Zydus Lifesciences announces buyback, at a price of Rs 650 per share

The Board of Directors of Zydus Lifesciences have approved buyback of not exceeding 1,15,38,461 (One Crore Fifteen Lacs Thirty Eight Thousands Four Hundred and Sixty One) fully paid-up equity shares of the Company, each having a face value of INR 1/- (“Equity Shares”), representing up to 1.13% of the total number of equity shares in the paid-up equity share capital of the Company, at a price of INR 650/- (Indian Rupees Six Hundred and Fifty only) per Equity Share payable in cash for an aggregate amount not exceeding INR 750,00,00,000/- (Indian Rupees Seven Hundred and Fifty only) (“Buyback”), 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 SEBI Buy-Back of Securities) Regulations, 2018, as amended (“Buyback Regulations”), and other applicable law.

In terms of the Buyback Regulations, under the tender offer route, the members of the promoter and promoter group of the Company (“Promoter Group”) and persons in control of the Company have the option to participate in the Buyback. The members of the Promoter Group and persons in control of the Company have communicated their intention to participate in the Buyback and tender Equity Shares based on their entitlement and to offer such number of additional Equity Shares, if so required, to ensure that post the Buyback the Company continues to be in compliance with the minimum public shareholding norms as prescribed under applicable laws.