2 Buybacks Currently Open: Check Details

Buybacks similar to any other corporate action are aimed to achieve the listed company goal. Say as in the case of a Buyback- companies aim to reduce the supply of outstanding shares and hence buyback the stipulated number of shares usually at a premium. The buyback may also be aimed at preventing other shareholders from taking a controlling stake.

Here are the 2 buybacks that are open currently:

1. Emami:

The personal care company on February 3, 2022 announced share buyback of Rs. 162 crore at a price of Rs. 550 per share. "The indicative maximum number of Equity Shares proposed to be bought back at the Maximum buyback Size and Maximum buyback Price would be 29,45,455 shares at Rs. 550 per Share", said the exchange filing. At the current share price of Rs. 499.7, this is a premium of 10 percent over the buyback price.

The buyback through the open market offer will open on February 9 and will close on August 8, 2022. The record date for the buyback is not announced as it is an open market buyback.

Emami is a reputed FMCG company and manufactures products across categories such as Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care product.

2. Ajanta Pharma:

The pharma company opened the buyback of its shares on February 3 and the same shall close on February 16, 2022. The offer is through the tender route. For the same, the company has decided the price of Rs. 2550, while the scrip latest trades at a price of Rs. 2068.85, a premium of 23%.

In the said buyback, the company proposed to buyback 11.20 lakh shares of the company. The record date for the said issue has been January 14, 2022 i.e. shareholders who hold the shares of the company as on the record date will be eligible for tendering their shares in the buyback.

Ajanta Pharma is a mid cap specialty pharma company that is into the development, manufacturing as well as marketing of quality finished products. The company is into targeting different therapeutic areas and its business mainly comprises Branded Generics.

Buybacks	Buyback period	Route	Buyback price
Emami	February 9-August 8, 2022	Open market	Rs. 550
Ajanta Pharma	February 3- February 14, 2022	Tender	Rs. 2550

 

Disclaimer:

The above story is just for informational use and the investors considering the pros and cons may consider tendering their shares in the buyback.

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