What to watch. Jagran Prakashan’s buyback opens

The buyback offer from Jagran Prakashan to its shareholders opens for subscription on Friday, March 24. The company plans to acquire up to 1.55 crore shares, representing 4.74 per cent of the total outstanding shares, at ₹195 a share. The offer size is ₹302.25 crore and it plans to mop it up on a proportionate basis through a tender offer. The company had fixed February 22 as the record date to identify eligible shareholders to participate in the buyback.