Share Buyback: Company to repurchase shares after stock falls 88% from peak

Shares of Nureca Ltd. will be in focus on Friday, November 28, after the company announced a buyback of equity shares at the conclusion of its board meeting.

The company has announced that it will be buying back 5.8 lakh equity shares of the company or 5.79% of the total outstanding equity as part of the buyback process.

Price of the buyback has been fixed as ₹330 per share, which is a 20% premium in comparison to Thursday's closing price. Nureca will be spending a sum of ₹19.14 crore.

The buyback will be carried out via the tender offer route, which means that the shares will be repurchased at the pre-determined price, which in this case, is ₹330 per share.

Record date for the buyback has been fixed as December 12, 2025, which means that those shareholders, who have shares of Nureca in their demat account as of closing on December 11, will be eligible to participate in the buyback.

Nureca has also stated in its exchange filing that promoters of the company do not intend to participate in the share buyback process.

Promoter shareholding in Nureca, which currently stands at 64.97%, will rise to 68.97% at the completion of the buyback process, Nureca's filing stated, assuming full acceptance of the buyback.

Medical equipment supplier Nureca, had see a sharp surge in its share price during the Covid-19 pandemic, hitting a record high of ₹2,316.6 in October 2021, but has since corrected by nearly 90% over the next four years.

Such has been the correction that the stock is also now trading below its IPO price of ₹400 per share.

Shares of Nureca had ended in a 5% upper circuit on Thursday at ₹275.85.