The board of Aurobindo Pharma has today approved a buyback of its shares via the tender route. The company said that it will buyback 51.4 lakh shares at Rs 1,460 per share. The total buyback size will be around Rs 750 crore, the company said in an exchange filing.
“Subject to such approvals of regulatory and/or statutory authorities as may be required under
applicable laws, the buyback of up to 51,36,986 (fifty one lakh thirty six thousand nine hundred
eighty six only) fully paid-up equity shares of the Company, each having a face value of INR 1/-
(Indian Rupee one only) (“Equity Shares”), representing up to 0.88% of the total number of equity shares in the paid-up equity share capital of the Company, at a price of INR 1,460/- (Indian Rupees fourteen hundred sixty only) per Equity Share (“Buyback Price”) payable in cash for an aggregate amount up to INR 750,00,00,000/-(Indian Rupees seven hundred fifty crores only) (“Buyback Size”) being 3.84% and 2.67% of the aggregate of the total paid-up equity share capital,” the company told exchanges.
Shares of Aurobindo Pharma were down 0.6% or Rs 9 at Rs 1,361 as of 9:28 AM on the NSE.
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Aurobindo Pharma