Tanla Platforms buyback ex-date
Informing Indian stock market exchanges about record date for buyback of shares, Tanla Platforms said, "In terms of Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 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 Buyback Committee of the Company, being duly authorized by the board of directors of the Company in this regard, has vide its resolution dated October 12, 2022 considered, fixed and approved Tuesday, October 25, 2022 as the Record Date for the purpose of determining the entitlement and names of shareholders, who will be eligible to participate in the proposed Buyback." So, the stock will trade ex-buyback on 24th October 2022.
Tanla Platforms buyback price
In an exchange communication dated 8th September 2022, Tanla Platforms buyback price was announced citing, "The board of directors of Tanla Platforms Limited approved the proposal for buyback of fully paid up equity shares of the Company having a face value of INR 1/- (Indian Rupee One Only) ('Equity Shares' and such buyback 'Buyback') through 'tender offer' route, at a price of INR 1,200/- (Indian Rupees One Thousand Two Hundred only) per Equity Share ('Buyback Offer Price'), payable in cash, for an aggregate amount not exceeding INR 170,00,00,000/- (Indian Rupees One Hundred and Seventy Crores Only), excluding any expenses incurred or to be incurred for the Buyback viz. brokerage, costs, fees, turnover charges, taxes such as buyback tax, securities transaction tax and goods and services tax (if any), stamp duty, advisors fees, filing fees, printing and dispatch expenses and other incidental and related expenses and charges ('Buyback Offer Size'), subject to Shareholder's approval."
Here we list out 5 important Tanla Platforms buyback details ahead of record date:
1] Tanla Platforms buyback price: The board of directors of the IT company has considered and approved buyback price of ₹1200 per equity share, which is around 40 per cent higher from its current share price of ₹840 apiece.
2] Tanla Platforms buyback ex-date: As Tanla Platforms buyback record date is 25th October 2022 and it has been announced on ex-date basis. Tanla Platforms will trade ex-buyback on 24th October 2022.
3] Tanla Platforms buyback type: The buyback of shares will be done on tender-basis.
4] Tanla Platforms buyback issue size: The company has announced that buyback of shares won't go beyond the agreement amount of ₹170 crore.
5] Tanla Platforms buyback ratio: Total buyback of shares are 14,16,666 equity shares, representing 1.04 per cent, of the total equity shares in the existing total paid-up equity share capital of the company.
