Weizmann Forex touched 52-week low of Rs 513, down more than 9 percent intraday Tuesday. The company approved buyback of 4,36,467 equity shares at a price of Rs 702.
The board of directors of the company at its meeting held on June 4, approved buy back of 4,36,467 fully paid up equity shares of face value of Rs 10 representing 3.77 percent of the total number of outstanding equity shares of the company, at a price of Rs 702 per equity share, for an aggregate amount of Rs 30.64 crore out of free reserves, company said in release.
The buyback is proposed to be made from all equity shareholders as on record date on a proportional basis through the tender offer route.
At 09:57 hrs Weizmann Forex was quoting at Rs 530, down Rs 35.20, or 6.23 percent on the BSE.
Posted by Rakesh Patil
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