Blue Dart Express plans to buy back shares at Rs 1700-1800/share

DHL promoted Blue Dart Express is looking to buy shares from the public at Rs 1700 – 1800 per share, a person familiar with the development said on condition of anonymity. An announcement of the same is expected in the next 2 months post which the company may consider delisting.

The promoters DHL Express holds 81.03% stake in the company while the balance is held by certain HNIs, SBI Mutual Fund and IDFC Mutual Fund. When contacted the management declined to comment on the delisting news.

The stock was locked on 20% upper circuit after the story was broken on ET NOW. The stock is currently trading at its lifetime high.