Godrej Consumer plans fresh share buyback

 The company board will be meeting on October 22 to consider the buyback proposal.

 The company shares closed at Rs 146.90 today on the Bombay Stock Exchange (BSE), up 5.08 per cent.

 Earlier this year, the company had announced a buy-back plan through the open market at a maximum price of Rs 175 per share subject to a maximum outlay of Rs 10 crore. This issue closed recently.

 As on June 30, 2003, the promoters hold 66.98 per cent in the company, marginally up from 66.65 per cent in March 31, 2003. Institutional investors hold 16.89 per cent as compared with 16.28 per cent in March 31, 2003.

 The public shareholding has decreased to 14.14 per cent from 14.67 per cent as on March 31, 2003. The latest buy-back proposal would provide an exit opportunity for the existing shareholders.

 The move would also add to shareholders