Zydus Lifesciences Limited announced a share buyback of up to 1,15,38,461 shares, representing 1.13 percent of the company’s fully paid-up equity shares, today. The decision was announced in the company’s most recent exchange communication. The record date for share purchase has been set for June 2, 2022, and the buyback will take place at a price of 650 per share. Zydus Lifesciences Ltd is now trading at roughly 350 Rs per share.
Here are the top five things Zydus Lifesciences shareholders should be aware of:
1] Buyback price: The corporation has set the buyback price per equity share at Rs 350.
2] Record date: The record date for share buybacks has been set for June 2, 2022.
3] Buyback volume: The business’s board of directors has accepted a proposal to buy back up to 1,15,38,461 fully paid-up equity shares of the company, each with a face value of Re 1, representing up to 1.13 percent of the total number of equity shares in the company’s paid-up equity share capital.
4] Mode of buyback: “The buyback is proposed to be made on a proportionate basis from all of the equity shareholders/ beneficial owners of the Company, including the promoters of the Company (as defined under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011), who hold Equity Shares as of the record date, through the “tender offer” route as prescribed under the Buyback Regulations,” the company said.
5] Acceptance ratio: Because Zydus Lifesciences’ share price is currently at 350 and the company has lost over 25% in YTD time, the acceptance ratio is projected to continue on the upper side.
Final dividend of 250% announced as well
“The Board of Directors at their meeting held today have recommended final dividend of Rs. 2.50/- (@ 250 percent) per equity share of Re. 1/- each, subject to approval of the shareholders at the ensuing Annual General Meeting scheduled to be held on August 10, 2022,” Zydus Lifesciences Limited also informed Indian exchanges.