high of Rs. 707.00 and intraday low of 661.00. The net turnover during the day was Rs. 33828267.00.

Source : Equity Bulls

Keywords

AmrutanjanHealthCare INE098F01031 Buyback TenderOffer