TTK Prestige hits 52-week high as board OKs Rs 200-cr share buyback

TTK Prestige board approved share buyback of up to Rs 200 crore at a price of Rs 1,200 per equity share.

The buyback price fixed at Rs 1,200 per equity share, representing a 25.63% premium to Thursday closing price of Rs 955.15 on the BSE.

The company will buyback up to 16.66 lakh fully paid-up equity shares, representing upto 1.2% of the total paid-up equity shares of the company.

The buyback offer size represents 9.88% and 9.88% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated financial statements of the company as on 31 March 2024, respectively.

 

The company has fixed 14 August 2024 as the record date for the purpose of determining the entitlement and the names of equity shareholders who would be eligible to participate in the buyback.

TTK Prestige manufactures kitchen appliances and cookware, under the Prestige brand.

The kitchen appliances manufacturer reported 1.01% decline in consolidated net profit to Rs 57.42 crore on 1.89% slide in revenue from operations to Rs 622.56 crore in Q4 FY24 over Q4 FY23.

Shares of TTK Prestige hit 52-week high of Rs 1,011 in todays intraday session.

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