The company's board approved buyback worth upto Rs 21 crore at a price not exceeding Rs 2,100 each.
At the maximum buy-back size and the maximum buyback price, the indicative maximum number of equity shares to be bought back under the buyback would be 1,75,000 equity shares, representing 1.37% of paid-up equity shares of the company.The maximum buyback size represents 9.73% and 8.47% of the aggregate of the total paid-up equity share capital and free reserves of the company.
As on 13 January 2023, promoters and promoter group held 49.26% in the company.
Assuming the buyback of maximum buyback shares, promoter group holding will increase to 49.95%.
Shares of KDDL fell 2.95% to Rs 1036.25 on the BSE. The maximum buyback price is 102.65% premium to the ruling market price.