Symphony buyback 2023: The Symphony Ltd board of directors has set March 29, 2023, as the record date for buying back shares. The company has already said that it will buy back 200 crore shares in February 2023. The shares would be bought back through the tender route, and the price per share has been set at 2,000. The price of a Symphony share on the NSE today is 1,128. This means that the buyback of shares has been announced at a premium of nearly 75%.
Symphony Ltd told Indian bourses about the buyback record date by saying, “Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and Regulation 9(i) of SEBI (Buy-back of Securities) Regulations, 2018, as amended, it is hereby informed that the Company has fixed Wednesday, March 29, 2023 as the record date for the purpose of determining the entitlement and the names of equity shareholders who shall be eligible.”
On other Symphony buyback details, the company said, “This is with reference to our earlier notifications dated February 08, 2023 informing the Stock Exchanges that the Board of Directors approved the proposal of the Company to Buy-back 10,00,000 fully paid-up equity shares of the Company of face value of INR 2/- (Indian Rupees Two only) through the “tender offer” route, each at a price of INR 2,000/- (Indian Rupees Two Thousand only) per
Here are the top five things you should know about buying back a Symphony:
1] The company has said that it will buy back shares of Symphony for 2,000 each.
2] Symphony buyback record date: The company has set March 29, 2023, as the record date for figuring out who can be bought back.
3] The buyback process for Symphony: The tender route will be used to buy back the shares.
4] Symphony buyback acceptance rate: Since the buyback was announced at a huge 75% premium, a lot of people are likely to apply, which means the acceptance rate will be lower.
5] How much would it cost to buy back shares of Symphony? It would cost 200 crore to buy back shares.
Source: Team CurrencyVeda