BSE all set to buyback shares at max price of Rs 1100
Published: Jan 17, 2018
By TIOLCORPLAWS News Service
NEW DELHI, JAN 17, 2018: BSE Ltd. (BSE), Asia's oldest and World's fastest exchange, has announced Buyback of its Equity Shares.
The Board of Directors of the Company at its meeting held on January 15, 2018 has approved the Buyback proposal for purchase by the Company of its fully paid-up equity shares of face value of Rs. 2/- each, from the shareholders or the beneficial owners of the Company, at a price not exceeding Rs. 1100 per Equity Share (" Maximum Buyback Price") from the open market through stock exchange mechanism in such manner as may be prescribed in the Buy-back Regulations of SEBI. The Buyback shall not exceed Rs 166.00 crore, excluding brokerage costs, fees, turnover charges, taxes such as securities transaction tax and goods and service tax (if any), stamp duty and other transaction charges ("Maximum Buyback Size").
The Maximum Buyback Size represents 9.99% of the aggregate of the Company's paid-up Equity Share capital and free reserves based on the standalone audited financial statements of the Company as at March 31, 2017, which is in compliance with the maximum permissible limit of 10% of the paid-up equity share capital and free reserves in accordance with Section 68(2) of the Companies Act, 2013.