bajaj auto shares buyback: Bajaj Auto shares buyback …. 5 things you need to know! – Bajaj auto announces share buyback. 5 things you should know

The Board of Directors of Bajaj Auto Limited has approved a proposal to repurchase shares of the company at a price of Rs. 4600 / -. The redemption of shares will be done through a stock exchange mechanism from the open market. At its meeting on June 27, 2022, the company’s board approved the withdrawal. The board has also clarified that the repurchase of Bajaj Auto shares will not exceed Rs 2,500 crore.

The maximum number of equity shares proposed to be repurchased would be approximately 54,34,782 equity shares, subject to the market price of the equity shares being equal to or less than the maximum buyback price. As of 27 June 2022, the paid-up share of the company was 1.88 per cent of the capital. If the equity shares are repurchased at a price lower than the maximum buyback price, the actual number of shares to be repurchased may be higher than the proposed buyback.

“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.