Piramal Enterprises share buyback opens today. Five details you should know

Piramal Enterprises has already informed Indian stock market bourses about the buyback of shares citing, “The Board of Directors of the Company have approved the buyback of up to 1,40,00,000 (One Crore Forty Lakh only) fully paid-up equity shares of the Company of face value of Rs.2/- (Rupees Two only), for an aggregate amount not exceeding Rs. 1,750 Crore (Rupees One Thousand Seven Hundred Fifty Crore only), each at a price of Rs. 1,250/- (Rupees One Thousand Two Hundred and Fifty only) per equity share on a proportionate basis through the tender offer process.”

Important Piramal Enterprises share buyback details

1] Piramal Enterprises share buyback price: The company has fixed buyback price at ₹1250 per share.

2] Piramal Enterprises share buyback date: The buyback offer has opened today and it will remain open for eligible shareholders of the company till 6th September 2023.

3] Piramal Enterprises buyback eligibility: Record date for Piramal Enterprises buyback was on 25th August 2023. This means those who bought Adani Enterprises shares till 24th August 2023 and hold the scrip on 25th August 2023, they are eligible for this buyback offer.

4] Piramal Enterprises buyback acceptance ratio: Piramal Enterprises share price today is around ₹1,060 apiece, which means buyback offer is available at a premium of near 18 per cent. Hence, higher number of application is expected and hence acceptance ratio is expected to remain lower.

5] Piramal Enterprises share buyback other details: Link Intime India Private Ltd has been appointed as official registrar of the offer while JM Financial Limited has been appointed as lead manager of the buyback offer.

Updated: 31 Aug 2023, 10:56 AM IST