Smartlink Holdings board approves buyback proposal

The board of Smartlink Holdings on Friday approved a buyback proposal. Accordingly, the company plans to buy back shares not exceeding 42 lakh (approximately 24.78 per cent of the total paid-up equity capital of the company) at a price not exceeding ₹130 a share for an aggregate amount not exceeding ₹54.60 crore on proportionate basis, through the tender offer route. The record date to identify eligible shareholders will be announced later, it said. Shares of Smartlink Holdings jumped 11.88 per cent at ₹108.30 on the BSE.