Godawari Power buyback: Board meeting fixed on 18th March. Details here
1 min read . Updated: 16 Mar 2023, 08:35 AM IST
Premium- Godawari Power buyback: The company board will consider and approve buyback of shares in its meeting scheduled on Saturday this week
Godawari Power buyback: The steel manufacturer company is soon going to consider buyback of shares. As per the latest exchange communication of Godawari Power and Ispat Ltd with Indian bourses, the board of directors are going to consider buyback of shares in its scheduled board meeting on 18th March 2023. Announcements in regard to buyback size, record date for buyback of shares, buyback price, etc. are also expected after the board meeting on 18th March i.e. on Saturday this week.
Informing Indian bourses about share buyback proposal, Godawari Power and Ispat said, "Pursuant to Regulation 29(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that, a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, the l8th day of March 2023, inter alia, to consider a proposal for buyback of fully paid up equity shares of the Company of face value of ₹5/- each as well as matters related/incidental thereto, in accordance with the applicable provisions under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws."
"Further, in pursuance to the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (as amended from time to time) and the Company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in securities of the Company shall be closed from 15th day of March, 2023 (after dissemination of this notice) up to 48 (forty eight) hours after the conclusion of the Board Meeting scheduled to be held on Saturday, the 18`h day of March 2023," Godawari Power and Ispat Ltd said.
Godawari Power share price finished around 3.50 per cent high on Wednesday deals. However, this buyback of share news was shared on BSE website after the stock market close on Wednesday. So, the metal stock is expected give movement as market investors are expected to respond to this buyback of share news.