The board of directors of Bajaj Auto on Monday approved share buyback of Rs 4,000 crore. The company plans to buyback 40 lakh shares at Rs 10,000/share. This is the second buyback of the company in the last two years.
Buyback 1.41% of total equity shares of the company
The maximum value of the buyback will be Rs 4,000 crore, it said in an exchange filing on Monday.
In volume terms, the company will buyback 1.41% of its total shares. In value terms, this is 16.33% of total shares and 14.49% of free reserves. Bajaj Auto shares closed at Rs 6,985.70 with a gain of 0.25% on BSE.
Earlier in July 2022, the company had bought back shares worth Rs 2,500 crore at Rs 4,600/share. This buyback was done through the open market route.
