Matrimony.com surges 14% as board approves share buyback via tender offer

The board has recommended a buyback of equity shares not exceeding Rs 75 crore at an indicative maximum buyback price not exceeding Rs 1,150 per equity share.

Shares of Matrimony.com surged 14 per cent to Rs 759.80 on the BSE in Friday’s intra-day trade after its board approved buyback at price of Rs 1,150 per share via tender offer. In the past one week, the stock has outperformed the market by gaining 2 per cent as against a 4 per cent decline in the S&P BSE Sensex.

At 09:24 am; Martrimony.com traded 9 per cent higher at Rs 728.90, as compared to 0.92 per cent rise in the benchmark index.

“The board of directors, subject to approval by the shareholders of the company, has recommended