Mayur Uniquoters’ R25-crore buyback offer will commence on October 5 and the stock holders can submit shares until October 20. The company plans to repurchase 5 lakh equity shares or 1.08% of the paid-up capital at R500 per share.
Mayur Uniquoters has appointed Chartered Capital and Investment Limited as the manager of the buyback offer. According to the document submitted with the exchanges, the buyback offer is 7.31% of the fully paid-up equity share capital and free reserves of the company as of March 31.
The company had cash and equivalents of R116.2 crore for the year ended March 31,2016. Mayur Uniquoters’ shares closed at R425.40 at BSE on Thursday.
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