Shareholders of DB Corp approve Rs 3.13-billion buyback plan

Media firm DB Corp on said its shareholders have approved a Rs 3.12 billion share buyback proposal.

"The special resolution...has been passed with requisite majority by the members of the company," DB Corp said in a BSE filing.

"This is furtherance to our letter dated June 7, 2018 informing you of dispatch of notice of postal ballot to the members of DB Corp Ltd (the Company) seeking their approval through Special Resolution for the buyback by the company of up to 92,00,000 fully paid-up equity shares of face value of Rs 10 each at a price of Rs 340 per equity share from all the members of the company," the filing said.

The company had earlier said the buyback would be subject to approval of the shareholders by way of a special resolution through postal ballot and all other applicable statutory approvals.