BSE share buyback price raised to ₹1,080 per share from ₹816; record date fixed on September 14
BSE Ltd on Friday said its board approved to increase the offer price for its proposed share buyback and also fixed the record date for the same. BSE share buyback price has been increased to ₹1,080 per share from ₹816 earlier. BSE board also fixed the record date for the proposed share buyback at September 14, 2023.
The revised BSE share buyback price is 1.62% higher than Thursday’s closing price of ₹1,062.75 apiece. However, on Friday, BSE share price rose more than 4% to hit a 52-week high of ₹1,122.00 per share, which is above the buyback price. “...
the board approved… increase in the Buyback Offer Price from ₹816 per Equity Share to ₹1,080 per Equity Share, payable in cash, for an aggregate maximum amount not exceeding ₹374 crore.." BSE said in a regulatory filing. The record date for the purpose of determining the entitlement and the names of the shareholders who shall be eligible to participate in the proposed share buyback is fixed on Thursday, September 14, 2023, it added. Also Read: Bajaj Auto August sales drop 15% YoY to 3.41 lakh units dragged by weak two-wheeler dispatches As per the revised buyback offer, BSE will now be buying back 34.70 lakh equity shares, representing 2.56% stake of the company.
In July, the stock exchange BSE had announced share buyback of over 45.93 lakh shares worth up to ₹374.80 crore at ₹816 per share. BSE share price has seen a sharp rally of over 50% since the buyback announcement. Last year, BSE had declared a bonus issue in the 2:1 ratio.
The company had issued two bonus shares for every one share held. For FY23, BSE declared a dividend of ₹13.5 per equity share. BSE share price have nearly doubled in the last three months as it has risen more than 92% during the period.
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