Board of Paushak approves buyback of shares

At meeting held on 24 January 2018

The Board of Paushak approved the proposal for buy-back of 1,25,000 fully paid up equity shares of the Company having face value of Rs.10 each ('Equity Shares') (representing up to 3.90% of the total paid-up equity share capital of the Company) at a price not exceeding Rs.1700 per Equity Share payable in cash for a total consideration not exceeding Rs.21.25 crore. The buy-back offer size is within the limit of 25% of the total paid-up capital and free reserves of the Company as per its audited standalone financial statements for the nine months period ended 31 December, 2017.

The promoters & members of the promoter group have indicated their intention to participate in the buy-back offer.

 

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