Bajaj Auto Restricted, a number one car producer, has revealed plans for a major buyback program. The corporate goals to repurchase as much as 40,00,000 totally paid-up fairness shares at a value of INR 10,000 per share, totalling INR 4,000 crore. This transfer is a part of the corporate’s technique to boost shareholder returns and enhance key monetary metrics.
The buyback provide, which is open from March 6 to March 13, 2024, is offered to each resident and non-resident shareholders. The report date for figuring out buyback entitlement is February 29, 2024. Small shareholders holding as much as 25 shares are categorized individually, and the Promoters and Promoter Group can also take part within the buyback.
The corporate’s monetary statements present constant development in income and internet revenue through the years, reflecting a robust efficiency available in the market. The buyback will probably be funded from free reserves, and an escrow account has been arrange to make sure transparency and compliance with rules.
Shareholders are inspired to evaluate the detailed data supplied by Bajaj Auto Restricted earlier than taking part within the buyback program.
