Bajaj Auto Buyback of Rs 2500 crore approved by the board of directors at the meeting was held on June 27, 2022. Bajaj Auto Buyback will be done via the Open Market route through the stock exchange mechanism.
The board of directors of the company approved the buyback by the Company of its fully paid-up equity shares having a face value of Rs 10 each equity share at a price not exceeding Rs 4,600 per Equity Share and for an aggregate amount not exceeding Rs 2500 crores from the shareholders.
Bajaj Auto buyback will be a maximum number of 54,34,782 equity shares which will be 1.88% of the total number of paid-Up Equity Shares of the Company. If the Equity Shares are bought back at a price below the Maximum Buyback Price, the actual number of Equity Shares to be bought back could exceed the Proposed Buyback Shares, but will always be subject to the Maximum Buyback Size. The Company will utilize at least 50% of the amount earmarked as the Maximum Buyback Size for the Buyback i.e. Rs. 1,250 Crores ("Minimum Buyback Size"). Based on the Minimum Buyback Size and Maximum Buyback Price, the Company would purchase a minimum of27,17,392 Equity Shares.
Bajaj Auto Buyback Details are as under:
- Bajaj Auto Announcement Date: June 27, 2022, Monday
- Bajaj Auto Buyback Price: Rs 4,600 per Equity Share
- Bajaj Auto Buyback Size: Rs 120 crores
- Bajaj Auto Buyback Type: Open Market
- Bajaj Auto Buyback Equity Shares: 54,34,782 (1.88% of the total number of paid-up shares)
For more details please check our Bajaj Auto Buyback 2022 page.