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IT infrastructure provider Gemini Communications today said its board has approved buy-back of equity shares at a price of Rs 45 apiece from open market.
“The Board has considered and approved, subject to the approval of the shareholders of the company, and other such approvals or consents as may be necessary, the buyback of the Company's equity shares at a price not exceeding Rs 45 per equity share and up to an aggregate amount of Rs 29 crore,” Gemini Communications informed Bombay Stock Exchange. The stock gained 7.5 per cent to Rs 28.50 on the BSE, on Tuesday.
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