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HCL Technologies' Rs 40-bn buyback offer to commence on September 18

In July, HCL Technologies had announced the buyback programme for FY19 at Rs 1,100 per share

Press Trust of India  |  New Delhi 

Representative image
Representative image

firm Tuesday said its Rs 40 billion buyback offer will commence on September 18.

The company's shareholders had last month approved the buyback proposal.

The date for opening of the buyback has been set for September 18 and will close on October 3, said in a filing.

"...in accordance with the (Buy Back of Securities) Regulations, 1998, the Company has, on September 10, 2018, completed the dispatch of the letter of offer dated September 7, 2018 for the buyback to all the equity shareholders/ beneficial owners of the equity shares as on the record date being August 31, 2018," it added.

In July, had announced the buyback programme for FY19 at Rs 1,100 per
 

The buyback offer — for up to 36363,636 fully paid-up equity shares — is part of HCL Technologies' strategy to return more than 50 per cent of its net income to its shareholders.

First Published: Tue, September 11 2018. 15:20 IST
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