Matrimony.com surged 7.95% to Rs 832 after the company's board fixed 4 July 2022 as the record date for the proposed share buyback.
The company's board approved buyback of equity shares worth upto Rs 75 crore at final buyback price of Rs 1,150 per share.The maximum buyback price represents 49.21% premium to the scrip's yesterday's closing price of Rs 770.70.
With the buyback price of Rs 1,150 per equity share and the buyback size of upto Rs 75 crore, the total number of shares to be bought back in the buyback shall be upto 6,52,173 equity shares, representing 2.85% of the total paid up equity share capital of the company.
Matrimony.com delivers matchmaking and marriage related services to users in India and the Indian diaspora and is the manager of brands such as Bharat Matrimony, Community Matrimony and Elite Matrimony. The company has pioneered several new business models such as WeddingBazaar.com, Mandap.com and CommunityMatrimony.com, a consortium of over 300 community matrimony websites.
The company reported 15.6% rise in consolidated net profit to Rs 11.7 crore on a 9.4% increase in revenue from operations to Rs 110.6 crore in Q4 FY22 over Q4 FY21.
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