Sugar major Balrampur Chini Friday announced buyback of more than 84 lakh shares for ₹ 148 crore.
In a regulatory filing, the company informed that its board has approved the buyback of up to 84,38,327 equity shares (representing up to 3.69 per cent of the total paid-up share capital of the company as on March 31, 2018) at a price of ₹175 per share .
The buyback offer is of up to ₹147.67 crore.
Promoters, who have around 40 per cent stake in the company, would participate in the buyback offer.