Sugar manufacturing company has proposed to buyback 1 crore equity shars for an amount not over Rs. 180 crore.
It has offered to “buyback up to one crore fully paid-up equity shares of the company of face value of Rs 1 each, representing 4.55 per cent of the issued, subscribed and paid-up equity shares of the c .. ompany, from all eligible shareholders”, as per the filing.
The record date has been fixed as July 3, 2020.
The buy back will take place on a proportionate basis, through the ‘tender offer’ process at a price of Rs 180 per equity share, payable in cash, for an aggregate maximum amount not exceeding Rs 180 crore, the filing said.
