Bayer CropScience fixes record date for Rs 455 cr buyback

NEW DELHI: Agro-chem firm Bayer CropScience Ltd today said it has fixed October 8 as the record date for buy-back of about 28.8 lakh shares of the company for about Rs 455 crore.

Board of the company at its meeting held on September 25, has approved October 08, 2013 to be the 'Record Date' for determining the entitlement and the names of the equity shareholders, it said in a BSE filing.

The company has fixed a record date to see who the shareholders or holders of record are and whom the letter of offer and tender form will be sent and will be eligible to participate in the buyback.

The maximum number of equity shares proposed to be bought back represents 7.29 per cent of the total number of shares in the paid-up share capital of the company.

Promoters currently hold 71.11 per cent stake in the company.

Germany-based Bayer CropScience operates in three business segments: crop protection, bioscience and environmental science in India.

It offers wide range of products and extensive service backup for modern, sustainable agriculture as well as for non-agricultural applications.

Shares of the company today closed at Rs 1533.20 a piece up by 0.36 per cent on the BSE.