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Bajaj Auto To Consider Buyback Of Shares In Its June 14 Board Meeting
The auto two and three-wheelers entity in its BSE filing intimated about the buyback of shares. The company in a filing dated June 10, 2022 said, "the meeting of Board of Directors of the Company is scheduled to be held on Tuesday, 14 June 2022, inter-alia to consider a proposal for buyback of fully paid-up equity shares of the Company in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018".
"Further, the trading window for dealing in the securities of the Company is closed from 9 June 2022 to 16 June 2022 (both days inclusive), for the designated persons as per the Company's Code of Conduct framed pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended", adds the company.
The company last announced share buyback in 2000 and agreed for a 18 million equity shares buyback at a price of Rs. 400 each.
Buyback of shares is when the company tries to reduce its equity capital in the market and buys back the shares from its shareholders generally at a premium to the current market price. Through such an exercise there can be an increase in EPS as outstanding shares in the market reduce.
