Jagsonpal Pharmaceuticals Limited has informed the Exchange regarding Outcome of Board Meeting held on March 12, 2026.
JAGSNPHARM · price
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On the reaction day the stock moved 6.6 pts more than Nifty Microcap 250 and 6.7 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Jagsonpal Pharmaceuticals has approved a proposal to buy back up to 16 lakh equity shares (2.39% of paid-up capital) at Rs. 250 per share, aggregating up to Rs. 40 crores. The buyback represents 18.35% of the company's paid-up equity and free reserves as per the March 31, 2025 audited financials. It will be carried out through the tender offer route on a proportionate basis, subject to shareholder approval via postal ballot. Promoters and promoter group will not be participating in the buyback. Centrum Capital has been appointed as the merchant banker for the process.
If approved, the buyback at Rs. 250 per share could provide a floor for the stock price and return surplus cash to public shareholders, as promoters are not tendering their shares. Shareholders will need to approve the proposal through a postal ballot, details of which will be announced separately.