TV Today network, the promoter of Aaj Tak news channel, said that the company will buy back shares at a price not exceeding Rs 115. The purchase will be made through open market.
The offer price of Rs 115 is at a premium of 7.78 per cent over the average closing price on the stock exchanges, as on July 30, 2008.
In a statement to Bombay Stock Exchange, the company said that it will purchase up to 47,79,800 equity shares (about 8.23 per cent of the total equity shares). The total amount earmarked for the open offer is Rs 29.30 crore.
The buy back will commence on March 16 and the last date is July 30, 2009.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app