NEW DELHI: IT services firm eClerx on Thursday announced share buyback plan with a final buy back price of Rs 1,750 a piece.
In a regulatory filing to the bourses, the firm said that the aggregate amount of the buyback would be Rs 300 crore.
The total number of shares to be bought in the buy back shall be 17,14,285 equity shares. This represents 3.38% of the total number of equity shares in the total paid up capital of the company.
eClerx has fixd December 27 as the record date for the purpose of determining names of equity shareholders who are eligible to participate in the buy back and their entitlements, the company said in its filing.
"The aforesaid terms of buy back are within the maximum limits approved by the Board of Directors at its meeting held on November 10, and as approved by the shareholders by way of a special resolution through postal ballot, results of which were announced on December 14," the statement added.
Shares of eClerx was trading 1.47% down at Rs 1,377.45 on the BSE at 3pm.
