The board of Bajaj Auto Ltd on Monday approved buyback of company shares at ₹10,000 a share.
The board approved a proposal for buy-back of up to 40 lakh fully paid-up shares, representing 1.41 per cent of the total number of equity shares of the company, for a consideration not exceeding ₹4,000 crore.
The buyback would be through tender offer on a proportionate basis, from equity shareholders including promoters, members of promoter group and persons acting in concert, as on the record date, which will be announced later.