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The board of SIS Ltd, formerly Security and Intelligence Services (India), has approved a proposal for buyback of fully paid-up equity shares of the company worth ₹100 crore. The buyback would be from all shareholders as on record date, which will be decided subsequently, on a proportionate basis, through the "tender offer" route. The board approved a price of ₹550 a share to buyback 18.18 lakh shares, representing 1.24 per cent of the total number of equity shares in the company’s total paid-up equity capital as on March 31, 2020. Shares of SIS Ltd, which jumped almost 5 per cent to ₹465, closed at ₹433.80, up 1.80 per cent, on the BSE.
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