KPR mills gets Sebi nod for share buyback

KPR Mills got the market regulator Sebi’s approval for its proposed buyback offer of up to 37.52 lakh equity shares, reports Our Bureau. The company in July withdrew the buyback plan citing newly imposed 20 per cent buyback tax obligations on such offerings.

KPR Mill had announced on April 30 announced its plans to buyback as many as 37.51 lakh equity shares, representing 5.17 per cent of equity shares at a price of ₹702 apiece for a consideration, not exceeding ₹263.31 crore. “The schedule and other activities in this respect will be intimated in due course to the shareholders as on record date i.e. June 19, 2019” company said in an exchange filing.