Bajaj Auto has received approval for buyback of the fully paid up equity shares of the Company having a face value of Rs 10 each (Equity Shares) from the existing shareholders of the Company (except promoters, promoter group and persons in control of the Company) from open market through stock exchange mechanism (i.e through National Stock Exchange of India and BSE collectively ‘Stock Exchanges) at a price not exceeding Rs 4,600 (Maximum Buyback Price) per Equity Share and such aggregate amount, up to Rs 2,500 crore (Maximum Buyback Size), representing 9.61 % and 8.71% of the aggregate of the total paid-up share capital and free reserves (including securities premium account) of the Company based on the latest audited financial statements of the Company as at March 31, 2022 ( on a standalone and consolidated basis, respectively) (Buyback) in accordance with the provisions of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (as amended) (Buyback Regulations) and the Companies Act, 2013 and the rules made thereunder.
The market price of the Equity Shares being equal to or less than the Maximum Buyback Price, the indicative maximum number of Equity Shares proposed to be bought back, would be 54,34,782 Equity Shares (Proposed Buyback Shares), comprising approximately 1.88% of the paid-up share capital of the Company as of June 27, 2022.
The Company will utilise at least 50% of the amount earmarked as the Maximum Buyback Size for the Buyback i.e. Rs 1,250 crore (Minimum Buyback Size). Based on the Minimum Buyback Size and Maximum Buyback Price, the Company would purchase a minimum of 27,17,392 Equity Shares.
Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
| Company Name | CMP |
|---|---|
| Bajaj Auto | 8765.10 |
| Hero MotoCorp | 4272.50 |
| TVS Motor | 2388.15 |
| Eicher Motors | 4750.40 |
| Atul Auto | 570.50 |
| View more.. | |
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