The board of Unichem Laboratories on Monday approved a buyback proposal. The company plans to purchase 2.06 crore equity shares (being less than 25 per cent of the total paid-up equity capital of the company) at a price of ₹430 a share for an aggregate amount not exceeding ₹885.80 crore. The buyback would be on proportionate basis through the tender offer route and the company will announce the record date later. Shares of Unichem Laboratories, after hitting a record high of ₹382, closed at ₹369.60, up 5.2 per cent, on the NSE.
The board of directors of Control Print on Monday approved the allotment of 6.59 lakh equity shares to qualified institutional buyers at an issue price of ₹455 a share. Consequent to the allotment, the paid-up equity share capital of the company stands increased to ₹16.33 crore (consisting of 1.633 crore equity shares of ₹10 each) from ₹15.67 crore. The stock of Control Print slipped 2.9 per cent at ₹493.60 on the NSE.
The board of Venus Remedies on Monday approved the opening of a qualified institutional placement issue on January 9. The board has also approved the relevant date as January 8, and based on the pricing formula, it has fixed the floor price at ₹103.64 a share. Shares of Venus Remedies jumped 19.5 per cent at ₹125.45 on the NSE.