BSE Raises Buyback Offer Price To Rs 1,080, Shares Surge To Record Highs

The shares of Bombay Stock Exchange (BSE) on Friday surged over 7% to Rs 1,138.80 after the company announced to increase the buyback offer price to Rs 1,080 from Rs 816.

In addition, BSE's board of directors stated in the filing that it has approved an increase in the offer price for its proposed share purchase and had also set the record date for the same on Thursday, September 14, 2023.

"Increase in the Buyback Offer Price from ₹ 816/- (Indian Rupees Eight Hundred and Sixteen only) per Equity Share to ₹ 1080/- (Indian Rupees One Thousand and Eighty Only) per Equity Share ("Revised Buyback Offer Price"), payable in cash, for an aggregate maximum amount not exceeding ₹ 3,74,80,00,000/- (Indian Rupees Three Hundred Seventy Four Crore and Eighty Lakhs only) (Buyback Offer Size), excluding any Transaction Costs," the Company said in exchange filing.

It added, "The resultant Equity Shares to be bought back at the Revised Buyback Offer Price are 34,70,370 Equity Shares, representing 2.56% of the total number of Equity Shares in the total paid-up equity capital of the Company as on March 31, 2023."

The recent development follows the company's stock price's recent increase. Since the repurchase announcement on July 3, when it was first announced, the stock has increased nearly by 80%. The stock price is currently higher than the new offer price.

The shares of BSE closed Rs 1,126.15 on the NSE, up 5.96%. The stock gained 24.67% in the past 1 week, and 33.75% in 1 month. In 1 year, it has given 72.6% positive return. In 3 and 5 years, it has given 570.19% and 356.67% positive returns.

Its 52-week high is Rs 1,138.80 per share and its 52-week low is Rs 406.20 per share. The company has a market cap of Rs 15,255.15 Crore.