TTK Prestige today announced that the company has issued a Letter of Offer for the buyback of up to 16,66,666 fully paid-up equity shares, each with a face value of Rs 1. This represents about 1.20% of the company’s total equity shares. The buyback price is set at Rs 1,200 per share, and the total amount allocated for this buyback is Rs 199.99 crore or Rs 200 crore. The buyback will be conducted on a proportionate basis through a tender offer.
According to the exchange filing, TTK Prestige’s Rs 200 crore buyback process will open on August 21, 2024, and close on August 27, 2024. Shareholders must ensure that their completed Tender Forms and other required documents are received by the Registrar by August 27, 2024. The final settlement of bids by the Clearing Corporation/BSE is scheduled for September 3, 2024.
