Promoter Group Will Not Participate in Rs 1,500 Million Buyback

Promoter Group has informed that it will not participate in the company's buyback.

Tue 29 Sep 2026

Buyback Share Count

up to 1,562,500 equity shares

Buyback Price

INR 960 per share

Buyback Aggregate Amount

up to INR 1,500,000,000

Paid-up Equity Capital Percentage

up to 2.03%

Buyback Route

tender offer route on a proportionate basis

What was shared

The company informed the exchanges that members of its Promoter and Promoter Group, through letters dated September 29, 2026, have communicated their intention to not participate in the announced buyback.

Buyback terms as approved by the Board

• Up to 1,562,500 fully paid-up equity shares, each of face value INR 2
• Representing up to 2.03% of the total paid-up equity share capital
• Buyback price: INR 960 per equity share, payable in cash
• Aggregate amount not exceeding INR 1,500,000,000
• Route: tender offer, on a proportionate basis

Why this matters

Under the SEBI (Buy-Back of Securities) Regulations, 2018, promoters have the option to tender shares in a buyback done through the tender offer route. When the Promoter Group chooses not to participate, the shares reserved for tendering are effectively available to public shareholders, which can raise the proportion of shares that a public shareholder is able to tender successfully.

The buyback itself remains subject to the process and approvals set out under the Companies Act, 2013 and the Buyback Regulations.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.