Bajaj Auto: Shareholders Approve 5632 Crore Buyback at INR 12,000 per Share

Buyback Premium Above 10pctCorporate Actions View source PDF

BAJAJ-AUTO · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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-1.3%1-day move

₹10078.00

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₹10181.00

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AI summary

Bajaj Auto shareholders approved a buyback of up to 46.94 lakh equity shares (1.68 percent of paid-up capital) at INR 12,000 per share, totalling up to INR 5,632.80 crore. The price is at a premium of about 26 percent to the 3-month volume weighted average market price on BSE and NSE. Buyback will be done via the tender offer route on the stock exchange. Promoters will not participate. Funded from free reserves and securities premium, within the 25 percent statutory limit.

Likely market impact

Positive for eligible shareholders who can tender shares at a 26 percent premium to market. Should lift earnings per share and returns. Promoters not participating.