Tanla Platforms share buyback - check price; Stock price hits upper circuit on NSE, BSE

Tanla Platforms Share Buyback Price, Tanla Platforms Share Price NSE: Tanla Platforms Limited, NSE: TANLA, has announced a share buyback programme. Tanla Platforms share price on Thursday, September 8, hit the upper circuit of 5 per cent on the NSE and BSE. Tanla Platforms is a Hyderabad-based cloud communications company.

Tanla Platforms, a small-cap IT company, in an exchange filing, informed that the company's board of directors has approved a share buyback proposal. Tanla Platforms share buyback proposal is for an aggregate amount not exceeding Rs Rs 170 crore. The equity shares offered under the Tanla Platforms buyback programme have a face value of Re 1 each.

Tanla Platforms Share Buyback Price

Tanla Platforms said that it has fixed the buyback price at Rs 1,200 per share. 

Tanla Platforms share buyback announcement led to massive buying sentiment in the company shares on Thursday. On the NSE, Tanla Platforms share price jumped 5 per cent to end at Rs 836.90. On the BSE, Tanla Platforms share price settled at 836.35. Tanla Platforms has a market cap of Rs 11,38,890.73, as per Thursday's closing, according to the NSE website.

Under the buyback programme, Tanla Platforms will buy 14,16,666 equity shares from its investors. The buyback programme will not include the promoters and members of the company's promoter group, Tanla Platforms said.

A share buyback is a corporate action. It is a process wherein a company buys its own outstanding shares from the market to reduce the number of shares available in the open market.

Tanla Platforms share buyback record date 

Tanla Platforms share buyback record date will be announced later.

Tanla Platforms share price has delivered a return of more than 10 per cent in last one month while it has yielded a negative return of over 40 per cent in 6 months. In last 5 years, Tanla Platforms share price has delivered a whopping 2,300 per cent return. Tanla Platforms share price 52-week range is Rs 2096.75 - Rs 584.50.