Broader market party continues
BSE ups buyback price; Shares gain
BSE has increased the acquisition price for its proposed Rs 375-crore buyback from Rs 816 per share to Rs 1,080 per share. The record date set for the buyback is September 14. Shares of BSE rose 4.9 per cent to end at Rs 1,145. Experts said BSE is the first company to use the recently tweaked buyback rules that allow companies to revise their buyback price ahead of their record date. This will be BSE’s third share repurchase since its listing in January 2017. Previously, BSE has done a Rs 166 crore open market buy back in 2018. In 2019, the exchange did a tender route buyback worth Rs 460 crore. The latest buyback, representing 2.56 per cent equity, is also being done under the tender route.
First Published: Sep 01 2023 | 8:48 PM IST