Savita Oil to buy back at ₹1,390/share

Our Bureau Chennai | Updated on February 19, 2021

The board of Savita Oil Technologies Ltd on Friday approved a buyback proposal of up to 2.51 lakh shares at ₹1,390 a share. The buyback size represents up to 1.78 per cent of the total number of equity shares in the total paid-up equity capital of the company. The buyback would be on a proportionate basis through the tender offer. The board also took note of intention of certain members of the promoter group to participate in the proposed buyback. The board has fixed March 5, as the record date for the purpose. Shares of Savita Oil closed 7 per cent higher at ₹1,107.70 on the BSE.

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Published on February 19, 2021
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