Bajaj Auto Buyback of Rs 2500 crore authorized by the board of administrators on the assembly was held on June 27, 2022. Bajaj Auto Buyback might be carried out through the Open Market route by means of the inventory trade mechanism.
The board of administrators of the corporate authorized the buyback by the Company of its totally paid-up fairness shares having a face worth of Rs 10 every fairness share at a value not exceeding Rs 4,600 per Equity Share and for an mixture quantity not exceeding Rs 2500 crores from the shareholders.
Bajaj Auto buyback might be a most variety of 54,34,782 fairness shares which might be 1.88% of the entire variety of paid-Up Equity Shares of the Company. If the Equity Shares are purchased again at a value under the Maximum Buyback Price, the precise variety of Equity Shares to be purchased again might exceed the Proposed Buyback Shares, however will at all times be topic to the Maximum Buyback Size. The Company will make the most of at the least 50% of the quantity earmarked because the Maximum Buyback Size for the Buyback i.e. Rs. 1,250 Crores (“Minimum Buyback Size”). Based on the Minimum Buyback Size and Maximum Buyback Price, the Company would buy a minimal of27,17,392 Equity Shares.
Bajaj Auto Buyback Details are as below:
- Bajaj Auto Announcement Date: June 27, 2022, Monday
- Bajaj Auto Buyback Price: Rs 4,600 per Equity Share
- Bajaj Auto Buyback Size: Rs 120 crores
- Bajaj Auto Buyback Type: Open Market
- Bajaj Auto Buyback Equity Shares: 54,34,782 (1.88% of the entire variety of paid-up shares)
For extra particulars please verify our Bajaj Auto Buyback 2022 web page.
– Source : IPOWATCH