Submission of Letter of Offer for buyback of 11,00,000 equity shares at price of Rs. 200/- per equity shares payable in cash for total considertaion not exceeding Rs. 22,00,00,000/-
Price
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Puretrop Fruits Ltd has submitted a Letter of Offer to BSE for a buyback of 11,00,000 (11 lakh) equity shares at Rs. 200 per share in cash. The total consideration for the buyback will not exceed Rs. 22,00,00,000 (Rs. 22 crore). The buyback is being conducted through the tender offer route as per SEBI regulations. The actual number of shares bought back may be less depending on the response from shareholders.
The buyback at Rs. 200 per share is positive for shareholders as it can support the stock price and signals management's confidence in the company's value. Shareholders should evaluate tendering their shares based on the market price versus the buyback price and their tax implications.