Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

Kaveri Seed surges 5% on buyback approval

The proposed buyback will be subject to approval of shareholders and all other applicable statutory and regulatory approvals.

September 25, 2019 / 09:46 AM IST
Representative image

Representative image

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Kaveri Seed Company rose over 5 percent in early trade on September 25 after the company board approved buyback of equity shares.

The board has considered and approved the proposal for buyback of fully paid-up equity shares of face value of Rs 2 each, not exceeding 28,00,000 equity shares for an aggregate amount not exceeding Rs 196 crore.

The buyback offer size represents 20.01 percent and 20.14 percent of the aggregate of the fully paid-up equity capital and free reserves, respectively.

The proposed buyback will be subject to approval of shareholders and all other applicable statutory and regulatory approvals.

The board has appointed M/s. L. D. Reddy & Co, Company Secretaries as the scrutinizer for conducting the postal ballot activity.

At 0922 hrs, Kaveri Seed Company was quoting at Rs 568.10, up Rs 20.70, or 3.78 percent on the BSE.

Moneycontrol News
first published: Sep 25, 2019 09:46 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347