Dishman Carbogen Approves Buy Back Equity Shares Upto Rs 150

The Board of Directors of Dishman Carbogen Amcis Ltd, at its meeting held on today, i.e., January 16, 2020, has approved the Buy-back of fully paid up equity shares by the Company having face value of Rs. 2/- each (“Equity Share(s)”) from open market through stock exchange mechanism prescribed under the Buy-back Regulations and the Act, for an amount not exceeding Rs. 72,00,00,000/- (Rupees Seventy Two Crores Only) excluding transaction costs viz. fees, brokerage, applicable taxes such as securities transaction tax, goods and services tax, income tax, stamp duty, etc. (“Transaction Costs”) (“Maximum Buy-back Size”) at a price not exceeding Rs. 150/- (Rupees One Hundred and Fifty Only) per Equity Share (“Maximum Buy-back Price”) payable in cash which represents 1.48% and 1.38% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited standalone and consolidated financial statements respectively, of the Company for the financial year ended on March 31, 2019 from the equity shareholders/beneficial owners of the Equity Shares of the Company other than the Promoters, members of Promoter Group and Persons in control of the Company (“Buy-back”).

At the Maximum Buy-back Size and the Maximum Buy-back Price, the indicative maximum number of Equity Shares to be bought back under the Buy-back would be 48,00,000 Equity Shares which represents 2.97% of the total number of Equity Shares of the Company. The actual number of Equity Shares bought back during the Buyback will depend upon the actual price, excluding the Transaction Costs, paid for the Equity Shares bought back and the aggregate consideration paid in the Buy-back, subject to the Maximum Buy-back Size. Further, the number of Equity Shares bought back under the Buy-back will not exceed 25% of the total number of Equity Shares of the Company.

Shares of Dishman Carbogen Amcis Ltd was last trading in BSE at Rs.88.95 as compared to the previous close of Rs. 84.75. The total number of shares traded during the day was 203134 in over 2533 trades.

The stock hit an intraday high of Rs. 88.95 and intraday low of 85.95. The net turnover during the day was Rs. 17889354.-Equity Bulls