Aarti Drugs board approved a Rs 59.85 crore 48% premium share buyback for 6.65 lakh shares.
Aarti Drugs board approved a Rs 59.85 crore share buyback, purchasing up to 6.65 lakh shares at Rs 900 per share, a 48% premium. The buyback represents 0.72% of the company's paid-up capital & has a 59.66% premium over the previous closing price. The record date is set for 5th September. This is Aarti Drugs' sixth share buyback since 2016, aiming to boost stock value and investor confidence. The company, involved in manufacturing and marketing APIs, Pharma Intermediates, and Specialty Chemicals, reported a 30.5% drop in net profit and a 16% decline in net sales in Q1 FY25 compared to Q1 FY24.
August 26, 2024
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