Granules India Limited announces Buyback of equity shares at Rs 400 per scrip
Granules India

The Board of Directors of the Granules India Limited , at its meeting held on August 09, 2022, approved the buyback of not exceeding 62,50,000 (Sixty Two Lakh and fifty Thousand only) fully paid-up equity shares of the Company, having a face value of Rs. 1/- (“Equity Shares’), representing 2.52% of the total number of Equity Shares in the paid-up equity share capital of the Company, at a price of Rs.400 (Four Hundred only) per Equity Share payable in cash for an aggregate amount not exceeding Rs.250,00,00,000 (Two Hundred and Fifty Crore only) (“Buyback Size”), on a proportionate basis through the tender offer route, in accordance with the Companies Act, 2013, as amended, 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 laws. The Buyback size represents 9.93% and 9.92% of the aggregate of the Company’s total paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements as of March 31, 2022, respectively.