Jagsonpal Pharmaceuticals Limited has informed the Exchange about Buyback
JAGSNPHARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
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 crore. The buyback 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 participate in the buyback, and Centrum Capital has been appointed as the manager to the buyback. Post-buyback, promoter shareholding is expected to rise from 67.2% to 68.9%, while public holding will drop from 32.8% to 31.1%.
This is a modest buyback (~2.4% of shares, Rs. 40 crore size) that could provide some support to the stock price. Since promoters are not participating and only public shareholders will tender shares, it signals capital return to retail and institutional investors. Shareholders should watch for the postal ballot and record date announcements for eligibility.