The firm has fastened April 1, 2021 because the file date to tender shares in buyback.
Shares of drug maker Aarti Druges rose as a lot as 15 per cent to hit an intraday excessive of Rs 785 after its board of administrators authorized share buyback proposal. Aarti Drugs’ board of administrators authorized a proposal to buyback 6 lakh shares of face worth of Rs 10 every at Rs 1,000 for a complete consideration of Rs 60 crore.
“Board of Directors at its meeting held today has approved the Buyback of up to 6,00,000 fully paid-up equity shares of face value of Rs 10 each of the Company representing up to 0.64 per cent of the total number of Equity Shares of the Company at a price of Rs 1,000 per equity share payable in cash for an aggregate amount of up to Rs. 60,00,00,000,” Aarti Drugs mentioned in a inventory trade submitting.
Aarti Drugs share buyback worth of Rs 1,000 is at a premium of 46 per cent to its yesterday’s closing worth of Rs 683. The firm has fastened April 1, 2021 because the file date to tender shares within the buyback.
As of three:25 pm Aarti Drugs shares traded 9.35 per cent larger at Rs 747, outperforming the Sensex which was up 1.15 per cent.
