BSE Limited plans to buy back its fully paid up equity shares with a face value of Rs 2 each at Rs 680 per share through the tender offer route. The total buyback size will be a maximum of Rs 460 crore. Shares of BSE Ltd closed at Rs 614.80 apiece on Wednesday.
The company proposes to buy back 67.64 lakh equity shares which represents 13.06 percent of the total paid-up equity capital. The buyback offer size represents 24.73 percent of aggregate of the total paid up capital and free reserves.
The stock exchange also declared its financial results for the March 2019 ended quarter. BSE's operational revenue rose by 11 percent to Rs 115.69 crore from Rs 104.68 crore in the previous quarter.
The operating EBITDA turned positive to Rs 2.38 crore in the fourth quarter when compared to the negative Rs 4.55 crore. Its net profit for March grew by 4 percent to Rs 51.86 crore from Rs 50.07 crore in the previous quarter.
Its standalone net profit was at Rs 201.05 crore during the financial year 2018-19. The operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) was Rs 25.32 crore as per standalone results.
The board recommended paying a dividend of Rs 25 per equity share of face value of Rs 2 each. Taking into account the interim dividend of Rs 5 per share previously paid in the month of December 2018, the total dividend for the financial year stands at Rs 30 per share.
The dividend payout ratio stands at 97 percent. The record date for determining eligibility for the final dividend is 28 June and the payment will be made on or before 13 August.