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The Board of HSIL at its meeting held on 21 September 2020 has approved the proposal for buyback of fully paid-up equity shares of the face value of Rs 2 each from open market through Stock Exchanges at a maximum buyback price of ₹105/share for an aggregate amount of ₹70 crore.
At maximum buyback price and offer size, the indicative number of equity shares to be repurchased would be 66,66,667 shares which is 9.22% of the total number of equity shares of the company.
Shares fell as much as 10.2 per cent to ₹78 in early trade. After cooling off, the stock currently trades 4.17 per cent higher at ₹73.70.
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