Latest News | Piramal Board Approves Rs 1,750 Crore Share Buyback

New Delhi, Jul 28 (PTI) Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore.

The company's board has approved a buyback of up to 1.4 crore shares of face value of Rs 2 each, representing 5.87 per cent of the pre-buyback fully paid-up shares at a price of Rs 1,250 each, aggregating to Rs 1,750 crore through the tender offer route, the Mumbai-based company said in a regulatory filing.

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The promoter and promoter group shall not participate in the buyback, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)