Jagran Prakashan has opened buyback offer for subscription to its shareholders on March 24. The company is planning to acquire up to 1.55 crore shares, representing 4.74 per cent of the total outstanding shares, at Rs 195 a share. The offer size is Rs 302.25 crore and it is planning to mop it up on a proportionate basis through a tender offer.
The company had fixed February 22 as the record date to identify eligible shareholders to participate in the buyback.
Jagran Prakashan has business interests in area of newspapers, outdoor, internet, magazines, below the line marketing solutions, and mobile value added services.
