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What is the story about?
Shares of Matrimony.com have surged as much as 12% in trading on Monday, December 8, as the company announced that it will be considering a proposal for a share buyback on Monday, December 15.
This will be the third share buyback that the company will be announcing in the last three years. Its previous two buybacks came in 2022 and 2024. Record date for the current buyback is yet to be announced.
Back in September 2024, Matrimony.com had announced a ₹72 crore share buyback. It repurchased 7.02 lakh equity shares between October 30 to November 6 last year at a price of ₹1,025 per share. The buyback price was at a 27% premium to the previous day's closing price on September 5, when the buyback announcement was made.
Matrimony.com had announced its first share buyback in May 2022, where the company had announced a ₹75 crore share buyback at a price of ₹1,150 per share. The buyback was announced at a premium of 71% to the previous day's closing price.
In either of these instances, Matrimony.com shares have not managed to test their buyback price. The all-time high that the stock had hit was back in February 2021, when the stock had hit a high of ₹1,242, well before the buybacks were announced.
Shares of Matrimony.com are trading 10.1% higher on Monday at ₹523.6. The stock is down 21% so far in 2025, despite today's move.
This will be the third share buyback that the company will be announcing in the last three years. Its previous two buybacks came in 2022 and 2024. Record date for the current buyback is yet to be announced.
Back in September 2024, Matrimony.com had announced a ₹72 crore share buyback. It repurchased 7.02 lakh equity shares between October 30 to November 6 last year at a price of ₹1,025 per share. The buyback price was at a 27% premium to the previous day's closing price on September 5, when the buyback announcement was made.
Matrimony.com had announced its first share buyback in May 2022, where the company had announced a ₹75 crore share buyback at a price of ₹1,150 per share. The buyback was announced at a premium of 71% to the previous day's closing price.
In either of these instances, Matrimony.com shares have not managed to test their buyback price. The all-time high that the stock had hit was back in February 2021, when the stock had hit a high of ₹1,242, well before the buybacks were announced.
Shares of Matrimony.com are trading 10.1% higher on Monday at ₹523.6. The stock is down 21% so far in 2025, despite today's move.
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