BSE board approves share buyback up to ₹374.80 crore at ₹816 per share via tender offer

The board of directors of BSE Ltd on Thursday approved share buyback worth up to ₹374.80 crore at ₹816 per share 

The buyback will be done through a tender offer and the record date will be decided by the buyback committee, the company informed in a regulatory filing.

The company has set the price for the share buyback at ₹816 per equity share, taking the total buyback programme to ₹374.80 crore. 

The buyback price is nearly 20% higher than Wednesday's closing price of ₹680.35 per share.

The resultant equity shares to be bought back at the buyback offer price are 45,93,137 equity shares, representing 3.39% of the total paid-up equity capital of the company as on March 31, 2023.

On July 3, BSE had informed that its board meeting to be held on July 6 to consider buyback.

Meanwhile, the company's board has appointed Nuvama Wealth Management Limited as the manager to the buyback.

The buyback offer is subject to the approval of the shareholders by way of a special resolution at the ensuing eighteenth annual general meeting and all other applicable statutory approvals, it added.

At 2:15 pm, the shares of BSE were trading 1.06% higher at ₹687.55 apiece on the NSE.

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