Insecticides India shares dropped 5.37% to Rs 941.05 amid buyback proposal news. The shares opened at Rs 938.80. During the early trading session, it reached a high of Rs 953.95 and a low of Rs 925.25.
Insecticides India Limited has announced a share buyback proposal. Key details include:
- Buyback Offer:
- Up to 5,00,000 fully paid-up equity shares (1.69% of total paid-up equity capital)
- Price: Rs. 1,000 per equity share
- Maximum buyback size: Rs. 50 Crore
- Method: Tender Offer route
- Record Date: Wednesday, September 11, 2024
- Current Shareholding Pattern:
- Promoters: 72.16%
- Public shareholders: 27.84%
- Additional Notes:
- Promoters and Promoter Group intend to participate in the buyback
- Board may adjust buyback price and number of shares until one day before the record date
- Buyback size is less than 10% of paid-up equity capital and free reserves as of March 31, 2024
This buyback proposal is subject to regulatory approvals and compliance with SEBI Buyback Regulations and the Companies Act, 2013.
TOPICS:
Insecticides India