SIS Ltd. accepted a buyback of shares not exceeding Rs 150 crore at Rs 404 apiece, in line with an alternate submitting on Tuesday.
The shares have a face worth of Rs 5 per fairness share, with round 37.1 lakh shares. The opening date for the buyback is about as June 12 and the cut-off date is June 18.
The final date of receipt of accomplished tender kind and different specified paperwork together with bodily certificates by the registrar to the buyback has been set as June 18.
The deadline for verification of tender kinds by the registrar to the buyback shall be June 23. And the deadline for the completion of settlement of bids on the inventory exchanges has been introduced as June 25.
The agency had beforehand purchased again shares on three separate events in April 2021, August 2022 and December 2023.
Shares of SIS closed 1.22% greater at Rs 374 apiece on the NSE, in comparison with a 1.1% fall within the benchmark Nifty. The inventory had fallen 13.84% within the final 12 months and 16.75% on a year-to-date foundation.
5 analysts monitoring the corporate had a ‘purchase’ score on the inventory, in line with Bloomberg information. The typical of 12-month analysts’ worth goal implies a possible upside of seven.5%.