SHARE BUYBACK PROGRAMME
European shares start week on bright footing on autos, banks' boost
European shares rose on Monday, led by automobile and bank stocks, ahead of the first round of French parliamentary elections. Autos surged 1.6% after the EU and China agreed to discuss tariffs on Chinese EVs. Meanwhile, German business morale declined in June, reflecting concerns about the economy's momentum.
Elliott rebuilds stake in SoftBank and pushes for $15 billion buyback: Report
SoftBank Group's shares surged to a three-year high after activist investor Elliott Management proposed a $15 billion buyback. CEO Masayoshi Son's confidence in the strategy was highlighted. The financial boost was attributed to the success of British chip-designer Arm Holdings.
SaaS company AiDash launches first ESOP buyback plan for employees
The company says the buyback, which comes on the back of its $58.5 million series C funding round, underscores its commitment to shared wealth creation.
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
Airtel Africa Q4 Results: Net loss at $91 million on forex woes
Airtel Africa Q4 Results: In a statement Thursday, Airtel Africa said the board has approved a share buyback programme of up to $100 million over a period of 12 months. The company purchased 7.4 million shares for a total consideration of $9 million in March 2024.
Ajanta Pharma’s Rs 285 crore share buyback can yield up to 6% return for retail investors
Ajanta Pharma has fixed May 30 as the record date for its buyback of 0.82% of the aggregate paid-up share capital of the company at Rs 2,770 per share. The pharma stock was trading at Rs 2,399.55, up 1% on BSE around 1:30 pm on Monday.
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Meesho kicks off Rs 200-crore Esop buyback
Both current and former employees can participate in the buyback programme, its largest to date. Meesho said it had conducted similar buybacks of $1 million, $5 million and $5.5 million in February 2020, November 2020, and October 2021, respectively.
JP Morgan extends Rs 200 crore credit facility to Oyo
JP Morgan has provided Oyo with a Rs 200 crore credit facility to support the expansion of Oyo's Accelerator Programme. Launched in March last year, the program aids over 700 hotels and 85 first-generation hoteliers, offering mentorship, technology access, financial support, and networking opportunities.
Puma launches 100 million euro share buyback programme
German sports apparel company Puma plans to return up to 50% of its net income to shareholders, it said on Thursday. The company will now return between 25-40% of the Group's net income in dividends, up from 25-35%, the statement said.
Zydus Lifesciences' Rs 600 crore buyback offer to open on Feb 29
Zydus Lifesciences on Tuesday said its offer to buy back 59.7 lakh shares at Rs 1,005 apiece, aggregating to Rs 600 crore, will open on February 29. The share repurchase programme will close on March 6, 2024, the drug firm said in a regulatory filing.
Tips Industries board to consider share buyback proposal on February 28
Under a share buyback programme, a company buys back its own shares from shareholders. It is seen as a tax-efficient way to give cash back to investors. Share buyback reduces the number of shares available in the market, thereby increasing the real value of the stock.
TCS buyback begins: Should you tender shares in Rs 17,000-crore offer?
While the buyback entitlement for small investors, as defined by those with investments up to Rs 2 lakh, was fixed at 17%, the final acceptance ratio is expected to be around 30-35% in the category as not all shareholders participate in the buyback. The acceptance ratio has been 100% during the previous buybacks in 2017, 2018, and 2020. However, the acceptance ratio was around 24% during the last buyback in 2022.
TCS' Rs 17,000-crore share buyback to open on Dec 1
"The company believes that the buyback is not likely to cause any material impact on the profitability or earnings of the company except to the extent of reduction in the amount available for investment, which the company could have otherwise deployed towards generating investment income," TCS said in a regulatory filing.
TCS announces share buyback dates, retail entitlement fixed at 17%
The buyback will remain open for tendering till December 7. For small shareholders, as defined by those with investments less than Rs 2 lakh, the entitlement ratio has been fixed at 1 equity share for every 6 shares held on the record date (i.e. November 25). The ratio comes to about 17%.
TCS buyback: Rs 17,000-crore offer can generate double-digit returns in short term
At a board meeting last month, India's largest software services exporter had approved a proposal to buyback up to 4,09,63,855 equity shares of the company for Rs 17,000 crore, representing 1.12% of the total paid-up equity share capital, at Rs 4,150 per share.
TCS fixes November 25 as record date for proposed Rs 17000-crore share buyback
In October, India's largest software exporter had announced a Rs 17,000-crore share buyback programme through the tender offer route. The company plans to buy back up to 4.09 crore shares at a price of Rs 4,150 per share. This represents 1.12% of the total paid-up equity share capital of the company.
Retail investors can earn 5-17% over 3 months via TCS buyback
The country's largest software services exporter announced a ₹17,000 crore share buyback, where it will acquire 40.9 million shares at ₹4,150 per share, at a premium of 17.5% to its Thursday closing price of ₹3,542. Investors can tender the shares in the buyback to benefit from an arbitrage opportunity.
Adani Ports sees more offers at dollar bond buyback than planned
The yield on this note has dropped around 40 basis points since the company floated the buyback tender and was last at 8.43%
L&T could consider share buyback once in a few years: R Shankar Raman, CFO, L&T
Indian engineering company Larsen & Toubro's shares hit an all-time high after the firm announced its first-ever buyback proposal worth $1.33bn. CFO R Shankar Raman said the company had surpluses beyond requirements, adding that creating value to shareholders through dividends was one option, but the company opted for a buyback to return accretive.
L&T margins should improve in Q4 of current year and next 4 quarters: CFO
“I believe that from Q4 of the current year, the mix of orders that we are executing will become a little more biased towards better priced contracts. So to that extent, the last quarter of the current year and the next four quarters of the following year should indicate improvement in our margins.”
L&T approves Rs 10,000 crore share buyback at Rs 3,000/share
The buyback will involve 3.33 crore shares or 2.4% of the fully paid-up equity share capital. This is the first buyback announced by the company since the listing. The specific price at which the buyback will be executed may be determined by the Board soon.
Byju’s promoters sold shares worth $408 million; Wipro investors ride high on share buyback
The promoters of Byju’s sold their shares for millions of dollars since 2015, according to a research and data platform. However, a spokesperson for the edtech giant was quick to clarify that the proceeds were reinvested in the firm. This and more in today’s ETtech Top 5.
Wipro share buyback: Retail investors make double-digit gains in Rs 12,000 crore-offer
Investors who participated in the buyback will get their payment by July 7, and the unaccepted shares will also be returned to shareholders by the 7th of this month. The record date of Wipro's share buyback, which ran from June 22-30, was June 16. The share buyback price was fixed at Rs 445, while the closing price on the record date was Rs 381.30, implying a premium of 16.7%.
Wipro buyback closing date moved to Friday, June 30
The decision to change the closing date is in view of the shift in the working day from Thursday, June 29 to Wednesday, June 28, the company said in its filing to the exchanges.
Wipro share buyback to open on June 22, retail entitlement fixed at 23.4%
Wipro's ₹12,000 crore ($1.58bn) share buyback programme, its largest in history, will open on June 22 and close on June 29. Wipro will buy back about 26.97 crore shares at a price of ₹445, which is a 17% premium over Monday's closing price of ₹380. Small shareholders are eligible for the buyback if they hold 62 shares for every 265 shares. The buyback will extinguish 4.91% of shares and lead to an increase in the aggregate shareholding of the promoters to 73.37% from 72.91%.
Wipro share buyback open: 10 things to know before you apply
Indian IT company Wipro has launched its biggest share buyback programme worth INR120bn ($1.7bn). The buyback option is being offered at a premium of 15.4% to Wednesday's closing price, and small retail investors with holdings under INR200,000 will be offered 15% of the total buyback sum. The deadline for applications is 29 June, and shareholders whose shares are accepted will receive consideration from the broker by 6 July, while shares bought back will be extinguished by 17 July, reducing the equity base of the company.
Better to tender shares in Wipro's buyback: Analysts
The Bengaluru-based firm said for retail investors, the entitlement ratio - the indication of minimum shares that the company will definitely accept in the buyback - has been fixed at 23.4%, while for others, it is 4.3%. Analysts recommend retail investors tender shares in the buyback programme given the ongoing uncertainty in the sector.
Wipro share buyback: Can buy-now-tender-later trading strategy give smart returns?
Indian IT major Wipro has announced a buyback of up to around 26.97 crore shares at INR 445 ($6.05) per share as part of plans to extinguish about 4.91% of its total share issuance. The tender offer will be worth INR 12,000 crore ($1.62bn) and will be open from the end of June. Wipro is conducting a remote e-voting of shareholders to seek buyback deal approval, with the result set to be declared on 3 June, followed by the release of the buyback timeline.
Wipro announces Rs 12,000 crore share buyback scheme at 19% premium
Wipro will announce the process, record date, timelines, and other details of the share buyback scheme at a later date. In 2021, the software exporter bought back shares worth Rs 9,500 crore at an offer price of Rs 400 per share.
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