Abbott India to buyback shares worth Rs 50.24 cr
Drug maker Abbott India on Friday said it will buyback shares worth up to Rs 50.24 cr from its shareholders at a price of Rs 630 per share.
By PTI |
MUMBAI : Drug maker Abbott India on Friday said it will buyback shares worth up to Rs 50.24 cr from its shareholders at a price of Rs 630 per share.
The company informed the Bombay Stock Exchange that it will buyback 7.97 lakh shares at a price of Rs 630 per share for an aggregate amount of Rs 50.24 cr.
The buyback size represents less than 25 per cent of the company's paid-up equity capital and eligible free reserves as on March 31, 2007. The offer would open on July 11 and close on September 02.
Shares of the company closed at Rs 550, up 1.74 per cent on the BSE.
Abbott India, a part of the global diversified healthcare company Abbott, has a network of 18 distribution points, which cater to 11,000 stockists and 70,000 retailers.
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