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Board of Alembic approves buyback of shares

Capital Market 

At meeting held on 12 March 2018

The Board of at its meeting held on 12 March 2018 has approved the following -

1. Approved and finalized buy-back of up to 1,02,50,000 fully paid-up equity shares of the Company having face value of Rs. 2/- (Rupees Two Only) each at the price of Rs. 80/- per equity share ('Buy-back Price') payable in cash for a total consideration not exceeding Rs. 82 crore ('Buy-back Size') excluding transaction costs i.e. fees, brokerage, applicable taxes such as securities transaction tax, goods and services tax, stamp duty, etc.

2. Fixed Friday, 23 March, 2018 as the record date for determining the equity shareholders of the Company eligible to tender equity shares under the buy-back offer.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 09:17 IST