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Business News/ Markets / Stock Markets/  Symphony buyback record date fixed. Price, other details in 5 points

Symphony buyback record date fixed. Price, other details in 5 points

Symphony buyback price has been announced at ₹2,000 apiece

Stock markets had a rough year just about everywhere. Photo: iStockPremium
Stock markets had a rough year just about everywhere. Photo: iStock

Symphony buyback 2023: The board of directors of Symphony Ltd has fixed record date for buyback of shares on 29th March 2023. The company has already announced buyback of shares worth 200 crore in February 2023. The buyback of shares would be executed via tender route and symphony buyback price has been fixed at 2,000 per share. symphony share price today is 1,128 apiece on NSE, which means the buyback of shares has has been announced at a premium of near 75 per cent.

Symphony Ltd informed Indian bourses about the buyback record date citing, "Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and Regulation 9(i) of SEBI (Buy-back of Securities) Regulations, 2018, as amended it is hereby informed that the Company has fixed Wednesday, March 29, 2023 as the record date for the purpose of determining the entitlement and the names of equity shareholders who shall be eligible to participate in the Buy-back and the shareholders to whom the letter of offer and tender form shall be dispatched in relation to the Buy-back."

On other symphony buyback details, the company said, "This is with reference to our earlier intimations dated February 08, 2023 informing the Stock Exchanges that the Board of Directors approved the proposal of the Company to Buy-back 10,00,000 fully paid-up equity shares of the Company of face value of INR 2/- (Indian Rupees Two only) through the “tender offer" route, each at a price of INR 2,000/- (Indian Rupees Two Thousand only) per equity share, payable in cash, for an aggregate amount not exceeding INR 200,00,00,000 (Indian Rupees Two Hundred crores only) subject to approval from members of the Company."

Here we list out top 5 Symphony buyback details that you should know:

1] Symphony buyback price: The company has announced buyback of shares at a price of 2,000 apiece.

2] Symphony buyback record date: The company has fixed 29th March 2023 as record date for finalisation of eligible shareholders for the buyback.

3] Symphony buyback process: The buyback of shares will be executed through tender route.

4] Symphony buyback acceptance ratio: A good number of application is expected as Symphony buyback has been announced at a whopping 75 per cent premium that means acceptance ratio would be lower.

5] Symphony buyback worth: The buyback of shares would be worth 200 crore.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 17 Mar 2023, 08:37 AM IST
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