News

HCL Tech announces ₹4,000 -crore buyback

Our Bureau New Delhi | Updated on July 12, 2018 Published on July 12, 2018

Noida-based IT major HCL Technologies has approved the buyback of equity shares worth ₹4,000 crore at ₹1,100 per share.

“The company has approved the buy-back of 3.64 crore paid up equity shares of face value of ₹2 each, representing 2.61 per cent of the fully paid-up equity shares of the company outstanding as on March 31, 2018 and as of now,” the company said in its BSE filing.

The buyback will not exceed ₹4,000 crore, which is 14.83 per cent and 11.59 per cent of the fully paid-up equity capital and free reserves (including security premium account).

The buyback is subject to the approval of the shareholders by way of a special resolution through Postal Ballot and all other approvals as may be required, the report said.

Last year HCL had announced buyback of shares worth ₹3,500 crore. Shares of the company closed at ₹1,005.30 on the BSE on Thursday, up 1.03 per cent from previous close.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 12, 2018
This article is closed for comments.
Please Email the Editor