Generic drugmaker Aurobindo Pharma’s Board has authorized a proposal to buyback almost 51.37 lakh shares at Rs.1,460 every.
July 30 would be the report date for figuring out entitlement and names of fairness shareholders eligible to take part within the ₹750 crore buyback. The shares (face worth of ₹1) to be purchased again characterize 0.88% of whole fairness shares.
In contrast with July 16 closing of ₹1,371.70 every on the BSE, the buyback value is a premium of 6.4%. Put up the announcement on Thursday, the share value declined and ended 2.49% decrease at ₹1,337.50 apiece.
The buyback is proposed to be constituted of all of the fairness shareholders / useful house owners of the corporate, together with promoters and members of the promoter group, maintain fairness shares as of the report date, on a proportionate foundation via the tender provide route, Aurobindo Pharma stated.
As on June 30, promoters and promoter group holding stood at 51.80%, whereas basic public holding was 5.77%. Mutual funds maintain 19.17% of the shares and overseas portfolio and FIIs 16.73%
