Comments
Tanla Platforms, a Communications-Platform-as-a-Service (CPaaS) player, has announced a share buyback plan offering ₹1,200 for every share with a face value of ₹1 through the ‘tender offer’ route.
The company pegged a spend of ₹170 crore for the buyback offer. This, however, doesn’t include any expenditure on brokerage, costs, fees, turnover charges and taxes such as buyback tax and securities transaction.
The board of directors, which met here on Thursday, approved the offer, the company informed the Bombay Stock Exchange (BSE).
The company intends to buy back 14.16 lakh shares, representing 1.04 per cent of the total equity shares.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.