Sasken Communication Technologies has received shareholders approval for buyback of equity shares, at a price not exceeding Rs 425 per share for a total consideration of about Rs 120 crore. The total number of equity shares to be bought back in the buyback shall be 29,27,879 equity shares, representing 16.52% of the total issued and paid-up equity share capital of the company as on March 31, 2016. The aforesaid terms of buyback are within the maximum limits approved by the Board of Directors at its meeting held on October 27, 2016 and as approved by shareholders by special resolution, through postal ballot.
Sasken Communication Technologies offers a range of services in areas of research & development consultancy, wireless software products and software services, and works with network OEMs, semiconductor vendors, terminal device OEMs and operators across the world.
