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Amrutanjan Health Care Ltd has informed BSE that a meeting of the board of directors of the company will be held on May 3 to consider and approve the proposal for buy-back of equity shares of the Company.
However, no other details were available on the proposed buyback.
The stock closed at Rs 644.70, up 0.35 per cent over the previous day's close.
Earlier, the company had made similar announcement in March 2010, but had to withdraw the offer (in July 2010) as the share price shot up sharply. The company had indicated a maximum offer price of Rs 550 a share, but the stock price touched as high as Rs 872, forcing the company to withdraw the plans.
According to March-end shareholding pattern, promoters hold 48.61 per cent stake in the company, and retail investors (about 14,000 shareholders) 39.43 per cent, and HNIs hold 3.29 per cent stake. Bodies corporate is also holding about six per cent stake in the company.
The market-cap of the company is Rs 195 crore.
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