Clariant Chemicals (India)

Clariant Chemicals (India) has informed the exchanges that it has not received final approval from SEBI for the proposed buyback offer. The company’s draft letter of offer is still pending with market regulator, it said. The company's board in April had recommended a proposal to buyback up to 35.79 lakh shares at ₹950 a share through tender offer route. Shareholders of the company also approved the proposal in May. The stock of Clariant Chemicals gained 2 per cent at ₹818.30 on the BSE.