eClerx Services announces Rs 300 crore-share buyback; record date Dec 27

eClerx Services on Thursday announced a share buyback worth Rs 300 crore. The company has arrived at a final buyback price of Rs 1,750, a premium of over 25% against the previous day’s closing price of Rs 1,397 apiece on the NSE.

The total number of shares to be bought back in the repurchase will be up to 17,14,285 units, representing 3.38 % of the total shares in the paid up equity share capital of the company.

The company has fixed December 27, 2022, as the record date for the purpose of determining the names of the equity shareholders who are eligible to participate in the buy back and their entitlements.

Earlier, the company carried out share buyback in 2021 worth Rs 303 crore. The buyback price at that time was pegged at Rs 2,850 per share.

Shares of eClerx, after delivering 312% returns in the last 3 years, have tanked in the last 1 year and delivered a negative return of over 7%.

eClerx Services offers business process management, automation and analytics solutions.