Bajaj Auto to buyback shares worth INR 4,000 cr

Bajaj Auto Limited, a leading automobile manufacturer, has revealed plans for a significant buyback program. The company aims to repurchase up to 40,00,000 fully paid-up equity shares at a price of INR 10,000 per share, totalling INR 4,000 crore. This move is part of the company’s strategy to enhance shareholder returns and improve key financial metrics.

The buyback offer, which is open from March 6 to March 13, 2024, is available to both resident and non-resident shareholders. The record date for determining buyback entitlement is February 29, 2024. Small shareholders holding up to 25 shares are classified separately, and the Promoters and Promoter Group may also participate in the buyback.

The company’s financial statements show consistent growth in revenue and net profit over the years, reflecting a strong performance in the market. The buyback will be funded from free reserves, and an escrow account has been set up to ensure transparency and compliance with regulations.

Shareholders are encouraged to review the detailed information provided by Bajaj Auto Limited before participating in the buyback program.