A share buyback, also known as share repurchase, is a corporate action to buy back its own outstanding shares from its existing shareholders.
• Shares of Bajaj Consumer Care rose over 3% to ₹184 per share on the BSE in Friday afternoon deals
Shares of Bajaj Consumer Care Ltd rose over 3% to ₹184 per share in Friday's afternoon deals on the BSE after the company said its board has approved the subscription of 33.7 lakh shares worth ₹80.9 crore at ₹240 per share through the open market. Buyback has been approved. ,
“The Board of Directors of Bajaj Consumer Care Limited, at its meeting held today i.e. December 9, 2022, has considered and approved a proposal for buyback of fully paid-up equity shares of the company of face value of Rs.1/- each Gave. from all shareholders/beneficial owners of Equity Shares of the Company through the "open market" route at a price not exceeding INR 240/- (Indian Rupees Two Hundred Forty Only) per Equity Share. The aggregate amount does not exceed ₹8,089.00 lakh," the company said.
A share buyback, also known as share repurchase, is a corporate action to buy back its own outstanding shares from its existing shareholders, usually at a premium to the prevailing market price. This can be an alternative tax-efficient way of returning money to shareholders. Share buybacks reduce the number of shares in circulation, which can increase share price and earnings per share (EPS).
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