The board of Techno Electric & Engineering Company has approved the buyback of up to 26.82 lakh shares at ₹410 a share. The company will buy back from all the existing shareholders as on record date on proportionate basis through the tender offer method. The board noted the intention of the promoter of the company not to participate in the proposed buyback. The maximum shares proposed to be bought back represent 2.38 per cent of the total paid-up equity shares of the company. While the shares of Techno Electric & Engineering are temporarily suspended on the BSE due to the impending merger of Simran Wind Project with itself, on the NSE, they closed 5 per cent higher at ₹245.

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