Dhanuka Agritech has announced the approval of a buyback of its fully paid-up equity shares. The buyback, approved by the company’s Board of Directors on August 20, 2024, will be conducted through the tender offer route.
The company plans to repurchase 5,00,000 equity shares, each with a face value of ₹2, at a price of ₹2,000 per share. The total amount allocated for the buyback is up to ₹100 crore.
The buyback offer will open on Thursday, August 22, 2024, and will close on Wednesday, August 28, 2024. Shareholders must submit their completed Tender Offer Forms and other required documents to the Registrar by August 28, 2024. The final date for the dispatch of share certificates by the Registrar or the payment of consideration to shareholders, as well as the return of unaccepted demat shares, is set for Wednesday, September 4, 2024.
Dhanuka Agritech’s buyback initiative is part of its ongoing efforts to enhance shareholder value and optimize its capital structure.
