KDDL board approves share buyback

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Capital Market
Last Updated : Jan 19 2023 | 9:50 AM IST

The company's board approved buyback worth upto Rs 21 crore at a price not exceeding Rs 2,100 each.

At the maximum buy-back size and the maximum buyback price, the indicative maximum number of equity shares to be bought back under the buyback would be 1,75,000 equity shares, representing 1.37% of paid-up equity shares of the company.

The maximum buyback size represents 9.73% and 8.47% of the aggregate of the total paid-up equity share capital and free reserves of the company.

As on 13 January 2023, promoters and promoter group held 49.26% in the company.

Assuming the buyback of maximum buyback shares, promoter group holding will increase to 49.95%.

Shares of KDDL fell 2.95% to Rs 1036.25 on the BSE. The maximum buyback price is 102.65% premium to the ruling market price.

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Jan 19 2023 | 9:42 AM IST

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