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Board of Vinati Organics approves buyback of shares

Capital Market 

At meeting held on 11 August 2017

The Board of at its meeting held on 11 August 2017 has approved a buyback proposal for purchase by the Company of up to 2,00,000 equity of Rs. 2 each (representing 0.39% of the total equity capital), from all the shareholders of the Company on a proportionate basis through the "Tender Offer" route using the stock exchange mechanism as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998 (the "Buyback Regulations") at a price of Rs. 1,200 per equity share, aggregating to approximately Rs. 24 crore in accordance with the provisions of the Companies Act, 2013 and the Buyback Regulations (the "Buyback").

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 20:23 IST