Asahi Songwon’s board approves Rs9.60 crore buyback plan; stock adds ~1%

In its submitting with the exchanges, Asahi Songwon Limited has accredited the buyback of two,40,000 fairness shares, which doesn’t exceed 25% of the entire fairness shares of the corporate.

The mixture most quantity of the Buyback is Rs9.60 crore, which doesn’t exceed 10% of the mixture of the paid-up capital and free reserves as per the final audited monetary statements (on each standalone and consolidated foundation) of the Firm as of March 31, 2022.

The fairness shares will probably be purchased again for Rs400 per fairness share.

The variety of shares talked about is the utmost variety of shares to be purchased again below the board’s decision.

The corporate shall not situation any Fairness Shares or different specified securities together with by the use of bonus until the date on which the fee of consideration to shareholders who’ve accepted the buyback supply is made.

The buyback could be topic to the situation of sustaining minimal public shareholding necessities as laid out in Regulation 38 of the SEBI Itemizing Laws.

Asahi Songwon Colours is at the moment buying and selling at Rs305 up by Rs2.4 or 0.79% from its earlier closing of Rs302.60 on the BSE. The scrip opened at Rs313 and has touched intraday excessive and low of Rs313 and Rs304 respectively.