Cement producer Rain Commodities today said it will buy back shares worth Rs 26 crore from the existing shareholders pursuant to the approval from the market regulator, Sebi.
The board has approved the buying back of up to 12 lakh equity shares from the open market at a price not exceeding Rs 307 each, for an amount not exceeding Rs 26 crore, Rain Commodities said in a filing to the BSE.
Shares of the company closed at Rs 222.15, up 2.66 on the BSE.