Pharmaceutical firm Aarti Drugs today said its board has approved the buyback up to 3.6 lakh equity shares of the company payable in cash for an aggregate amount of up to Rs 27 crore.
The board of directors of the company approved the buyback up to 3,60,000 fully paid—up equity shares of face value of Rs 10 representing up to 1.49 per cent of the total number of its shares at a price of Rs 750 per share payable in cash for an aggregate amount of up to Rs 27 crore, Aarti Drugs said in a filing to BSE.
This excludes transaction costs, it added.
“Members of the Promoter and Promoter Group of the company have indicated their intention to participate in the proposed buyback,” Aarti Drugs said adding November 2, 2016 has been fixed as the record date for the proposed buyback.
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