Maharashtra Seamless has received its board approval for Rs 100 crore share buyback plan at a price not more than Rs 300 per share through the open market.
The buyback will be within 10% of the paid up capital and free reserves of the company as per audited accounts for the financial year ended March 31, 2012. The buy-back shall be from the open market through stock exchanges.
Maharashtra Seamless (MSL) is engaged in the business of manufacturing pipes and tubes. Company is part of Rs.3000 Crore DP Jindal Group. Company also manufactures ERW pipes and seamless pipes.
