Al Dubai luxury
  • Please enable News ticker from the theme option Panel to display Post

Bajaj Auto buyback: Bajaj Auto share buyback for raising up to 4,000 crore will open on March 6 and close on March 13.

The buyback entitlement for the reserved category is set at 7 shares for every 27 shares held on the record date. For the general category, the buyback entitlement is set at 1 share for every 82 shares held on the record date.

The board of directors of Bajaj Auto had fixed the record date for Bajaj Auto buyback on 29th February 2024. The auto major has declared a buyback of shares through the tender route.

Also Read: Bajaj Auto buyback: Price, record date, ratio, other details. How to apply online — Zerodha explains

Bajaj Auto buyback price is set at 10,000 per share, which is around 24% higher than its Monday’s closing price of 8,042.75 apiece.

The company’s board had approved to buyback up to 40,00,000 fully paid-up equity shares having a face value of 10 each at 10,000 per equity share for an aggregate amount not exceeding 4,000 crore.

This amount works out to 16.33% and 14.49% of the total issued and fully paid-up equity share capital and free reserves, respectively, and represents approximately 1.41% of the total issued and paid-up equity share capital of the company, as of March 31, 2023.

Bajaj Auto’s promoters and promoter group have expressed their intention to participate in this share buyback and may tender up to an aggregate maximum of 18,75,657 equity shares.

The promoters and promoter group currently hold 54.94% of the total equity share capital of Bajaj Auto.

Bajaj Auto buyback is on a proportionate basis through the “Tender Offer” route and in this regard, the company will request the stock exchanges to provide the acquisition window for facilitating the tendering of equity shares under the buyback. For the purpose of this buyback, BSE will be the designated stock exchange, Bajaj Auto said.

(To be updated)

Here’s your comprehensive 3-minute summary of all the things Finance Minister Nirmala Sitharaman said in her Budget speech: Click to download!

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

100% secure your website.