Crompton Greaves, the electrical equipment maker is all set to begin its Rs 265-crore buyback offer on July 15, 2013 and the same would close on June 27, 2014. The company has already received its board’s approval for the same in last month.
The company will purchase more than 2.12 crore shares during the buyback period. Shares would be acquired at a maximum price of Rs 125, valuing the offer at about Rs 265.7 crore. Religare Capital Markets is the sole broker for the buyback offer.
Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.
