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What is the story about?
Shares of drugmaker Aurobindo Pharma Ltd. will be in focus on Monday, April 6, after its board has approved a "buyback" of its equity shares.
In a filing shared with the exchanges, Aurobindo Pharma said that its board has approved the buyback of up to 54,23,728 fully paid-up equity shares of the company, each of which have a face value of ₹1 each.
The number of shares that will be repurchased represent up to 0.93% of the total number of equity shares of the company.
Aurobindo Pharma will be buying back the equity shares at a price of ₹1,475 apiece, which is a premium of 10% from last Thursday's closing price.
The total consideration for this buyback will be ₹800 crore, as per the exchange filing.
The buyback will be carried out via the "tender offer" route, which means that all the potential shares will be repurchased at the price pre-determined by the board, which is ₹1,475 apiece.
Aurobindo Pharma has fixed Friday, April 17, 2026 as the record date to determine the eligibility of shareholders who can participate in the buyback.
This means that those shareholders, who own shares of the company in their demat account as of Thursday's closing on April 16, will be eligible to participate in the buyback.
This is Aurobindo Pharma's first share buyback in nearly two years.
Back in August 2024, the company had announced the repurchase of 51.36 lakh equity shares at a price of ₹1,460 apiece. The drugmaker had spent ₹750 crore for this buyback, which was also carried out via the tender offer route.
Shares of Aurobindo Pharma recovered from the lows of the day last Thursday, ending 0.4% lower at ₹1,336. The stock is trading close to its 52-week high of ₹1,359.9, and has risen 8.5% over the last one month.
In a filing shared with the exchanges, Aurobindo Pharma said that its board has approved the buyback of up to 54,23,728 fully paid-up equity shares of the company, each of which have a face value of ₹1 each.
The number of shares that will be repurchased represent up to 0.93% of the total number of equity shares of the company.
Buyback Details
Aurobindo Pharma will be buying back the equity shares at a price of ₹1,475 apiece, which is a premium of 10% from last Thursday's closing price.
The total consideration for this buyback will be ₹800 crore, as per the exchange filing.
The buyback will be carried out via the "tender offer" route, which means that all the potential shares will be repurchased at the price pre-determined by the board, which is ₹1,475 apiece.
Record Date
Aurobindo Pharma has fixed Friday, April 17, 2026 as the record date to determine the eligibility of shareholders who can participate in the buyback.
This means that those shareholders, who own shares of the company in their demat account as of Thursday's closing on April 16, will be eligible to participate in the buyback.
Buyback History
This is Aurobindo Pharma's first share buyback in nearly two years.
Back in August 2024, the company had announced the repurchase of 51.36 lakh equity shares at a price of ₹1,460 apiece. The drugmaker had spent ₹750 crore for this buyback, which was also carried out via the tender offer route.
Shares of Aurobindo Pharma recovered from the lows of the day last Thursday, ending 0.4% lower at ₹1,336. The stock is trading close to its 52-week high of ₹1,359.9, and has risen 8.5% over the last one month.
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