Aarti Drugs has actually set buyback rate at Rs 1,000 per share, as versus present market price of Rs 722.25 Aarti Drugs will open its share buyback deal on April 27.
The buyback offer will consist of 6 lakh completely paid-up equity show a face value of Rs 10 each, representing 0.64 per cent of total shares of the company.
The buyback will close on May 10, 2021.
Aarti Drugs has actually set the buyback cost at Rs 1,000 per share, as versus the prevailing market price of Rs 722.25 (as on April 21), aggregating to Rs 60 crore.Companies normally buy back shares from the free market to increase the value of remaining shares by minimizing supply or to avoid other shareholders from taking a controlling stake in the company.Through the buyback, Aarti Drugs will return surplus money to investors, enhance revenues per share and increase shareholder's value in the long-term.
Aarti Drugs produces more than 40 items, consisting of anti-biotic, anti-inflammatory, anti-fungal and anti-diabetic medications.
It has 9 manufacturing locations at Tarapur in Maharashtra and 2 units at Sarigam in Gujarat.Inga Ventures is the supervisor to the buyback concern, while Link Intime India is the registrar.