Pidilite board approves buy-back offer
The buy-back offer is just for 0.975% of the total paid-up equity capital of the Company
Stocks of the company touched its all-time high of Rs 972 and closed at Rs 926. Source: Company website
The Pidilite's board of directors has approved a buy-back proposal of equity shares not exceeding 5 million at the price of Rs 1,000 per share, an India Infoline report said today.
The stocks of the company touched its all-time high of Rs 972 and closed at Rs 926. The buy-back offer is just for 0.975% of the total paid-up equity capital of the Company.
The company has negligible debt on its book and had current investments and cash of Rs 1,487cr and Rs 152cr, respectively, as on 1HFY18. Buy-back at Rs 1,000 per share can garner Rs 500 crore.
Pidilite is the largest adhesive player in India, with its iconic brand 'Fevicol'.
Recently, Wipro too closed a Rs 5,700-crore share buy-back offer.
The stocks of the company touched its all-time high of Rs 972 and closed at Rs 926. The buy-back offer is just for 0.975% of the total paid-up equity capital of the Company.
The company has negligible debt on its book and had current investments and cash of Rs 1,487cr and Rs 152cr, respectively, as on 1HFY18. Buy-back at Rs 1,000 per share can garner Rs 500 crore.
Pidilite is the largest adhesive player in India, with its iconic brand 'Fevicol'.
Recently, Wipro too closed a Rs 5,700-crore share buy-back offer.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Updated: Tue, Dec 26, 2017
06:29 PM IST
06:29 PM IST
ZeeBiz WebDesk
Pidilite Q1 Results: Fevicol adhesive maker clocks 21% jump in net profit, beats Street estimates
Pidilite (PIDILITIND) Q1 FY25 Results Preview: Fevicol adhesive maker likely to clock 14% EBITDA growth, 140 bps margin improvement; here is what else you can expect