INSUBCONTINENT EXCLUSIVE:
On Thursday, share price of HCL Technologies closed 1.03% higher at Rs 1,005.30, on the BSE.Mumbai: The board of IT (information technology)
major HCL Technologies on Thursday approved the buy back of up to 3,63,63,636 equity shares of Rs 2 face value at Rs 1,100 per share for
The buy-back size is "14.83 per cent and 11.59 per cent, of the fully paid-up equity share capital and free reserves (including securities
premium account)", the company said in a regulatory filing at the BSE.On July 9, the company had informed the stock exchange that the board
of directors would consider the buy back in its meeting on Thursday."The buy-back size (Rs 4,000 crore) does not include any expenses for
the buy-back, like filing fees payable to the Securities and Exchange Board of India (Sebi), advisors' fees, public announcement publication
expenses, printing and dispatch expenses, transaction costs," the filing on Thursday said.It added: "The buy-back is proposed to be made
from the shareholders of the company on a proportionate basis, through the 'tender offer' route as prescribed under the Sebi (Buy Back of
Securities) Regulations, 1998."On Thursday, share price of HCL Technologies closed 1.03 per cent higher at Rs 1,005.30, on the BSE .
