Bajaj Auto Buyback Details: The proposal for the buyback of the company’s shares at a price of Rs. 4600 per share was authorised by the board of directors of Bajaj Auto Limited. Shares will be repurchased from the open market via a stock exchange method. This buyback was agreed by the corporate board during its meeting on Monday, June 27, 2022. Also made clear by the board was that the Bajaj Auto share repurchase will not exceed Rs. 2500 crore.
Bajaj Auto Buyback Date
The company’s board of directors set the buyback price per equity share at Rs. 4600. The indicative maximum number of equity shares proposed to be bought back would be 54,34,782 equity shares (“Proposed Buyback Shares”), constituting roughly 1.88 percent of the paid-up share capital of the Company as of 27 June 2022, subject to the market price of the equity shares being equal to or less than the maximum buyback price.
Bajaj Auto Buyback Price
Bajaj Auto Buyback Price is Rs. 4600 per share. The board of directors has authorized a maximum Rs.2500 crore share buyback. The actual number of stock shares to be bought back may be greater than the planned buyback shares, but will always be limited by the maximum buyback size if the equity shares are purchased for less than the maximum buyback price.
Bajaj Auto Buyback Details
|Security Name||Bajaj Auto Limited|
|Buyback Type||Open Market Through Stock Exchange|
|Offer Opens On||Jul 4, 2022|
|Offer Closes On||Jan 3, 2023|
|Buyback Offer Amount||Rs 2,500 Crores|
|Listing At||BSE, NSE|
|Buyback Price||Rs. 4600 per share|
|Face Value||Rs. 10 Per Equity Share|
About Bajaj Auto Buyback
The Jamnalal Bajaj Group, one of India’s most prestigious and respected corporate houses, was founded by Jamnalal Bajaj, a freedom warrior, philanthropist, and close associate of Mahatma Gandhi. In Lakhimpur Kheri, Uttar Pradesh, a sugar factory marked the beginning of the voyage eighty years prior. The group has expanded into a number of business sectors with expansion as its ultimate goal.
The Bajaj brand is undoubtedly “The World’s Favourite Indian,” having sold more than 18 million motorcycles in more than 70 nations. It is India’s top exporter of motorcycles, with two out of every three vehicles exported abroad sporting a Bajaj logo. The business is also the biggest three-wheeler producer in the world. The first two- and three-wheeler firm in the world to reach a market capitalization of INR one trillion, Bajaj Auto is still the most valuable two- and three-wheeler company in the world today.
You may also read this: What is BuyBack of Share?