te Piramal Enterprises approves Rs 1,750 crore share buyback | Zee Business

Piramal Enterprises approves Rs 1,750 crore share buyback

Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore.

Piramal Enterprises approves Rs 1,750 crore share buyback
The promoter and promoter group shall not participate in the buyback, it added. Image Courtesy: Reuters.

Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore.

The company's board has approved a buyback of up to 1.4 crore shares of face value of Rs 2 each, representing 5.87 per cent of the pre-buyback fully paid-up shares at a price of Rs 1,250 each, aggregating to Rs 1,750 crore through the tender offer route, the Mumbai-based company said in a regulatory filing.

The promoter and promoter group shall not participate in the buyback, it added.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.

Written By: PTI
Updated: Fri, Jul 28, 2023
08:50 pm
PTI
RELATED NEWS
Piramal to adjust Rs 3,164 cr AIF exposure to comply with new RBI order Piramal to adjust Rs 3,164 cr AIF exposure to comply with new RBI order
Brokerages cut target on Piramal Enterprises post Q2; stock down 5% Brokerages cut target on Piramal Enterprises post Q2; stock down 5%

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x