Piramal Healthcare buys back Rs 2,508 cr shares

Piramal Healthcare today said it has completed buyback of 4.18 crore shares worth over Rs 2,500 crore.

The company's buyback offer began on March 3 and ended on March 24.

"The buyback constitutes 20% of the issued, subscribed and paid-up equity share capital of the company as on September 30, 2010," the firm said in a filing to the Bombay Stock Exchange (BSE).

Piramal had offered to buy 4.18 crore outstanding shares at a price of Rs 600 each. The total purchase is valued at around Rs 2,508.16 crore.

The buyback offer was originally scheduled to start on January 17 and close on February 7.

 

Shares of the company closed at Rs 416.90, down over 3% on the BSE.