“The company will use at least 50% of the maximum return amount per buyback, i.e. Rs 1,250 crore. The company will buy a minimum of 27,17,392 equity shares based on the minimum withdrawal amount and the maximum purchase price.
Here are 5 things Bajaj Auto partner needs to know
1]Repurchase Price: The Board of Directors of the Company has set a repurchase price of Rs.4600 per equity share.
2]Repurchase amount: The Board of Directors has approved the purchase of shares not exceeding Rs.2500 crore.
3]Withdrawal Procedure: Redemption of Bajaj Auto shares will be done through the stock market from the open market.
4]Buyback Revenue: The company has clarified that it will utilize fifty percent of the buyback revenue.
5]Buyback rate: The maximum withdrawal rate will be 9.61% of the total paid-up capital of the company.
Bajaj Auto stock price today is Rs 3886.