GHCL buys back 32,00,000 equity shares, representing 100% of the maximum buy back shares

The company spent Rs 56.80 crore at an average price of Rs 177.53 per equity share

GHCL said he company had commenced the Buy Back on Monday, 3 February 2020, from the shareholders/ beneficial owners of the company excluding promoters, promoter group and persons who are in control of the company, payable in cash from the open market through the Stock Exchanges mechanism under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.

Accordingly, the company bought back 32,00,000 equity shares representing 100% of the maximum buy back shares at an average price of Rs 177.53 per equity share.

The company deployed Rs 56.80 crore, which represents 94.68% of the maximum buy back offer size. Hence, the buy back committee of the company has decided to close the buy back on 28 February 2020.

GHCL had approved buyback on 23 January 2020.

The company made this announcement after market hours yesterday 28 February 2020.

The share price fell 7.78% to close at Rs 171.40 yesterday, 28 February 2020.

GHCL was incorporated on 14 October 1983 and since then, it has established itself as a well-diversified group. It has ascertained its footprints in Chemicals, Textiles and Consumer Products segments.

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