AIA Engineering has announced a share buyback plan worth ₹500 crore, offering to buy shares at ₹5,000 each, which is about 10% higher than Friday’s closing price of ₹4,553. The company has set August 20 as the record date for this buyback.
In a recent filing, AIA Engineering stated, “The Board of Directors approved the buyback of up to 10 lakh fully paid-up equity shares, each with a face value of ₹2, at a price of ₹5,000 per share, for a total consideration not exceeding ₹500 crore.”
This buyback marks AIA Engineering’s first-ever share repurchase, as per data from the BSE. The company, which has consistently paid dividends but never issued bonus shares, has seen its stock price rise by 78% over the past two years. In the last year alone, the stock has gained 26.5%, with a 23.7% increase in 2024 so far.
AIA Engineering is a leader in producing high-chrome, wear-resistant parts for grinding equipment used in the cement, mining, and quarry industries. The company’s products, including grinding media, liners, and diaphragms—known collectively as mill internals—are essential for crushing and grinding operations in these industries.
On Friday, AIA Engineering’s shares remained steady, closing at ₹4,553.25 on the BSE.
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