HomeBusinessBajaj Auto Board Approves Share Buyback Value Rs 2,500 Crore

Bajaj Auto Board Approves Share Buyback Value Rs 2,500 Crore


Bajaj Auto stated the buyback can be carried out at a worth not exceeding Rs 4,600 per fairness share.

New Delhi:

Bajaj Auto Ltd on Monday stated its board has accepted a share buyback programme for an combination quantity of as much as Rs 2,500 crore.

The board of administrators of the corporate, at its assembly held on Monday, accepted the proposal for buyback of the totally paid fairness shares of the corporate with a face worth of Rs 10 every from present shareholders, besides promoters and promoter group, from open market on the inventory exchanges, Bajaj Auto stated in a regulatory submitting.

The buyback can be carried out at a worth not exceeding Rs 4,600 per fairness share and for an combination quantity of as much as Rs 2,500 crore, representing 9.61 per cent of the mixture of the whole paid- share capital of the corporate, it added.

On June 14, the corporate’s board had deferred a choice on its proposed share buyback citing additional deliberations had been required on the proposal.

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