The board of Cosmo Films on Monday approved buyback of shares worth ₹73 crore. The company will buyback 12.67 lakh shares, representing 6.52 per cent, of the total paid-up capital as on March 31, 2020, at ₹576 a share, Cosmo Films informed the exchanges.

The buyback would on a proportionate basis, from all the shareholders of the company who hold the shares as of the record date (November 9) through the tender offer. The board noted the intention of its promoters and promoter group to participate in the buyback. Shares of Cosmo Films on Monday closed 0.94 per cent higher at ₹471.65 on the BSE.