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Savita Oil Technologies to buyback shares up to Rs 35.14 crore

Capital Market 

Savita Oil Technologies announced that the Board of Directors of the company at its meeting held on 19 February 2021 has approved the buyback of up to 2,51,000 fully paid up equity shares of face value of Rs.10 each of the company representing upto 1.78% of the total number of equity shares in the total paid-up equity capital of the company at a price of Rs.1,400 per equity share (Buyback Price) (including premium of Rs.1,390 per equity share) payable in cash for an aggregate amount up to Rs. 35.14 crore (Buyback Size), which is 4.05% of the fully paid-up equity share capital and free reserves (including securities premium) as per the latest audited standalone financial statements of the company for the financial year ended 31 March 2020 on a proportionate basis through the tender offer (Tender Offer) as prescribed under the Buyback Regulations, to all the equity shareholders / beneficial owners who hold equity shares as on the record date i.e. 5 March 2021 (Record Date).

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

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First Published: Mon, February 22 2021. 16:26 IST