On Thursday, Aster DM Healthcare said that its board of directors approved a proposal to buyback up to 57.14 equity shares of the company for Rs 120 crore at the rate of Rs 210 each.
"We wish to inform you that the Board of Directors of Aster DM Healthcare Limited (the "Company") at its meeting held on January 09, 2020 approved a proposal to Buy-back up to 57,14,285 (Fifty seven lakhs fourteen thousand two hundred and eighty five only) equity shares of the Company for an aggregate amount not exceeding Rs. 120 crores (Rupees One Hundred and Twenty Crores only) (the "Buyback Size"), being 1.13% of the total paid-up equity share capital, at Rs. 210 (Rupees Two Hundred and Ten only) per equity share (the "Buyback")," it said.
"The Board has determined January 24, 2020 as the record date for the purpose of determining the entitlement and names of the shareholders eligible to participate in the Buyback," it added.
Shares of Aster DM Healthcare Ltd rose over 7 percent on Thursday to an intraday high of Rs 171.70 after the company made the announcement.