Bajaj Consumer Care approves Rs 80 Crore share buyback via open market route


On an absolute basis, the maximum redemption price is nearly 35% above Thursday’s closing price.

wealth desk

To buy to sell Bajaj consumer to share

The Board of Directors of Bajaj Consumer Care Ltd. on Friday approved the company’s share buyback proposal. The company will buy 33.7 lakh shares at a maximum price of Rs 240 per share.

On an absolute basis, the maximum redemption price is nearly 35% above Thursday’s closing price.

The full redemption consideration will result in a total amount not exceeding Rs 80.89 crore. The total number of shares amounts to 2.28% of the total paid up share capital of the company.

If shares are redeemed at less than the maximum redemption price, the actual number of shares redeemed could exceed the indicative maximum number of redemption shares, but will still be subject to the maximum redemption size, the company said.

In addition, Bajaj Consumer Care should use at least 50% of the maximum buyout size, i.e. Rs 40.44 crore, for the buyout and should buy an indicative minimum of 16.85 lakh shares.

The board has also appointed ICICI Securities Ltd as the manager of the takeover, he added.

Shares of Bajaj Consumer are trading up 1.4% at Rs 181.30.


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