Broadband solution provider Sterlite technologies on Friday announced Rs 145 crore share buyback plan.
"The Board in the aforementioned meeting, have approved the Buy-back by the Company of its equity shares for an aggregate amount not exceeding Rs 145 crore, being 9.95 per cent and 9.32 per cent of the total paid-up share capital and free reserves (including securities premium) of the company," STL said in a regulatory filing.
The company has fixed maximum buyback price of Rs 150 per cent equity. It has fixed October 6 as the last date for the scheme.
Shares of STL closed at Rs 63.9 apiece, down by 2.37 per cent, on the BSE.