Aurobindo Pharma's ₹800 Crore Share Buyback: Last Day to Purchase Shares
Buyback alert! Last date to buy Aurobindo Pharma shares for Rs 800-crore share buyback. Check details
The Economic Times
Image: The Economic Times
Investors must buy Aurobindo Pharma shares by April 16 to participate in the company's ₹800 crore ($96 million USD) share buyback. The buyback price is set at ₹1,475 per share, a 7% premium over the current market price, with the record date for eligibility on April 17.
- 01Last day to purchase shares for the buyback is April 16.
- 02Buyback price is ₹1,475 per share, representing a 7% premium.
- 03Aurobindo Pharma plans to repurchase 54.24 lakh shares, totaling 0.93% of its stake.
- 04The company will utilize 2.62% of its free reserves for the buyback.
- 05This is Aurobindo Pharma's second buyback in less than two years.
Advertisement
In-Article Ad
Aurobindo Pharma has initiated a share buyback worth ₹800 crore (approximately $96 million USD), with the last date for investors to purchase shares being April 16. The buyback price is set at ₹1,475 per share, which is a 7% premium over the last closing price of ₹1,374. The record date for determining shareholder eligibility is April 17, meaning shares must be credited to demat accounts by this date. Aurobindo Pharma plans to repurchase 54.24 lakh shares, representing 0.93% of its total stake, utilizing 2.62% of its free reserves. This marks the company's second buyback in under two years, following a ₹750 crore buyback in 2024. The buyback is conducted through a tender offer, encouraging shareholder participation by offering a higher price than the current market levels.
Advertisement
In-Article Ad
Investors looking to benefit from the buyback must act quickly to secure shares, potentially enhancing their investment value.
Advertisement
In-Article Ad
Reader Poll
Do you think share buybacks are beneficial for investors?
Connecting to poll...
More about Aurobindo Pharma
Read the original article
Visit the source for the complete story.