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.

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Written By: PTI
Updated: Fri, Jul 28, 2023
08:50 PM IST
PTI
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