“We wish to inform you that the Board of Directors of the Company (“Board”), at its meeting held today, i.e., Monday, 5th August, 2024 has inter-alia, approved, 1. the proposal for buyback of up to 108333 fully paid-up equity shares of face value INR 5 each (“Equity Shares”) by the Company (“Buyback”), representing upto 0.83% of the total number of Equity Shares of the Company, at a price of INR 12000/- (Rupees Twelve Thousand only) (“Buyback Price”) per equity share payable at cash for a total consideration not exceeding INR 130 Crores,” said the company in a filing to the exchanges.
The buyback will take place through a tender offer and the buyback size represents 9.68% of the total paid-up equity share capital.
As of the pre-buyback structure, the promoter and promoter group hold 54.5% in the company while the remaining 65.4% rests in the hands of the public shareholders like mutual funds, foreign portfolio investors and NRIs among others.
Also read: RailTel shares tumble 7% post Q1 earnings; brokerage maintains ‘Sell’ ratingThe shares of Cera Sanitaryware have surged by 19% in the last one year and on a year-to-date basis, while in the last 6 months the stock has gained nearly 15%. In a span of 2 years, the stock has doubled in value.Cera Sanitaryware shares closed 5.7% higher at Rs 9,426 today on BSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
