Zydus Lifesciences Ltd., the drugmaker, has announced the date for its buyback of equity shares on Tuesday.
In a filing to the exchanges, the company said that its ₹600 crore share buyback will open on Thursday, February 29 and close next Wednesday, on March 6.
Last date for the receipt of completed tender forms and other specified documents has also been fixed as March 6.
All bids for the buyback will be settled on the stock exchange on or before March 14.
Earlier this month, Zydus Life's board had approved to repurchase 59.7 lakh equity shares, which represent 0.59% of the company's total paid-up equity capital via the tender offer route.
A share buyback via the tender offer route means that the company will repurchase the shares at a fixed price.
The shares will be repurchased at a price of ₹1,005 per share.
Record date for the buyback was February 23.
Shares of Zydus Life are trading 0.4% higher at ₹946. The stock has risen 107% over the last 12 months.
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