Kama Holdings announced that its board approved share buyback upto Rs 50.02 crore at a price not exceeding Rs 14,500 per share through the tender offer route, on a proportionate basis.
The maximum buyback price of Rs 14,500 per equity share represents a 5.16% premium to Monday's closing price of Rs 13,788.05 on the BSE.The indicative maximum number of equity shares to be bought back under the buyback would be 34,500 equity shares (representing approximately 0.53%, which is less than 25% of the existing paid-up equity share capital of the company).
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The maximum buyback size represents 9.93% and 1.05% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated interim financial statements of the company as on 30 September 2022, respectively.
The company has fixed record date as Friday, 23 December 2022, for the same purpose.
Kama Holdings has business interests in education, real estate and investment through three wholly owned subsidiaries: Shri Educare, KAMA Realty (Delhi) and SRF Transnational Holdings.
On consolidated basis, net profit of Kama holdings surged 98.6% to Rs 385.21 crore on 37% rise in total income to Rs 3919.18 crore in Q2 FY23 over Q2 FY22.
The scrip declined 1.08% to currently trade at Rs 13,639.50 on the BSE.
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