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The board of Ajanta Pharma on Tuesday approved a proposal to buyback ₹135.97 crore worth shares. Accordingly the company plans to buyback 7.35 lakh shares (representing 0.84 per cent of the total paid-up share capital) at ₹1,850 a share. The buyback would be on a proportionate basis through a tender offer route. The board has taken note of the intention of certain members of promoters and promoter group of the company to participate in the proposed buyback. The board has fixed November 13 as the record date for determining the eligible shareholders to participate in the buyback. Shares of Ajanta Pharma closed ₹1,609.95 on the BSE.
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