The Board of has on Monday approved a proposal to buyback upto 54.23 lakh fully paid-up equity shares of the company, each having a face value of ₹1 representing upto 0.93 per cent of the total number of equity shares in the paid-up equity share capital.
The buyback will be at a price of ₹1,475 per equity share payable in cash for an aggregate amount up to ₹800 crore.
The buyback size does not include transaction costs such as brokerage costs, fees, turnover charges, and applicable .
The buyback is proposed to be made from all of the equity shareholders/beneficial owners of the Hyderabad-based company, including the promoters and members of the promoter group, the was informed on Monday.