Matrimony.com Limited has announced a board resolution for the buyback of 702,439 fully paid-up equity shares, which represents 3.16% of its total equity. The buyback price is set at ₹1,025 per share, amounting to a total expenditure of ₹7,200 lakhs. This decision aims to enhance shareholder value by distributing surplus funds and improving return on equity.
The buyback will be conducted through the “Tender Offer” route, with provisions to reserve 15% of the total shares for small shareholders. The company expects to complete the buyback within a year, contingent on obtaining necessary shareholder approvals via a postal ballot. The board believes that this initiative aligns with the company’s strategy of returning excess cash to shareholders while maintaining its operational and financial stability.
Matrimony.com has noted that the buyback is within the permissible capital payment limits, with adequate resources earmarked for this purpose, ensuring no reliance on borrowed funds.
