Board of Adani Ports & Special Economic Zone approves buyback of shares up to Rs 1960 cr

At meeting held on 04 June 2019

The Board of Adani Ports & Special Economic Zone at its meeting held on 04 June 2019 has approved the proposal for the buy-back by the Company of up to 3,92,00,000 Equity Shares (being 1.89% of the total paid-up Equity Share Capital of the Company) from the equity shareholders of the Company as on 21 June 2019 (the "Record Date") ("Eligible Shareholders") ("Buy-Back") at a price of Rs. 500 per Equity Share (the "Buy-Back Offer Price"), for an aggregate amount not exceeding Rs. 1,960 crore, (the "Maximum Buy-Back Size", being 9.94% of the total paid-up Equity Share Capital and free reserves of the Company as per the audited standalone financial statement as at 31 March 2019) from the Eligible Shareholders of the Company on a proportionate basis through Tender Offer route.

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