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Claris mulls options to give Rs 2,077 cr to shareholders

Press Trust of India  |  New Delhi 

Drug firm Claris Lifesciences today said it is considering options such as dividend or share buyback to distribute around Rs 2,077 crore to its shareholders.

In a regulatory filing, Claris Lifesciences said that total available with the company is Rs 3,614 crore.

The company's board today approved various expenses and costs aggregating to Rs 1,537 crore relating to various transactions it had undertaken, it added.

After adjusting the expenses and costs the net that will be available to the company is estimated to be Rs 2,077 crore, Claris Lifesciences said.

This translates to available per share of around Rs 381 without considering any taxes on the proposed distribution to the shareholders, it added.

"The company is in the process of evaluating various alternatives to distribute the net cash to its shareholders including dividend, buy-back etc," Claris Lifesciences said.

of Claris Lifesciences today closed at Rs 335.70 on the BSE, down 7.46 per cent from previous close.

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

First Published: Thu, October 12 2017. 17:57 IST