Welspun India to Buy back Shares worth Rs 200 Cr

Welspun India Limited board has approved a proposal for the buyback of not exceeding 1,66,66,666 fully paid-up equity shares of face value Re1/- each representing 1.66% of the paid-up share capital of the company for an aggregate consideration not exceeding Rs 200cr.<

BY Realty Plus
Published - Friday, 21 May, 2021

Welspun India to Buy back Shares worth Rs 200 Cr

Welspun India Limited board has approved a proposal for the buyback of not exceeding 1,66,66,666 fully paid-up equity shares of face value Re1/- each representing 1.66% of the paid-up share capital of the company for an aggregate consideration not exceeding Rs 200cr. “The Board has approved a proposal for the buyback of not exceeding 1,66,66,666 fully paid-up equity shares of face value Re1/- each representing 1.66% of the total number of fully paid-up equity shares in the paid-up share capital of the company from the shareholders of the company,” the company said.. The shares will be at a price of Rs120/- per equity share payable in cash for an aggregate consideration not exceeding Rs 200cr representing 6.36% & 6.04% of the aggregate of the fully paid-up equity share capital and free reserves (including securities premium) as per the audited standalone and consolidated financial statements of the Company, respectively for the financial year ended March 31, 2021.