Patni buys back shares worth Rs237 cr

Patni buys back shares worth Rs237 cr

Mumbai: Software services provider Patni Computer Systems said that it has bought around 1.09 crore shares worth Rs237 crore from the open market under its buyback offer.

The company purchased 1.09 crore shares, of face value of Rs2 each, at an average buy back price of Rs216.30, a company filling to the Bombay Stock Exchange (BSE) said.

Patni Computers, whose Rs237 crore buy back offer opened on 10 July, said that the offer closed on 23 October.

In July, the company had announced its plan to buy back shares in the company from open market at a price not exceeding Rs325 a share.

As of September quarter the promoters held 46.79% stake in Patni Computers, as per data on the stock exchanges.

Shares of Patni Computers closed at Rs142.45 on the BSE.