Kalpataru buys back shares worth Rs 142.68 crore

Kalpataru buys back shares worth Rs 142.68 crore

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Kalpataru Power Transmission Ltd on Friday said it has bought back 58.06 lakh equity shares for Rs 142.68 crore, which constitutes 71.34 per cent of the buyback size on the offer.

"The company has bought back 58,06,262 equity shares at an average price of Rs 245.75 per equity share," according to a BSE filing.

Accordingly, it added that the company has deployed Rs 142,68,70,928.45, which represents 71.34 per cent of the maximum buyback size.

The company had announced to buy back its equity shares from the open market through the stock exchange mechanism, for an aggregate amount not exceeding Rs 200 crore.

Consequently, on Friday, the buyback committee has approved the closure of the buyback pursuant to the terms of the public announcement, with effect from the close of trading hours of November 27, it added.

According to the statement, after the buyback, the equity stake of promoter and promoter group has increased to 56.49 per cent from 54.37 per cent earlier.