Ajanta Pharma announces Rs. 285 Cr Buyback at 24% Premium

Ajanta Pharma announced a buyback program worth Rs. 285 cr of 10.28 lakh shares on Thursday. This is at a premium of 24%.

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The buyback program will give investors a 24% premium at the buyback price of Rs. 2770 per share against the closing price of Rs. 2233 on Thursday.

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The buyback record date is 30th May 2024 and a total of 10,28,881 shares will be included in the tender offer, which is 0.82% of the outstanding equity shares.

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Ajanta Pharma has been performing well and generated a cash flow of Rs. 812 cr. Its cash conversion ratio is 69%. With this, the Board of Directors decided to announce the buyback of shares.

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The company’s shares were trading in a range of Rs. 2364.00 to Rs. 2540 on Friday. It also reached a 52-week high at Rs. 2540.

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Ajanta Pharma announces Rs. 285 Cr Buyback at 24% Premium

Ajanta Pharma announced a buyback program worth Rs. 285 cr of 10.28 lakh shares on Thursday. This is at a premium of 24%.

Buyback Program

The buyback program will give investors a 24% premium at the buyback price of Rs. 2770 per share against the closing price of Rs. 2233 on Thursday.

Premium

The buyback record date is 30th May 2024 and a total of 10,28,881 shares will be included in the tender offer, which is 0.82% of the outstanding equity shares.

Record date

Ajanta Pharma has been performing well and generated a cash flow of Rs. 812 cr. Its cash conversion ratio is 69%. With this, the Board of Directors decided to announce the buyback of shares.

The reason behind buyback

The company’s shares were trading in a range of Rs. 2364.00 to Rs. 2540 on Friday. It also reached a 52-week high at Rs. 2540.

Share price hike

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