Bajaj Auto has announced a buyback of Rs 4,000 crore. Swipe for the details.
The buyback will be executed through the tender offer route. The buyback price is Rs 10,000 per share, a 43% premium to the closing price on January 08, 2024.
It aims to buy around 40 lakh shares, about 1.41% of the total outstanding shares. Note that no timeline for the buyback has been disclosed.
It will fund the buyback through internal accruals. It has cash and current investments of around Rs 5,743 crore.
Interested shareholders should carefully weigh the company's potential for future growth and the offered premium before participating.