Borosil Glass Works approves buyback of equity shares

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26 Aug, 2025 12:21

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Borosil Glass Works Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 11, 2015, unanimously approved a buyback proposal for purchase by the Company of upto 6,96,000 equity shares of Rs.10/- each (representing 23.15% of the total equity capital), from all the shareholders of the Company on a proportionate basis through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back Regulations), 1998 (the “Buyback Regulations) at a price of Rs. 2,500/- (Rupees Two Thousand Five Hundred only) per equity share, aggregating to Rs.174 crores (Rupees One seventy four crores only) in accordance with the provisions of the Companies Act, 2013 and the Buyback Regulations (the Buyback).The Board noted the intention of the one of Promoter entities of the Company to participate in the proposed Buyback.The Buyback would be subject to approval of the shareholders by way of a Special Resolution through Postal Ballot and all other applicable statutory approvals.The Board has constituted a Buyback Committee and delegated its powers to the buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary expedient, usual or proper in connection with the buyback.The Board has appointed Mr. Arun Kumar, Vice-President, Legal & Secretarial of the Company as Compliance Officer for the purpose of buyback of shares of the Company.Source : BSE

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