Ajanta Pharma share buy back record date set for today, Key details in 5 points

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Today has been established as the record date for the Ajanta Pharma share buyback. Major points in 5 points

Ajanta Pharma stock is in the spotlight today due to the pharmaceutical business setting a record date for the buyback of shares on March 24, 2023.
Shares of Ajanta Pharma will be repurchased at a price of 1,425 each. The current share price of Ajanta Pharma is around $1,170, which means the company is repurchasing shares at a premium of 255 cents per share, or 21.80%.

Informing Indian bourses about buyback of shares, Ajanta Pharma Ltd said, “This is in furtherance to our intimation dated March 10, 2023 informing the stock exchanges, that the Board of Directors of the Company has approved the proposal of Buy-back of 22,10,500 (Twenty Two Lakhs Ten Thousand Five Hundred) fully paid-up equity shares of the Company of face value of ₹2 each at a price of ₹1,425/- (Indian Rupees One Thousand Four Hundred And Twenty Five only) per equity share, on a proportionate basis, through the tender offer process (“Buyback”), in accordance with the provisions of the Companies Act, 2013, and rules made thereunder, and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (the “SEBI Buyback Regulations”) as amended from time to time and other applicable laws.”

Here are the top 5 things you need to know about Ajanta Pharma’s share repurchase programme:

  1.  Ajanta Pharma buyback price: The company has announced buyback of shares at ₹1,425 per share.
  2. Ajanta Pharma buyback size: The company has announced buyback of 22,10,500 fully paid-up shares.
  3.  Ajanta Pharma buyback acceptance ratio: The acceptance ratio is expected to remain lower as the offer is announced at a whopping premium and the stock has remained sideways to negative for long. So, more and more shareholders are expected to offer their shares in this buyback offer.
  4. Ajanta Pharma buyback route: The buyback has been offered via tender route.
  5. Ajanta Pharma buyback record date: The board of directors of the pharma company fixed record date for buyback of shares on 24th March 2023.
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