Aarti Drugs share buyback

Aarti Drugs Announces Rs 59.85 Crore Share Buyback at 48% Premium – Record Date Set for September 5

In a bold financial move, Aarti Drugs has announced a Rs 59.85 crore share buyback at a whopping 48% premium over Monday’s closing price on BSE. With September 5 set as the record date, this announcement has sent ripples through the market, leading to a sharp rise in the company’s stock. Here’s everything you need to know about this significant development!

Aarti Drugs Sets Record Date for Rs 59.85 Crore Share Buyback

Aarti Drugs has officially announced September 5 as the record date for its highly anticipated share buyback program. The company plans to repurchase up to 6,65,000 shares at a price of Rs 900 per share, representing a substantial 48% premium over Monday’s BSE closing price of Rs 606.25. This buyback accounts for 0.72% of the company’s total equity.

Details of the Share Buyback

In a filing with the exchanges, Aarti Drugs stated, “The Board of Directors at its meeting held today has approved the buyback of up to 6,65,000 fully paid-up equity shares of face value of Rs 10 each, representing up to 0.72% of the total paid-up equity shares of the company, at a price of Rs 900 per equity share, aggregating to Rs 59.85 crore.”

The buyback will be executed in cash, and the company will announce the actual number of securities repurchased once the process is complete. This move is expected to enhance shareholder value and optimize the company’s capital structure.

Promoter and Public Shareholding

As of August 23, Aarti Drugs’ shareholding structure reveals that 55.7% of the shares are held by the promoter and promoter group, while the remaining 44.3% are owned by public shareholders, including non-institutional investors, mutual funds, and alternate investment funds.

What’s Next for Aarti Drugs?

Aarti Drugs has a history of successful buybacks, having conducted five share buybacks since 2016, according to data from Trendlyne. The company plans to disclose further details about the buyback process, timelines, and other requirements in due course.

Inga Ventures Private Limited has been appointed as the Manager for this buyback, ensuring a smooth and efficient process.

Market Reaction: Aarti Drugs Shares Surge

Following the announcement of the buyback, Aarti Drugs’ shares soared by 7.6%, closing at Rs 606.25 on the BSE. This surge reflects strong investor confidence and anticipation of the upcoming buyback.

Conclusion:

Aarti Drugs’ Rs 59.85 crore share buyback at a 48% premium presents a significant opportunity for investors. With the record date set for September 5, shareholders are eager to see how this move will impact the company’s future performance and stock value. Aarti Drugs share buyback, Stay tuned for more updates as Aarti Drugs navigates this strategic financial decision.