The company has said in a stock exchange filing that “This is in furtherance of our intimation letter dated November 14, 2022, informing the Stock Exchange about the decision of the board of directors of SoftSol India Limited (the “Company"), at its meeting held on November 14, 2022, having considered and approved buyback of fully paid up equity shares of the Company having a face value of INR 10/- (Indian Rupee Ten Only) ("Equity Shares") through the "tender offer" route, at a price of INR 170/- (Indian Rupees One hundred and Seventy only) per Equity Share, payable in cash, for an aggregate amount not exceeding INR 35,00,00,000/- (Indian Rupees Thirty Five crores only), excluding expenses to be incurred for the transaction (such buyback the "Buyback). Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and Regulation 9(i) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, we wish to inform you that the Company has fixed Friday, January 13, 2023, as the Record Date for the purpose of determining the entitlement and the names of the holders of the Equity Shares who shall be eligible to participate in the Buyback."
The shares of SoftSol India Ltd closed today on the BSE at ₹159.55 apiece level, down by 1.02% from the previous close of ₹161.20. The stock recorded a total volume of 5,637 shares compared to the 20-Day average volume of 1,257 shares. The stock has produced a multibagger return of 243.78% over the past five years, and a multibagger return of 620.32% during the past three years. The stock has dropped 1.18% over the past year, and it has lost 27.31% YTD so far in 2022. The stock had touched a 52-week-high of ₹229.65 on (04/01/2022) and a 52-week-low of ₹95.95 on (18/10/2022), indicating that at the current market price the stock is trading 66.28% above the 1-year low and 30.52% below the 1 year high. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 72.42% and a public stake of 27.58%.
