Multibagger pharma stock's buyback of shares to open soon. Details here
5 min read . Updated: 12 Dec 2022, 01:53 PM IST
Premium- Multibagger pharma company has declared buyback of shares at ₹702 per equity share
Buyback of shares 2022: Shares of Jenburkt Pharmaceuticals Ltd are one of those stocks that have given stellar return to its shareholders in post-Covid stock market rebound. After bottoming out in April 2020, Jenburkt Pharmaceuticals share price has ascended to the tune of 641 apiece. In fact it retraced after making 52-week high of ₹699.70 on BSE. so, it is one of the multibagger stocks that Indian stock market has produced in last three years. But, long-term investors have another opportunity to make money out of their position.
The small-cap pharma company has declared buyback of shares at ₹702 per equity share and the buyback offer is opening on 13th December 2022 i.e. on tomorrow. the offer will remain open for six months after opening of the buyback offer. This means Buyback offer will end on 12th June 2023. The small-cap pharma company has made it clear that buyback of shares will be executed via open market route.
As per the information available on BSE website, "Trading Members are hereby informed that Jenburkt Pharmaceuticals Limited (Scrip code: 524731) has announced buyback of its fully paid-up equity shares of face value of Rs. 10/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs. 702/- (Rupees seven hundred and two only) per equity share payable in cash for an aggregate amount not exceeding Rs. 11.60 crores."
Here we list out key details in regard to Jenburkt Pharmaceuticals buyback details:
1] Jenburkt Pharmaceuticals buyback price: The small-cap pharma company has announced buyback of shares at ₹702 per equity share.
2] Jenburkt Pharmaceuticals buyback date: Buyback offer will open on 13th December 2022 and it will end on 12th June 2023.
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3] Jenburkt Pharmaceuticals buyback size: The buyback of shares would not exceed ₹11.60 crore worth of shares.
4] Jenburkt Pharmaceuticals buyback premium: Jenburkt Pharmaceuticals share price today is ₹641 and buyback offer is priced at ₹402, which means buyback is offered at a premium of near 10 per cent.
5] Jenburkt Pharmaceuticals buyback proceeds: This buyback would enable the small-cap pharma company to improve its EPS (earning per share) by distributing the surplus reserves of the listed company.
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