The board has approved a final buyback price of Rs 2850 per share and the aggregate amount of the buyback shall not exceed Rs 303 crore.

Accordingly, the total number of shares to be bought back in the buyback shall be upto 10,63,157 equity shares, representing 3.05% of the total number of equity shares in the total paid up equity share capital of the company.

Further, the board has fixed Thursday, 30 September 2021, as the record date for the purpose of determining the names of the equity shareholders who are eligible to participate in the buyback and their entitlements.

On 13 August 2021, the company informed that its board approved share buyback plan worth upto Rs 303 crore.

The board took note of the intention of members of the promoter and promoter group including the person in control of the company to participate in the proposed buyback.

As on 6 August 2021, the promoter and promoter group held 53.81% stake in eClerx Services.

Following the buyback announcement last month, shares of eClerx Services have gained 11.17% from its close of Rs 2172.40 on 13 August 2021. It has zoomed 214.25% in one year compared with 51.33% increase in the benchmark Sensex in the same period.

The company reported a consolidated net profit of Rs 91.3 crore in Q1 FY22 as against a net profit of Rs 51.8 crore in Q1 FY21, an increase of 76.4% YoY. Operating revenue for the quarter ended 30 June 2021 was Rs 486.3 crore as compared with Rs 336.6 crore in the corresponding period last year, YoY increase of 44.5%.

eClerx Services provides business process management, automation and analytics services.