Jagran Prakashan has informed the exchanges that its Board of Directors, at its meeting held on April 27, approved a buyback of upto 1.5 crore fully paid-up shares of face value ₹2 each representing 4.82 per cent of the total equity capital of the company, for an aggregate amount of ₹292.5 crore. The buyback price is set at ₹195 per share. The buyback, to be done on proportionate basis through the tender offer route, is subject to statutory approvals. The stock of Jagran Prakashan closed at ₹165.35, up 0.64 per cent over its previous close on the BSE.
Correction
This report has been modified to correct the buyback price to ₹195, from ₹295.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.