eClerx Approves Buyback At 18% Higher Price Over Current Market Price

E-Clerx, the process management and data analytics firm has approved the final buyback price of Rs. 2850 per share and the aggregate amount of buyback of up to Rs. 303 crore.

eClerx Approves Buyback At 18% Higher Price Over Current Market Price

"Final Buy Back price of Rs. 2,850/- (Rupees Two Thousand Eight Hundred and Fifty Only) per equity share (the "Buy Back Price" ) and the aggregate amount of Buy Back upto Rs. 3,030 Million (Rupees Three Thousand and Thirty Millions Only) (the "Buy Back Size") excluding any expenses incurred or to be incurred for the Buy Back viz. brokerage costs, fees, turnover charges, taxes such as securities transaction tax and goods and services tax (if any), tax on distributed income on Buy Back, stamp duty, advisors fees, filing fees, public announcement expenses, printing and dispatch expenses, if any, and other incidental and related expenses and charges etc", said the BSE filing.

"Fixed Thursday, September 30, 2021, as the record date for the purpose of determining the names of the equity shareholders who are eligible to participate in the Buy Back and their entitlements", added the release.

The buyback price of Rs. 2850 per share is almost 18% higher than the last traded price of Rs. 2411 per share. The buyback will propel fresh huge volume into the stock.

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