Moneycontrol
Last Updated : Mar 18, 2019 02:18 PM IST | Source: Moneycontrol.com

Aarti Drugs gains 3% on buyback approval at Rs 900/share

As on March 15, 2019 promoter & promoter group was holding 62.26 percent stake in the company.

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Shares of Aarti Drugs gained 3.5 percent intraday Friday after company approved buyback of its equity shares via tender offer.

The company board approved the buyback up to 2,82,100 fully paid-up equity shares of face value of Rs 10 each representing up to 1.2 percent of the total number of equity shares at a price of Rs 900 per equity share for an aggregate amount of up to Rs 25,38,90,000, as per company filing on BSE.

The board took note of intention of members of the promoter and promoter group including person in control of the company to participate in the proposed buyback.

The board of directors has determined the record date for the proposed buyback as March 29, 2019.

As on March 15, 2019 promoter & promoter group was holding 62.26 percent stake in the company.

At 14:02 hrs Aarti Drugs was quoting at Rs 686.30, up Rs 17.15, or 2.56 percent on the BSE.
First Published on Mar 15, 2019 02:14 pm
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