NEW DELHI: The board of directors of Dalmia Bharat has approved the proposal for buyback of the company’s fully paid-up equity shares having a face value of Rs 2 each, for an aggregate amount not exceeding Rs 500 crore and at a price not exceeding Rs 700 per equity share, payable in cash, from its shareholders / beneficial owners, from the open market through stock exchange mechanism
The indicative maximum number of equity shares proposed to be bought back at the Maximum Buyback Size and Maximum Buyback Price under the Buyback would be 71,42,857 Equity Shares.
The Maximum Buyback Size represents 6.7% and 5.0% of the aggregate of the total paid-up capital and free reserves of the company.
The Board has also constituted a committee for the purposes of the Buyback and has appointed Dr. Sanjeev Gemawat, executive director- Legal and Group Company Secretary as Compliance Officer for the purposes of the Buyback.
