Nucleus Software soars 16% as board approves share buyback

The stock hit 52-week high of Rs 330 after the board approved share buyback at Rs 350 per share

Nucleus Software Exports hit 52-week high of Rs 330, up 16% on BSE after the company said its board approved buyback of shares at a price not exceeding Rs 350 per share via tender offer.

“At the maximum offer price of Rs 350 per equity share and for the maximum offer size of Rs 118 crore, the indicative maximum number of equity shares that can be bought back would be 3.37 million fully paid up equity shares representing 10.39% of the total paid up equity share capital of the Company,” Nucleus Software Exports said in a BSE filing.