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The board of Rishiroop on Friday approved a buyback proposal worth ₹8 crore. The company will buyback up to 6.40 crore shares, representing up to 6.60 per cent of its paid-up equity capital, at ₹125 a share. The buyback will be on a proportionate basis through tender offer. The Board took note of intention of members of the promoter and promoter group including person in control of the company to participate in the proposed Buyback. The Board has determined the record date as September 9. Shares of Rishiroop closed 3.5 per cent lower at ₹104.60 on the BSE.
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