Goldiam International share price spiked over 12 percent intraday on September 13 after the board of the company approved buyback of shares.
The Board of Directors of Goldiam International at its meeting held on September 13, 2021 approved a proposal to buyback up to 3,80,000 equity shares of the company for an aggregate amount not exceeding Rs 45 crore and 60 lakh, being 01.71 % of the total paid-up equity share capital and 19.35% of the total paid-up equity share capital at a price of Rs 1,200 per equity share, the company said in an exchange filing.
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The buyback is proposed to be made from the existing shareholders of the company as on the record date on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the SEBI, the company said.
The proposed buyback is subject to approval of shareholders by means of a special resolution through a postal ballot. The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the buyback regulations, it added.
The stock was trading at Rs 1,031.35, up Rs 110.15, or 11.96 percent. It has touched a 52-week high of Rs 1,048.30. It has touched an intraday high of Rs 1,048.30 and an intraday low of Rs 927.
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