Today is the last day to buy Bajaj Auto shares for participating in the Rs 4,000 crore buyback offer. The record date to participate in the buyback is February 29. The buyback price is 18% higher than Tuesdays closing price of Rs 8,462 on BSE. The acceptance ratio in the retail category could be between 4% to 10%. The company has steady ROCE and stable revenue growth.
Bajaj Auto Buyback Share Price: Today is the last day to buy Bajaj Auto shares for participating in the INR 4,000 crore buyback offer. The record date to participate in the buyback is February 29. The buyback price is 18% higher than Tuesday’s closing price of INR 8,462 on BSE. The acceptance ratio in the retail category could be between 4% to 10%. The company has steady ROCE and stable revenue growth.
Bajaj Auto’s share buyback represented 16.33 per cent of the total paid-up equity share capital and 14.49 per cent of free reserves as per the audited standalone financial statements and audited consolidated financial statements for FY23.
The two-wheeler major will repurchase up to 40,00,000 shares for a price not exceeding Rs 10,000 a share, the company said in an exchange filing. Dalal Street is set to rejoice this news, as the buyback price is at a whopping 43% premium to the current market price.