Pennar Industries Buyback Details: Pennar Industries Limited (PIL), a Hyderabad-based provider of value-added engineering goods and solutions, has announced the buyback of equity shares. Penner Industries Buyback details. Pennar Industries’ Board of Directors approved the buyback of fully paid up equity shares with a face value of Rs 5 each at a price not exceeding Rs 50 per equity share for an aggregate amount of Rs 40 crore at its meeting on March 9, 2022.
Under the Buyback Regulations and the Companies Act, this is payable in cash from the open market via the stock exchange mechanism. Based on the company’s audited consolidated and standalone financial statements as of March 31, 2019, the maximum repurchase size reflects 6.14 percent and 6.16 percent of the company’s paid up equity capital and free reserves, respectively. This complies with Section 68(2) of the Companies Act, which sets a maximum permitted limit of 10% of total paid-up equity share capital and free reserves.
Pennar Industries Buyback Details: Opening Date, Closing Date, Buyback Price
|Buyback Type||Open Market Through Stock Exchange|
|Buyback Offer Amount||Rs 40.00 Crores|
|Date of Public Announcement||To be announced|
|Buyback Offer Size||Rs. 50 per share|
|Face Value||Rs 5 Per Equity Share|
|Listing Board||BSE, NSE|
About Pennar Industries Limited Buyback
Pennar Industries is a leading provider of value-added engineering goods and services in India. Infrastructure, Automobiles, Power, General Engineering, and Building & Construction are all areas where it has a substantial market presence.
More than 1000 precision engineering products and 2500 tools and dies are included in the company’s product portfolio. Patancheru, Sadashivpet, lsnapur, Velchal, and Mallapur near Hyderabad, Chennai in Tamil Nadu, and Tarapur in Maharashtra are the company’s current manufacturing factories.