Zydus Lifesciences Limited has informed the Exchange regarding 'Intention of promoters to participate in buyback'.
ZYDUSLIFE · price
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Zydus Lifesciences has announced that its promoter group and persons in control have communicated their intention to participate in the company's ongoing buyback programme. The buyback involves up to 95,65,217 equity shares (0.95% of total paid-up capital) at INR 1,150 per share, with a total outlay capped at INR 1,100 crore. The buyback is being conducted via the tender offer route under the Companies Act, 2013 and SEBI Buyback Regulations. Promoter participation indicates their willingness to tender shares at the buyback price.
Promoter participation in the buyback signals confidence in the company's valuation. The buyback at INR 1,150 per share provides an exit opportunity to shareholders at a likely premium to market prices, benefiting those who choose to participate.