Kanoria Chemicals and Industries today said it has bought back shares worth Rs 49.42 crore from open market through a six-month long share repurchase programme.
The buyback commenced on September 4, 2012, and ended on February 28, this year.
“The total number of equity shares bought back under the buyback is 12,603,167 equity shares of Rs 5 each subject to close outs and credit in the company’s DP account,” the company said in a filing to the BSE.
Approximately Rs 49.42 crore was utilised to buyback shares, it said, adding that this excludes brokerage costs, SEBI turnover charges, taxes such as securities transaction tax, service tax and relevant stamp duty.
The equity shares were bought back in the demat segment from the stock exchanges at an average price of Rs 39.21 per piece, it added.
The shares of the company, which manufactures alcohol and other chemical intermediates, fell 1.18 per cent to settle at Rs 33.50 on the BSE.