Saturday, June 15, 2024
Home News Emami approves buyback of shares at 25% premium. 5 key things you...

Emami approves buyback of shares at 25% premium. 5 key things you should know

Buyback of Offers: The proposal to buy back shares has been considered and approved by Emami Limited’s Board of Directors. The Emami buyback plan was made public by the multinational conglomerate with its headquarters in Kolkata, announcing a price of 450 per share. Due to Emami’s current share price, a share buyback of Rs 360 per share has been announced—a 25% premium. The stock exchange mechanism will be used to carry out this Emami buyback in the open market.

“The Board has approved the proposal for buyback of fully paid-up equity shares of face value of Re 1/- (Rupee One only) of the company,” Emami Limited stated informing Indian markets about the share buyback. more than Rs. 450 per equity share (the “Maximum Buyback Price”) and not more than Rs. 18,600 lakhs (the “Maximum Buyback Size”) in total (the “Maximum Buyback Size”).

Before offering shares, Emami shareholders must be aware of the following five essential details:

1] The repurchase cost of Emami: The multinational conglomerate with its headquarters in Kolkata has announced the purchase of up to 450 shares at a time.

Date of Emami buyback: The board of Emami has yet to make a decision regarding the record date for the buyback of the company’s shares.

The Emami Buyback Method: The open market mechanism will be used instead of the stock market to carry out this Emami buyback.

4] Buyback Acceptance Ratio for Emami: The buyback of shares has been announced at a premium of approximately 25% to Rs 360 per share due to Emami’s current share price. As a result, shareholders are anticipating a large number of applications. As a result, it is expected that the Emami buyback acceptance ratio will remain low.

Size of Emami Buyback: The buyback, Emami Limited informed the Indian markets, would not exceed 186 crores.

“The company shall utilize at least 75% of the prescribed amount as the maximum buyback size, i.e. 13,950 lakhs (Rupees Thirteen Thousand Five Hundred Lakhs only)” “The company will buy an indicative minimum of 3,100,000 equity shares based on the minimum buyback size and maximum buyback price,” Emami stated.

Additionally, the Emami Limited Board of Directors established a Committee for the Buyback (the “Buyback Committee”) and granted the Buyback Committee authority to carry out or have carried out any and all of the foregoing. consider necessary in relation to the buyback of shares at its discretion.

Disclaimer: o2help is not responsible for the opinions or recommendations expressed above, which are those of individual analysts or brokerage firms. Before making any investment decision, we recommend that investors consult licensed professionals.


Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...


Please enter your comment!
Please enter your name here


Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments