Comments
Shareholders of Granules India have approved a buyback proposal. Earlier, the company’s board had approved the buyback worth ₹250 crore. It had cleared a proposal to buyback up to 1.25 crore shares for an amount not exceeding ₹250 crore, being 4.92 per cent of the total paid-up equity share capital, at ₹200 a share.
The buyback is proposed to be made from all existing shareholders as on the record date on a proportionate basis under the tender offer route. The proposal received the approval of 91.76 per cent institutional investors and 98.53 per cent non-institutional investors (retail and high net worth individual investors). Shares of Granules India last traded at ₹161.70 on the BSE.
Comments
COMMENT NOW
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.