TTK Prestige, the well-known kitchen appliance and cookware company, has announced a ₹200 crore share buyback. The company’s board approved this decision earlier this month, and the record date to be eligible for the buyback is set for August 14.
The buyback price is set at ₹1,200 per share, which is 19% higher than the stock’s closing price on August 12. This is the first time TTK Prestige is going for a buyback, though the company is known for regularly rewarding its shareholders with dividends.
TTK Prestige shares have performed well recently, increasing by 29.7% over the past year and 31% in the last six months. Founded in 1995, TTK Prestige is based in Chennai and is famous for its pressure cookers and innovative marketing strategies.
To be eligible for the buyback, investors need to buy the shares by August 14.
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