Matrimony.com Shares Zoom 10% As Board To Meet Soon For Buyback

Matrimony.com Ltd shares on Tuesday surged nearly 10% as Board of Directors will hold meeting on September 5, 2024 to consider the proposal for buyback. Matrimony.com shares also hit fresh 52-week high today with current market price stood at Rs 815.25 per share. If the buyback proposal gets approvel of Board on September, it will be second buyback for Matrimony.com. Earlier, Matrimony.com carried out a buyback in July 2022. Matrimony.com Ltd. shares offered return of more than 10% in last 1-week and soared 54% in last 6-months. The company's market capitalisation stood at Rs 1817.68 crore. Check details below:

Matrimony.com Ltd To Consider Buyback on September 5, 2024: According to the BSE filing of Matrimony.com Ltd dated September 2, 2024, "This is to inform you that a Meeting of Board of Directors of the Company will be held on September 5, 2024, inter-alia, to consider and approve, the proposal for buy back of its fully paid up equity shares of the Company and the matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013, including Rules framed thereunder, the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, and other applicable laws."

Matrimony.com in 2022 had given nod to a buyback proposal with a final price of Rs 1150 apiece and a total offer size at Rs 75 crore.

Matrimony.com Shares Performance: The 52-week high price of Matrimony.com shares on BSE is Rs 848.00 per share (as on 03/09/2024) and 52-week low price is Rs 499.00 per share (as on 20/02/2024), respectively. Matrimony.com shares gave return of over 15% in last 2-weeks, zoomed 39% in last 3-months, offered return of 54% in last 6-months, and jumped 28% in last 1-year. In last 2-years, Matrimony.com shares gained 16% and slipped 19%.

Matrimony.com Dividend: The company declared final dividend of Rs 5 per share and fixed August 2, 2024 as the record date. As per the BSE filing of Matrimony.com issued as on July 15, 2024, "With reference to the above subject, we would like to inform you that the Company has fixed "Friday", 02nd August 2024" as record date for the purpose of determining the eligible shareholders towards payment of Dividend." The Annual General meeting was held on 09th August 2024.

What Is Share Buyback? Buyback of share takes place a company buys its own outstanding shares from the market with the help of its accumulated profits or reserves. Buyback of share brings down the number of shares outstanding in the open market and also acts as a tool to return cash to investors.

Matrimony.com About: It is engaged in providing online matchmaking services on internet and mobile platforms. Matrimony.com offers matchmaking services to users in India and the Indian diaspora through websites, mobile sites and mobile apps complemented by a wide on-the-ground network in India.