The board of eClerx Services on Monday approved buyback equity shares worth ₹109.50 crore at a maximum price of ₹550 through open market purchases.
Shares would be bought back from the public except promoters, promoter group and persons in control of the company. At the indicative price, the maximum number of equity shares bought back would be 19.90 lakh shares. Emkay Global Financial Services has been appointed as the manager to buy back issue.
Shares of eClerx closed marginally down at ₹475.55 on the BSE.