(20 second reading) Anand Rathi Wealth aims to repurchase approximately 370,000 fully paid-up equity shares, each with a nominal value of Rs 5, accounting for 0.88% of the company’s total issued shares.
The buyback offer is priced at Rs 4,450 per share, representing a 9.9% premium over the closing price on Friday. The aggregate buyback amount is capped at Rs 164.65 crore. The shares will be bought back via a “tender offer” method, ensuring a fixed buyback price.
This marks the company’s inaugural share buyback since its December 2021 listing. Since then, Anand Rathi Wealth has distributed dividends totaling Rs 28 per share. The board has sanctioned a Rs 9 per share dividend for the March quarter, culminating in a total distribution of Rs 37 per share since its public offering.
The record date for the buyback has not been announced yet.