The matchmaking services provider announced that its board has approved a share buyback of up to Rs 72 crore at a price of Rs 1,025 per equity share through tender offer route.
The buyback price fixed at Rs 1,025 per equity share, representing a 27.48% premium to Thursday closing price of Rs 804.05 on the BSE.
Matrimony.com will buyback up to 7, 02,439 fully paid-up equity shares of the company.
The buyback offer size represents 24.85 % and 24.98 % of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest standalone and consolidated audited financial statements of the company as on 31 March 2024.
The company said that the Promoters and members of the Promoter Group of the firm will not participate in the proposed buy back.
Matrimony.com provides both matchmaking and marriage related services through websites, mobile sites and mobile apps.
The companys consolidated net profit fell 1.4% to Rs 13.97 crore on 2.2% decline in net sales to Rs 120.59 crore in Q1 FY25 over Q1 FY24.
Shares of Matrimony.com rose 0.62% to Rs 809.05 on the BSE.
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