Share price of Vyapar Industries locked at 5 percent upper circuit on Monday after company approved buyback of equity shares.
There were pending buy orders of 131 shares, with no sellers available.
The board of directors of the company in their meeting held on February 22 approved the buyback of upto 15,30,000 equity shares of the company of the face value of Rs 10 each at a price of Rs 29 per equity share aggregating to Rs 4,43,70,000 through the tender offer route.
The said buyback is subject to the approval of shareholders by way of a special resolution through postal ballot and regulatory compliances required under applicable laws.
The board appointed Saffron Capital Advisors, as a SEOI registered Category I Merchant Banker as Sole Manager to the buyback offer.
At 11:03 hrs Vyapar Industries was quoting at Rs 29.15, up Rs 1.35, or 4.86 percent on the BSE.
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