The buyback price of Rs 1,425 per equity share represents a 15.98% premium to Thursday's closing price of Rs 1228.65 on the BSE.

The indicative maximum number of equity shares bought back would be 22,10,500 shares which is 2.59% of the total number of paid-up equity shares of the company.

If the equity shares are bought back at a price below the maximum buyback price, the actual number of equity shares bought back could exceed the indicative maximum buyback shares (assuming full deployment of maximum buyback size) but will always be subject to the maximum buyback size.

Further, the buyback shall not exceed the maximum buyback size, which represents 9.93% and 9.64% of the aggregate of the total paid-up capital and free reserves of the company based on the audited standalone financial statements and audited consolidated financial statements of the company as at 31 March 2022, respectively.

As on 3 March 2023, promoters and promoter group held 66.11% in the company.

Ajanta Pharma is a specialty pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa.

The pharma company's consolidated net profit dropped 29.9% to Rs 134.51 crore in Q3 FY23 as against Rs 191.78 crore posted in Q3 FY22. Net sales rose 16% year on year to Rs 971.77 crore in quarter ended 31 December 2022.

The scrip fell 0.91% to currently trade at Rs 1,217.45 on the BSE.