BSE share buyback concludes; purchases 20 lakh stocks for Rs 166-cr

Asia's oldest stock exchange BSE has repurchased over 20 lakh shares for nearly Rs 166 crore under its buyback programme.

The buyback, which commenced on February 1, closed on July 9, BSE (formerly known as Bombay Stock Exchange) said in a public notice.

"The company bought back an aggregate of 20,19,170 equity shares, utilising a total of Rs 165.99 crore, which represents 99.99 per cent of the maximum buyback size," the exchange said.

The shares were bought back at an average price of Rs 822.12.

In January, the board of BSE had approved plan to buy back shares worth Rs 166 crore within one year of its listing.

"The buyback plan demonstrates the board's confidence in our future, our commitment to delivering values to all of our stakeholders and strong balance sheets.

"The intention behind BSE's buyback is two-fold -- take cognisance of the views and requests from its international and domestic shareholders and improve BSE's valuation for long term shareholders," its Chairman S Ravi had said.

Last year, BSE had raised Rs 1,243 crore by selling a total of 1.54 crore shares through its initial share-sale offer.