This small cap company announces Rs 100 crore buyback, sets August 13 as record date

Book publishing company Navneet Education today announced that its board has approved a buyback worth Rs 100 crore at a price of Rs 200 per share and has fixed August 13 as the record date for the purpose of determining the shareholder eligibility.

“The Board of Directors at its meeting held today has approved: The Buyback of up to 50,00,000 (Fifty Lakhs) fully paid-up equity shares of face value of 2/- (Rupees Two only) each of the Company ("Equity Shares") representing up to 2.21 % of the total paid up Equity Shares of the Company at a price of Rs. 200/- (Rupees Two Hundred only) per Equity Share ("Buyback Price") payable in cash for an aggregate amount of up to 100,00,00,000/- (Rupees Hundred Crores Only) (-Buyback Size-),” said the company in an exchange filing.

The company also informed that the announcement regarding setting out the process, timelines and other details will be intimated in the due course of time.


As of July 26, 63.31% shares of the company are held with the promoter and the promoter group while the remaining 36.69% rests in the hands of public shareholders.

Also read: TTK Prestige approves Rs 200 crore buyback. Check record date

The shares of the company have increased by 5% in the last one year while in the last 6 months, the stock has gained 4%. On a year-to-date basis, the shares of Navneet Education have increased by approximately 9.3%, as per the BSE analytics.

Established in 1959 by the Gala Group, the company has a market capitalization of Rs 3,691.80 crore (as of July 29 closing) and manufactures stationery, general books and children’s books in multiple Indian and foreign languages making it a dominant player in the field of publishing.

Vikas, Gala, Grafalco, YOUVA, TOPClass and TOPScorer are prominent brands owned by Navneet.

Navneet Education shares were trading 2% higher at Rs 167.15 around 2:30 pm on BSE.

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