Aarti Drugs Ltd. has announced plans to repurchase equity shares worth up to ₹60 crore. The company will buy back up to 6.65 lakh fully paid-up equity shares, which represents 0.72% of its total equity. The buyback price has been set at ₹900 per share, offering a 60% premium over current market prices.
The company has opted for the “tender offer” route for this buyback, meaning the price will remain fixed throughout the process. The record date for this buyback is September 5, 2024.
This marks the sixth time Aarti Drugs has undertaken a share buyback since 2016, with previous buybacks occurring in 2018, 2019, 2021, and 2023.
As of 3:28 PM the shares of Aarti Drugs was trading 9.70% higher at ₹618.55 on NSE.
