Corporate News 18-Sep-20
Board of Rites approves buyback of shares up to Rs 257 crore
At meeting held on 18 September 2020
The Board of Rites at its meeting held on 18 September 2020 has approved buyback of not exceeding 96,98,113 equity shares (representing 3.88% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 265 per equity shares payable in cash for an aggregate consideration not exceeding Rs 257 crore representing 9.97% & 9. 76% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone and consolidated financial statements of the Company, respectively for the financial year ended 31 March 2020.
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