Mayur Uniquoters Limited, a leading manufacturer and exporter of synthetic leather, has announced the opening of its buyback offer today, August 29, 2024. The buyback, which will remain open until September 4, 2024, is being offered at a price of ₹800 per equity share.
The company has set aside ₹40 crores for the buyback, which will involve the purchase of up to 500,000 equity shares, representing 1.14% of the total paid-up equity share capital of the company.
The buyback is being implemented to enhance overall shareholder value by reducing the outstanding number of equity shares and potentially increasing earnings per share over time. It is also expected to contribute to the maximization of overall shareholders’ value.
Eligible shareholders holding either physical or demat shares as of the record date, August 23, 2024, can participate in the buyback offer through their stock brokers. The acceptance ratio for the reserved category of small shareholders is set at 1 equity share for every 27 fully paid-up equity shares held on the record date, while the general category of all other eligible shareholders will receive 3 equity shares for every 296 fully paid-up equity shares held.
Shareholders are advised to carefully consider their investment goals, risk appetite, and the company’s fundamentals before deciding whether to participate in the buyback offer or remain invested in the company.
