Gandhi Special Tubes on Thursday said it has received approval from SEBI for its proposed buyback. The company plans to purchase up to nine lakh shares at ₹550 a share, aggregating to ₹49.50 crore, which is 6.51 per cent of the total paid-up equity share capital. The buyback offer will open on September 25 and close on October 10. The buyback is through a tender offer on proportionate basis. It had fixed August 16 as the record date to identify eligible shareholders. Shares of Gandhi Special Tubes gained 2.27 per cent at ₹304.75 on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.