Shares of Chambal Fertilisers & Chemicals Ltd and Shree Ajit Pulp And Paper Ltd will be in focus when the stock market opens on Thursday, January 18. The Board of Directors of these companies have declared buyback of shares and rights issue for the eligible shareholders.
Share buyback
Chambal Fertilisers & Chemicals: The company has declared buyback of shares worth ₹700 crore. The record date to ascertain the eligibility of shareholders for the share buyback has been fixed on January 18.
In a stock exchange filing, Chambal Fertilisers & Chemicals said: “….the Board of Directors of the Company approved the buyback of up to 1,55,55,555 fully paid-up equity shares of the Company of face value of Rs. 10/- for an aggregate consideration not exceeding Rs. 700 crore (Rupees Seven Hundred Crore only), each at a price of Rs. 450/- (Rupees Four Hundred and Fifty only) per equity share on a proportionate basis through the tender offer route in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder, and Buyback Regulations.”
Shares of Chambal Fertilisers & Chemicals will trade ex-buyback on Thursday.
Chambal Fertilisers & Chemicals stock closed at ₹386.10, down 0.18% on Wednesday.
Also Read: Stock market today: IEX, Metropolis, SAIL, 10 other shares placed under F&O ban list
Rights Issue
Shree Ajit Pulp And Paper: The company has declared a rights issue of equity shares. The record date to ascertain the eligibility of shareholders for the rights issue has been fixed on January 18.
In a stock exchange filing, Shree Ajit Pulp And Paper said: “…the Company has fixed Thursday, January 18, 2024 as the record date for the purpose of determining names of the shareholders of the Company eligible to apply for the Equity Shares in the proposed Rights Issue of the Company.”
Shares of Shree Ajit Pulp And Paper will trade ex-rights on Thursday.
Shree Ajit Pulp And Paper stock closed at ₹419.20, up 1.74% on Wednesday.
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Published: 18 Jan 2024, 06:23 AM IST