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On Friday, KPR Mill announced the b¬uyback offer to the equity shareholders/ beneficiary owners of equity shares of KPR Mill through tender offer. The maximum amount required by the company for the said buyback of about ₹97 crore will be met out of cash of the company lying with the bank.
The buyback offer price of ₹660 an equity share has been arrived at after considering various factors such as the closing price of the equity shares on the stock exchanges, the networth of the company and the impact of the buyback on the earnings per equity share. The buyback offer price an equity share represents a premium of about 10.06 per cent. The stock fell 1.7 per cent to close at ₹597.5, on the BSE.
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