SIS LIMITED has informed the Exchange regarding Notice of Postal Ballot
SIS · price
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SIS Limited is seeking shareholder approval through a postal ballot to buy back up to 37,12,871 equity shares (representing 2.57% of total paid-up equity capital) at ₹404 per share, for an aggregate amount not exceeding ₹150 crore. The buyback will be executed through the tender offer route on a proportionate basis, in compliance with the Companies Act and SEBI Buyback Regulations. The offer price represents a premium of around 23.21% and 23.14% over the 3-month volume weighted average market price on BSE and NSE respectively, and 36.69%–38.57% over the closing prices on the intimation date of March 20, 2025 (₹295.55 on BSE and ₹295.35 on NSE). The buyback size constitutes 15.19% and 6.49% of fully paid-up equity and free reserves on standalone and consolidated financials, within the statutory 25% ceiling. Shareholders can vote via remote e-voting from April 29, 2025 to May 28, 2025, with results expected by May 30, 2025. The board had approved the proposal on March 25, 2025.
If approved, the buyback would reduce the share count, potentially boosting EPS and ROE, and signals management's view that the stock is undervalued. Shareholders can choose to tender shares at a meaningful premium to recent market prices or continue holding for any post-buyback re-rating.