Tips Industries announces Rs 32.76 crore share buyback at over 40% premium
The share buyback has been announced at an over 40% premium as against the current market price of around Rs 1840 apiece.
By Roshni Agarwal, ETMarkets.com |
Agencies
Tips Industries today announced a Rs 32.76 crore share buyback. The company announced a buyback of its fully paid-up equity shares of face value of Rs. 10 each not exceeding 1,26,000 shares, which represents up to 0.97% of the total number of shares in the paid-up equity at a price of Rs 2,600 per share.
The share buyback has been announced at an over 40% premium as against the current market price of around Rs 1840 apiece.
Shares of Tips Industries are multibagger with 3-year returns at 2394%, while in the last 1-year it has gained over 27%.
Tips Industries, with a market capitalization of around Rs 2400 crore is an Indian music record label and film production, film promotion, and film distribution company in Mumbai, Maharashtra, India.
Post the buy-back announcement, shares of the company traded weak by over 2% at Rs 1835 apiece on the NSE
The share buyback has been announced at an over 40% premium as against the current market price of around Rs 1840 apiece.
Shares of Tips Industries are multibagger with 3-year returns at 2394%, while in the last 1-year it has gained over 27%.
Tips Industries, with a market capitalization of around Rs 2400 crore is an Indian music record label and film production, film promotion, and film distribution company in Mumbai, Maharashtra, India.
Post the buy-back announcement, shares of the company traded weak by over 2% at Rs 1835 apiece on the NSE
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
