Ajanta Pharma’s board has approved a share buyback plan of up to Rs 286 crore, wherein the drug maker will buy back shares at a maximum price of Rs 2,550 apiece. The total pay-out towards buyback of shares will be not exceeding Rs 356 crore, including a share buyback consideration not exceeding Rs 286 crore and tax not exceeding Rs 70 crore, on a proportionate basis through the tender offer process.
Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages.
