Granules India Share Buyback 2022 Date, Price: Pharmaceutical company Granules India has announced a share buyback programme. The Hyderabad-based company in a regulatory filing informed that the Board of Directors at its meeting held on August 9 approved the buyback of not exceeding 62,50,000 fully paid-up equity shares having a face value of Rs 1 each. It represents 2.52 per cent of the total number of shares.
A share buyback programme is one of the corporate actions wherein the company buys back its equity shares from the shareholders at a fixed price. The price, in general, is higher than the prevailing price of the company’s share price in the capital market. It increases the demand for the company’s shares and the price.
Granules India Share Buyback Amount
Granules India share buyback price has been fixed at Rs 400 apiece for an aggregate amount not exceeding Rs 250 crore.
Granules India will make a payment of Rs 400 per equity share it will purchase from its shareholders participating in the buyback programme. The payment will be given as per the accepted shares by the company under the buyback programme.
Granules India Share Buyback 2022 Record Date
Granules India shares buyback record date is August 23, meaning shareholders participating in the buyback programme must have Granules India shares in the Demat account on the record date.
Granules India Share Price NSE
Granules India share price crashed around 2 per cent on Monday (August 22) to close at Rs 306.45 apiece on the NSE. The stock has yielded a negative return of over 8 per cent in 2022 and around 6 per cent in the last one year.
In the June quarter of the current fiscal, Granules India reported 6 per cent rise in its net profit at Rs 128 crore as against Rs 120 crore in the same period in the previous fiscal.
Granules India was incorporated on 18 March, 1991 as a public limited. It is engaged in manufacturing and selling Formulation Intermediates, Active Pharmaceutical Ingredients, Pharmaceutical Formulation Intermediates, Oncology, High Potent APIs, Finished Dosage Forms.