Shervani Industrial Syndicate has announced a buyback offer, payable in cash, of up to 2.465 lakh shares, representing 7.56 per cent of the total number of ordinary shares, from all the public shareholders. Shareholders whose names appear on the company’s record as of September 1, 2017 can participate in the offer, which is on a proportionate basis through the tender offer route. The buyback price is ₹205 a share. The buyback offer opens on October 30 and closed on November 10.