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J B Chemicals & Pharmaceuticals shares rose nearly 6% today on the back of announcement by the company that it would buy back shares from eligible shareholders at a price of Rs 440.
At 1.50 pm, the J B Chemicals stock was quoted at Rs 422.75, up by Rs 20.55 or 5.11% on the BSE. Volumes traded in the counter were around 37,000 shares, which was five-times the two-week average quantity of 7,374 shares.
J B Chemicals & Pharmaceuticals has informed the BSE last Friday that it is making an offer to shareholders to buy-back up to 29,54,545 (Twenty Nine Lakh Fifty Four Thousand Five Hundred Forty Five) fully paid up Equity Shares of the Company of face value of (Rupees Two only) each at a price of Rs 440/- (Rupees Four Hundred and Forty Only) from all the eligible shareholders of the company holding equity shares on the Record Date, Friday, November 22,2019.
The Buy-back offer will open on Monday, December 16, 2019 and will close on Monday, December 30, 2019.
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