Hyderabad-based IT company GSS America today said that it will buy back shares from the open market at a price not exceeding Rs 250 a share.
This price is a premium of 122.42 per cent over the closing price on the Bombay Stock Exchange and National Stock Exchange prevailing on the date of the board meeting held on January 29, 2009, the company said in a statement.
Under the buy back scheme, the company will buy shares worth Rs 20 crore. This will enable them to buy about 10 per cent of the total shares. The buying will start from February 17 and the last date for buy back is January 29 next year.
