India to buy shares by giving 37 percent higher price to shareholders
Max India has said that it will buy back shares worth Rs 92 crore from the current shareholders. The company has fixed a price of Rs 85 per share. The purchase will be made under the Capital Reduction Program. The company has given this information to NSE. The company's stock closed at Rs 62 on September 14. This means that the company will buy shares at a 37 percent premium.
Max India was listed on the stock exchange on August 28 as part of the demerger process last month. It has Rs 400 crore as treasury corpus. The money came from the divestment process of its earlier subsidiary Max Bupa. Of this, the company will spend 92 crore rupees on the purchase of shares.
Posted Using LeoFinance
shareholder
shares
maxindia
palnet
neoxian
gems
ctp
upfundme
creativecoin
dailyreport
company
business
economic
leofinance
Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
If you believe this is an error, please chat with us in the #appeals channel in our discord.