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Capital markets regulator Sebi on Wednesday imposed restrictions on the placement of bids, price and volume for the companies undertaking share buyback through the stock exchange route. Under the restrictions, a company will not be able to purchase more than 25 per cent of the average daily trading volume (in value) of its shares in the 10 trading days preceding the day in which such purchases are made, Sebi said in a circular. Among others, the company will not place bids in the pre-open market, first 30 minutes and the last 30 minutes of the regular trading session and the firm's purchase order price should be within the range of 1 per cent on either side from the last traded price. Sebi asked companies as well as appointed brokers to ensure compliance with the provisions. The stock exchange will monitor their compliance and in case of any instance of such non-compliance will impose appropriate fines or other enforcement actions as deem fit. Currently, for share buyback, compani
Digital financial services firm One97 Commuications, which operates under the Paytm brand, on Tuesday said it has completed buyback of shares worth Rs 849.83 crore at an average price of Rs 545.93 per share. The company bought back shares in the price range of Rs 702.65 to Rs 480.25 apiece, according to a regulatory filing. "The company bought back an aggregate of 1,55,66,746 equity shares utilising a total amount of Rs 849,83,39,982, which represents 99.98 per cent of the maximum buy-back size. The price at which equity shares were bough back was dependent on the price quoted on the stock exchanges," the company said. The Paytm board had approved buyback of shares worth Rs 850 crore on December 13, representing 6.67 per cent of the total paid-up share capital between December 21, 2022 to February 13. During the buyback period, Chinese e-commerce major Alibaba sold its entire direct stake in the company in two tranches. However, the company's group firm Ant Financial continues to
Dhanuka Agritech Ltd on Monday said its buyback offer for shares worth Rs 85 crore will open on December 26. The buyback will close on January 6, 2023, the company said in a regulatory filing. The company has proposed to buy back 10 lakh shares of face value of Rs 2 each at Rs 850 per share for an aggregate amount of Rs 85 crore through a tender offer process. The board approved the buyback of shares in a meeting held on November 1, 2022.
Digital financial services firm Paytm on Thursday said its board will meet on December 13 to consider a proposal for share buyback keeping in mind the company's liquidity position which may be beneficial for its shareholders. Paytm has a liquidity of Rs 9,182 crore, as per its last earnings report. Liquidity of a company is measured by its ability to covert assets into cash. "The meeting of board of directors of the company is scheduled to be held on Tuesday, December 13, 2022 to consider a proposal for buyback of the fully paid-up equity shares of the company," Paytm said in a BSE filing. The company's revenue in the last quarter was Rs 1,914 crore. "The management believes that given the company's prevailing liquidity/financial position, a buyback may be beneficial for our shareholders," the filing said. The company in its recent analyst meeting, where it had outlined key growth drivers, had said that it expects to become cash flow positive in the next 12-18 months. Paytm got