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The board of KPR Mill on Thursday approved a buyback proposal. The company has proposed to buy back shares not exceeding 13.35 lakh in number (representing 1.81 per cent of the total equity capital) at ₹810 a share. This translates into an issue size of ₹108.13 crore, which is not exceeding 10 per cent of the aggregate fully paid-up equity share capital and free reserves as per the audited accounts of the company for the financial year ended March 31, 2017. The buyback offer would be done on proportionate basis through the tender offer route. The company has fixed the record date as March 7 for the purpose of buyback. Shares of KPR Mill jumped 3.88 per cent at ₹21.40 on the NSE.
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