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The board of Vyapar on Friday approved the buyback of up to 20.40 lakh equity shares at a price of ₹38 a share. The buyback size is ₹7.75 crore and will be done through the tender offer route on proportionate basis from the shareholders as on the record date (to be decided later). The proposal is subject to shareholder approval via special resolution through postal ballot and regulatory compliances. The board noted the intention of Akeel Rassai and Hussein Rassai, promoters of the company, to participate in the proposed buyback. Rest of the promoter and promoter group will not participate in the buyback. The board has also approved the proposal of sell, transfer or otherwise dispose of the whole or substantially the whole of the investments (49.11 lakh equity shares of ₹10 each) held in Beneficent Knowledge Parks & Properties Ltd in tranches to the related party & other present shareholders of BKPP at ₹50.62 a share for a minimum total consideration of ₹24.86 crore. The stock of Vyapar Industries slumped 4.9 per cent at ₹36.1 on the BSE.
The board of Ishan Dyes & Chemicals on Friday considered and approved the issue and allotment of 37.55 lakh bonus shares in the proportion of one new bonus share for every two existing shares. The company had fixed the record date on February 15 to ascertain eligible shareholders. Shares of Ishan Dyes & Chemicals closed 1.82 per cent lower at ₹53.9 on the BSE.
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