CMS Info Systems extinguishes 49.39 lakh shares under Rs 168 crore buyback
CMSINFO · price
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On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.6 pts more than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CMS Info Systems has completed its buyback, extinguishing 49,39,126 equity shares at Rs 340 per share for an aggregate Rs 167.93 crore via the tender offer route on a proportionate basis. Paid-up share capital is reduced from 16,46,37,541 to 15,96,98,415 equity shares of Rs 10 each, a reduction of about 3 percent.
Reduces share count by 3 percent, likely boosting EPS. Signals management confidence. Tendering shareholders received Rs 340 per share.