Bayer CropScience has received its board’s approval for buyback of 1.02 million shares at a price of Rs 4900 per share. The shares would be bought back from all the shareholders on a proportionate basis through the Tender Offer route at a price of Rs 4900 per share, aggregating to about Rs 500 crore.
Bayer CropScience is engaged in manufacturing and marketing of crop-protection solutions, and trades in seeds on behalf of group company Bayer Bioscience.