VRL Logistics has received its board’s approval to buy back its equity shares worth up to Rs 41.40 crore for a price not exceeding Rs 460 a share. This means, the company can buy back a maximum of 7.65 per cent of the total paid-up share capital and free reserves of the company based on the audited financial statements of the company as at March 31, 2017.
The offer is open for all the shareholders, excluding promoters, promoter groups and persons acting in concert. The offer, which would be through open market purchases, would be payable in cash. The company’s board gave approval for the same at its meeting held on November 3, 2017.
VRL Logistics is one of the leading providers of transportation and logistics service for goods and passenger transportation services in India. It has spread its operations to courier service, express cargo and aviation to meet the growing demand of the burgeoning customer base.
Company Name | CMP |
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