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Assuming a full buyback of Rs 850 crore and applicable buyback taxes, the total outlay would be in excess of approximately Rs 1,048 crore
The buyback proposal comes less than 13 months of Paytm's disastrous listing, which saw its shares tank as much as 80 per cent
51 companies have announced Rs 37,519-crore buybacks so far
The stock underperformed both the Nifty and the Nifty IT index, which fell 1.5% and 2%, respectively
The company had issued a tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed senior notes of USD 1 billion due 2024.
IT services major Infosys on Monday said it has bought back over 55.8 million equity shares as part of its about Rs 9,200 crore buyback offer
The programme is designed to enable wealth creation opportunities for over 600 employees
The buyback could be worth Rs 10,000 - 12000 crore (around 2 per cent of market cap) at a price of Rs 1650- 1670 per share, a media report said
Thus far in calendar year 2020 (CY20), Wipro has gained 54.2 per cent as compared to 13.72 per cent gain in the benchmark S&P BSE Sensex
The board will meet on Monday, October 19, 2020 to consider the proposal for buy back of fully paid-up equity shares of the company
The TCS board has approved a buyback amounting to Rs 16,000 crore; to buy back 53.3 million shares at Rs 3,000 apiece
The regulator, in May, had granted one-time relaxations from strict enforcement of SAST Regulations and norms for buyback of securities through open and buyback tender offers
The buyback committee of the company, at its meeting held today, has approved the closure of the buyback
A promoter can announce a buyback, extinguish some shares and cash in