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.
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.
Digital twins market soars as e-tailers improve their offerings
Ola closes the used car and fast trade businesses