“The board of directors of
Limited at its meeting held on November 01, 2022, has inter-alia approved the proposal to buyback its own fully paid up Equity Shares having Face Value of Rs. 2/- each (‘Equity Shares’) from the equity shareholders as on Record Date, for upto 10,00,000 fully paid up Equity Shares (being 2.15 % of the total paid up Equity Share Capital of the Company) at a price of Rs. 850/-per share for an aggregate amount not exceeding Rs. 85 crore only, (being less than 10% of the Paid Up Capital and Free Reserves as on March 31, 2022) on a proportionate basis through the “Tender Offer” route as per SEBI Buyback Regulations and the Companies Act, 2013,” said the company’s filing with the exchange.
The company has fixed November 18 as the record date.
Shares of Dhanuka Agritech have yielded multibagger returns of 144% in the last 3 years, while on a year-to-date basis, it has yielded negative a return of over 12%.
Dhanuka Agritech, with a market capitalization of around Rs 3,400 crore, is among the country’s leading agro-chemical companies and is listed by Forbes Magazine in the category of “200 Best under A Billion Companies in Asia Pacific”.
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