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Shares of Security Intelligence Services (SIS) vaulted 9 per cent to Rs 465 on the BSE in Tuesday s intra-day session after the company on Monday, post market hours, announced a share buyback offer worth Rs 100 crore.
The company in an exchange filing on February 15, 2021, said that it would buyback 18,18,181 equity shares, representing 1.24 per cent of the total paid-up equity capital as on March 31, 2020.
The firm has set the buyback price at Rs 550 per share which is 29 per cent higher than its previous close of Rs 426.15.
The Board of Directors noted the intention of the promoters and members of the promoter group of the company to participate in the proposed buyback.