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Novartis India gets nod for Rs 231.15 crore buyback plan

26 Sep 2017 Evaluate

Novartis India has received an approval for buyback of up to 34.5 lakh shares, accounting for about 12.26% of the existing paid up capital of the company, for up to Rs 231.15 crore. The company’s board has approved a buyback proposal for purchase by the company of up to 34.5 lakh equity shares of Rs 5 each at a price of Rs 670 per share.

Novartis is a world leader in the research and development of products to protect and improve health and well-being. The company has core businesses in pharmaceuticals, vaccines, consumer health, generics, eye care and animal health.


Peers
Company Name CMP
Redington 356.35
Adani Enterprises 2731.05
Amrapali Industries 34.31
Maxgrow India 175.85
Rashi Peripheral 864.95
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