Aptech jumps on receiving shareholders’ approval for buyback

09 Jul 2013

Aptech is currently trading at Rs. 62.45, up by 3.85 points or 6.57% from its previous closing of Rs. 58.60 on the BSE.

The scrip opened at Rs. 58.80 and has touched a high and low of Rs. 63.25 and Rs. 58.80 respectively. So far 148822 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 80.40 on 19-Jul-2012 and a 52 week low of Rs. 40.15 on 22-Mar-2013.

Last one week high and low of the scrip stood at Rs. 62.85 and Rs. 58.10 respectively. The current market cap of the company is Rs. 303.97 crore.

The promoters holding in the company stood at 38.56% while Institutions and Non-Institutions held 5.98% and 55.43% respectively.

Aptech has received the shareholders approval for share buyback proposal through postal ballot. The company has fixed the maximum buyback price at Rs 82, which translated into steep premium to the current market price of Rs 58.60 (closing as on July 8,2013), and aggregate consideration for buyback up to Rs 64.66 crore.

Company’s board of directors at its meeting held on May 13, 2013, already approved the buyback of company’s equity shares from the open market up to 25% of the capital and free reserve of the company as per the audited accounts as on March 31, 2013.

Aptech is provider of learning solutions to retail and corporate client across the world. The company operates two business segment retail and non retail. The retail segment consists of global information technology (IT), multimedia training and N-Power. Under this it has created brands like ACE (Aptech computer education), Arena animation, Avalon Academy, N-Power (hardware and networking) and Aptech Worldwide.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323