BSE Ltd, one of India’s leading stock exchanges, has announced significant updates regarding its proposed share buyback program. The company’s board has approved an increase in the offer price for the buyback, now set at ₹1,080 per share, up from the previous ₹816 per share.
Additionally, the board has established September 14, 2023, as the record date for the share buyback. This date marks a crucial milestone for shareholders who will be eligible to participate in the buyback program.
The revised buyback price of ₹1,080 per share represents a 1.62% increase from the previous day’s closing price of ₹1,062.75 per share. In response to this news, BSE’s share price surged over 4%, reaching a 52-week high of ₹1,122.00 per share, surpassing the buyback price.
BSE’s decision to enhance the offer price demonstrates its commitment to providing value to its shareholders and reflects the company’s confidence in its financial health and future prospects. Shareholders will be closely watching this development as the buyback program progresses.