Business
Buyback alert! 5 stocks turning ex-record dates for share buybacks in May. Check details – Share buybacks
Zydus Lifesciences on Tuesday announced its biggest-ever share buyback worth Rs 1,100 crore at a buyback price of Rs 1,150 per share, offering nearly a 10.5% premium over the stock’s previous closing price. Zydus Lifesciences’ board approved a plan to buy back up to 95.65 lakh shares, each with a face value of Re 1, representing 0.95% of the company’s paid-up equity share capital, for an aggregate amount not exceeding Rs 1,100 crore. The buyback will be conducted via the tender route. The record date to determine shareholders’ eligibility for the buyback has been fixed as May 29 (next Friday).
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