Bajaj Auto begins Rs 2,500 cr share buyback

Bajaj Auto has commenced its Rs 2,500 share buyback programme with effect from July 4. The buyback will be carried out at a price not exceeding Rs 4,600 per equity share and for an aggregate amount of up to Rs 2,500 crore, representing 9.61 per cent of the aggregate of the total paid-up share capital of the company. Shares of the company were trading 0.43 per cent up at Rs 3,639.30 apiece on the BSE.

The company’s board, at its meeting held on June 27, had approved the proposal for buyback of the fully paid-up equity shares of the company with a face value of Rs 10 each from existing shareholders, except promoters and promoter group, from the open market.