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Bajaj Auto is planning to buy back 40 lakh shares at Rs 10,000 each, totaling Rs 4,000 crore. This buyback offer represents 1.41% of all outstanding shares.
Highlights of Bajaj Auto’s Rs 4,000 Crore Buyback Program Commencing Today
Bajaj Auto’s shares were in the spotlight on Wednesday, March 6, as the company’s Rs 4,000 crore buyback program began today.
Bajaj Auto buyback price and mode
The company that makes two-wheelers and three-wheelers wants to buy back 40 lakh shares for Rs 10,000 each, which adds up to Rs 4,000 crore. This buyback offer is for 1.41% of all the company’s shares that are currently available.
The price rose by a significant 21.8% compared to the previous closing price of Rs 8,207.30 on the NSE (March 5).
In a statement dated February 16, Bajaj Auto mentioned, “This is following our earlier disclosure on February 19, 2024, regarding the public announcement to buy back up to 40,00,000 (Forty Lakhs) fully paid-up equity shares of the company with a face value of Rs 10 each at Rs 10,000/- per equity share, totaling not more than Rs 4,000 crore excluding transaction costs, taxes, and other related expenses.”
Bajaj Auto buyback open date 2024, Bajaj Auto buyback closing date
Bajaj Auto is offering a buyback starting on March 6th and ending on March 13th. The record date for this buyback was February 29, 2024, which determines who can participate.
For small shareholders, they can get seven shares for every 27 shares they held on the record date. Other eligible shareholders can receive one share for every 82 shares they held on the record date.
