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The buyback offer to the shareholders of Dhanuka Agritech opened today. Earlier, the company had approved the proposal of buyback of shares worth up to ₹100 crore and fixed September 28 as the record for determining the entitlement of equity shareholders.
Accordingly, the company plans to buy back up to 10 lakh equity shares at a final buyback price of ₹1,000 a share.
Shareholders whose name had appeared on the company's record book as on September 28, 2020, are only eligible to participate in the buyback, which would be on a proportionate basis through tender route.
The offer closes on November 3.
In the morning deals, the stock touched an intraday high of ₹719.5 (2.84%) on the BSE. It's currently hovering around ₹712.25 apiece.
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