Claris Lifesciences will buy-back shares aggregating 14.49% of its total equity capital from shareholders for a total of Rs 231.25 crore. The company will buy-back up to 92.5 lakh shares of face value Rs 10 each at a price of Rs 250. As on February 1, 2014 the promoter and promoter group had a holding of 60.21% stake in the company.
The buy-back through tender offer route gives an option to all the equity shareholders, including the promoter shareholders, to receive the surplus cash by participating in it. The process is being implemented through the tender offer route and would involve allocation of 15% of the outlay to small shareholders.
Claris Lifesciences is one of the few injectables companies in India to have its own front end in the US, the company markets its products through its wholly owned subsidiary Claris Lifesciences Inc. The company now has 11 ANDAs approved and has a total filing of 32 ANDAs.
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| Rashi Peripheral | 455.25 |
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