Matrimony.com has launched a ₹72 crore share buyback offer, which opened on October 30 and will close on November 6. This buyback is available to eligible shareholders who held shares as of the record date, October 25, 2024.
The company has sent out the Letter of Offer to eligible shareholders. To participate, investors must submit their completed tender forms by November 6 at 5 PM IST. The settlement of bids is scheduled for November 12.
This is the second buyback for Matrimony.com, following a previous one in July 2022. A share buyback occurs when a company buys its own shares from the market, which reduces the total number of shares available and returns cash to its investors.
For the quarter ending June 2024, Matrimony.com reported a slight decline in profit after tax, down 1.4% year-on-year to ₹14 crore, and a 2.2% drop in revenue from operations to ₹123 crore.
Over the past year, the stock has risen by 37.8%, and it has increased by 38.38% this year alone.
