SIS LIMITED has informed the Exchange about submission of Public Announcement dated May 30, 2025 for the Buyback of Equity Shares on June 2, 2025 in newspapers.
SIS · price
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SIS Limited has published its public announcement (dated May 30, 2025) on June 2, 2025 for a buyback of up to 37,12,871 fully paid-up equity shares (face value ₹5 each) at a price of ₹404 per share, for an aggregate amount not exceeding ₹150 crores. The buyback will be carried out through the tender offer route using the stock exchange mechanism, with NSE as the designated stock exchange. The Board approved the proposal on March 25, 2025, and shareholders cleared it via a special resolution through postal ballot on May 28, 2025 (results declared May 29, 2025). The Record Date for determining eligible shareholders is Friday, June 6, 2025. The buyback price represents a premium of around 23% over the 3-month volume-weighted average market price on both BSE and NSE, and equates to roughly 2.57% of the company's total paid-up equity capital. DAM Capital Advisors is acting as the manager to the buyback.
This is a positive development for shareholders, as the company is returning surplus cash at a healthy premium to market price, which should lend support to the stock in the near term. Promoters and the promoter group (collectively holding about 72%) will also participate in the buyback on a proportionate basis, signaling confidence in the company's valuation.