the board of Bajaj Auto Ltd Monday approved the fully paid-up equity repurchase proposal shares of non-promoter shareholders and persons who control the company from the open market at a price not exceeding Rs 4,600 per share.
In a regulatory application,bajaj Auto said the board has approved the repurchase of shares with a nominal value of Rs 10 each for a price not to exceed Rs 4,600 per share and that the total amount should not exceed Rs 2,500 crore.
In a regulatory application,
The share buybacks represent 9.61 percent and 8.71 percent of the total of the total paid-up share capital and free reserves (including securities premium account), Bajaj Auto said.
A Buyback Committee has been formed to carry out the task.
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