Hinduja Global Solutions' consolidated net profit rose 66% year-on-year to ₹81.3 crore in September quarter

SYNOPSIS
The record date for the purpose has been fixed as March 6,2023 in order to determine determining the names of the equity shareholders .

The Hinduja Group’s business process management entity, Hinduja Global Solutions (HGS) on Friday announced that the company's board has approved buyback programme worth ₹1,020 crore.

The company said that it has fixed final buyback price of ₹1,700 per equity share. The buyback size, which is not to exceed ₹1,020 crore, excluding any expenses incurred in the buyback programme.

“Fixed the Final Buyback price of Rs1,700 (Rupees One Thousand and Seven Hundred Only ) per equity share (the “Buyback Price" ) for an aggregate consideration not exceeding ₹1020,00,00,000 (Rupees One Thousand and Twenty Crores only), excluding any expenses incurred or to be incurred for Buy-back viz," said Hinduja Global Solutions in its regulatory filing.

The record date for the purpose has been fixed as March 6,2023 in order to determine determining the names of the equity shareholders .

“Fixed, Monday, March 6, 2023 as the Record Date for the purpose of determining the names of the equity shareholders who will be eligible to participate in the Buyback and their entitlements," said the company in the filing.

The company said that the total number of shares to be bought back in the buyback programme is sixty lakhs which represents 24.59 per cent and 13.43 percent of the aggregate of the fully paid-up equity share capital and free reserves of the company.

“The total number of shares to be bought back in the Buyback shall be upto 60,00,000 (Sixty Lacs) equity shares representing 24.59% and 13.43% of the aggregate of the fully paid-up equity share capital and free reserves of the Company as per audited condensed standalone interim financial statements and audited condensed consolidated interim financial statements of the Company as on September 30, 2022 of the Company respectively," said Hinduja Global Solutions in the filing.

The company's scrip ended 0.089 per cent up at ₹­1,299.20 on BSE.

Courtesy: Mint, BS, Money Control