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The proposed buyback price is Rs 10,000 per share, reflecting a premium of 43.15% at yesterday’s closing price.
The buyback offers intend to repurchase maximum of 40,00,000 equity shares which is equivalent to 1.41% of the paid-up equity capital as of 31 March 2023.
The maximum buyback size represents 16.33% and 14.49% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated financial statements of the company as on 31 March 2023, respectively.
As on 5 January 2023, promoters and promoter group held 54.94% stake in Bajaj Auto.
Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.
The company's consolidated net profit jumped 17.5% to Rs 2,020.05 crore in Q2 FY24 as compared with Rs 1719.44 crore in Q2 FY23. Net sales rose 6.8% YoY to Rs 10,584.67 crore in Q2 FY24.
The scrip hit an all-time high at Rs 7,420 in intraday today.
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