[ad_1]
Kaveri Seed buyback 2022: The board of directors of the leading largest agriculture company in India, specializing in hybrid seeds in key Indian crops announced buyback of shares in the week gone by. The agriculture company board announced this buyback of shares at a price not exceeding ₹700 per share, which means the offer is made at a premium of near 45 per cent as Kaveri Seed Company share price ended at ₹482.50 apiece levels on NSE on Friday deals. Buyback will done via open market route, announced Kaveri Seed Company Ltd in its latest exchange filing.
Informing about buyback of shares to Indian stock market exchanges, Kaveri Seed Company Ltd said, “The board at its meeting today considered and approved the proposal for the buyback of the company’s fully-paid equity shares having a face value of ₹2/- each for an aggregate amount not exceeding ₹125.6 crore excluding any expenses incurred or to be incurred for the Buyback viz. brokerage, costs, feet turnover charges, taxes such as buyback tax, securities transaction tax, goods and services tax (if any) and income tax, stamp duty, advisors fees, printing expenses, filing fees and other incidental and related expenses and charges, and at a price not exceeding ₹700/- payable in cash from its shareholders/beneficial owners from the open market.”
Here we list out important Kaveri Seed buyback details in 10 points:
1] Kaveri Seed buyback price: The company has announced buyback of shares not exceeding ₹700 per equity share.
2] Kaveri Seed buyback premium: Kaveri Seeds share price today is ₹482.50 and buyback price offered is ₹700, which means buyback premium available is around 45 per cent.
3] Kaveri Seed buyback size: The company has announced to use its reserves not exceeding ₹125.65 crore for this buyback offer.
4] Kaveri Seed buyback route: The company will execute this buyback offer via open market route.
5] Kaveri Seed buyback size in stocks: The buyback would not go beyond 17.95 lakh company shares, which is 3.08 per cent of the existing paid up capital of the company.
6] Kaveri Seed buyback time: Buy-back period shall in any case close within six months from the date of opening of the offer.
7] Kaveri Seeds buyback compliance officer: Agriculture company board has appointed KV Chalapathi Reddy as compliance officer of the buyback offer.
8] Kaveri Seeds buyback record date: The company is yet to announce buyback record date.
9] Kaveri Seeds buyback subscription date: The company is yet to announce buyback offer opening date.
10] Kaveri Seed buyback acceptance ratio: The acceptance ratio of the offer is expected to remain low as the stock is bear-hit and higher number of people are expected to apply for this buyback offer.
Download The Mint News App to get Daily Market Updates.
[ad_2]
(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
Source link