Ajanta Pharma ltd. announced on Wednesday that it would buyback of 7,35,000 equity shares worth Rs 135.97 crore.
The Mumbai based company stated in its BSE regulatory filing. “This is in furtherance to our intimation dated 3rd November 2020, where we informed you that the Board of Directors of the Company (“Board”) approved a proposal for the buyback of 7,35,000 (Seven Lakh Thirty- Five Thousand) equity shares of Rs. 2 each representing 0.84% of the total number of equity shares in the paid-up share capital of the Company from the shareholders of the Company as on the record date i.e. 13th November 2020 on a proportionate basis under the tender offer route in accordance with provisions of the Companies Act, 2013 and Rules framed thereunder and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018, as amended (“Buyback Regulations”).”
“The aggregate consideration for Buyback not exceeding Rs 135,97,50,000/- (Rupees One
Hundred Thirty-Five Crores Ninety-Seven Lakhs and Fifty Thousand only), does not exceed 10% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone and consolidated financial statements of the Company for the financial year ended 31st March, 2020 (the last audited financial statements available as on the date of the Board meeting).”
