5 firms buying back shares worth Rs 6k cr this year

As many as five listed companies, including Cairn India and DCM Shriram, have announced plans to buy back shares worth nearly Rs 6,000 crore from shareholders this year so far.

Other three firms that have launched their buyback offers are Isgec Heavy Engineering, Gujarat Apollo Industries and Indo Borax & Chemicals.

Together, all five firms have planned to infuse capital of Rs 5,940.85 crore to repurchase 19 crore shares from their respective shareholders through the open market route on stock exchanges, according to Sebi data.


Cairn India's whopping Rs 5,725-crore buyback offer, which was launched in January, is the major among five programmes this year.

These five firms would have to complete their buyback plans within a period of six months from date of opening their offer and it would also be mandatory for the companies to repurchase at least 50 per cent of the offers, under the new norms issued by Sebi in August, 2013.

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