Business Daily from THE HINDU group of publications
Saturday, Jul 29, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 29, 2006 |
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Corporate
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Buyback Revathi Equipment allots Rs 10 cr for buyback Our Bureau
Coimbatore , July 28 The Coimbatore-based Revathi Equipment Ltd has fixed Rs 700 as the maximum price at which it will buy back the company shares from the stock market. The company has created a corpus of Rs 10 crore to fund the buyback plan. The company, in a communication to the NSE, said that the buyback of its fully paid-up equity shares of the face value Rs 10 each from the equity shareholders and beneficial owners of the shares would be from the open market using the electronic trading facilities of the BSE and the NSE. The maximum buyback price would be Rs 700 per equity share payable in cash, totalling an amount not exceeding Rs 10 crore. The buyback is from July 28 and last date is the date of full utilisation of Rs 10 crore or June 28, 2007 whichever was earlier or such other date as might be determined by the company at any time even if the maximum limit of buy back of shares has not been reached, the communication said. The company scrip closed on the NSE today at Rs 646.90 and on the BSE at Rs 651.55.
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