Matrimony.com, a leading matchmaking service provider, has announced a share buyback program worth ₹72 crore.
The board of directors approved the repurchase of up to 7 lakh equity shares at a price of ₹1,025 per share, representing a 26.5% premium over the last traded price of ₹810.
The buyback, to be conducted through the “tender offer” route, will involve 24.85% of the company’s total equity capital. In compliance with SEBI regulations, 15% of the shares are reserved for small shareholders.
This follows a previous buyback in 2022, which was set at ₹1,150 per share. The record date for this new buyback will be announced later.
Shares of Matrimony.com closed 1.06% higher at ₹810.00 on NSE.
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Matrimony.com