Ratings firm Crisil today said its board of directors has approved the proposal to buy back the fully paid-up equity shares worth up to Rs 102 crore.
"...The Board of Directors of the company has approved the proposal for buyback of fully paid-up equity shares of face value Re 1 each of the Company from the existing shareholders, for an amount not exceeding Rs 102 crore," it said in a filing to BSE.
It said the buyback is less than 15 per cent of the total paid-up equity capital and free reserves of the company as of December 2014, at a price not over Rs 2,310 a share.
This will be done from open market through the stock exchange mechanism.
"The buyback would be subject to approval of the shareholders of the company by way of a special resolution through postal ballot and e-voting and other applicable statutory approvals," it added.
The Crisil scrip closed at Rs 1,982.60 on BSE today, up 2.26 per cent from the previous close.
