IT firm Geodesic today surged over 11 per cent on the Bombay Stock Exchange after the company said it would buyback its equity shares from the existing shareholders through open market at a maximum price of Rs 75 a piece.
The board of directors has "approved the maximum buyback price of Rs 75 per share," Geodesic said in a filing to the Bombay Stock Exchange.
In January, the board had approved a proposal to buyback 25 per cent of its equity shares through open offer.
Shares of Geodesic were trading at Rs 50.55, up 11.59 per cent in the afternoon trade on the BSE.
