Saturday 28 April 2018

Jagran to buy back 1.5 crore shares; board approves proposal

Jagran will buy back shares worth Rs. 292.5 crore, as the Prakashan board has approved the proposal to  buy back 1.5 crore shares at a price of Rs 195 per equity share. This is 4.82% stake in the company.


The board of the company also formed a committee for the purpose of the buyback and has delegated its power to the Buyback Committee to finalise the terms of the buyback including the mechanism for the buyback, record date, entitlement ratio, schedule of activities, opening and closing date of the buyback, and time frame for completion of the buyback.

The buyback will be carried out through free reserves and/or securities premium account or such other sources as may be permitted by law, from the existing shareholders of the company who hold equity shares as of the record date.

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