Sharda Motor Industries has informed that in continuation of the letter dated April 18, 2024 with regard to the approval granted by the Board of Directors of the Company to undertake buyback of up to 10,27,777 (Ten Lakh Twenty Seven Thousand Seven Hundred and Seventy Seven only) fully paid-up equity shares of the Company, each having a face value of INR 2/- (Indian Rupees two only) (Equity Shares), representing up to 3.46% of the total number of equity shares in the paid-up equity share capital of the Company, at a price of INR 1800/- (Indian Rupees One Thousand Eight Hundred only) per Equity Share (Buyback Price) payable in cash for an aggregate amount not exceeding INR 1,84,99,98,600 (One Hundred and Eighty Four Crore Ninety Nine Lakh Ninety Eight Thousand Six Hundred only) (Buyback Size), on a proportionate basis through the ‘tender offer’ route, in accordance with the provisions under the Companies Act, 2013, and rules made thereunder and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (Buyback Regulations), and other applicable law (Buyback).
The above information is a part of company’s filings submitted to BSE.
