Bajaj Auto, Chambal Fertilisers to consider buyback of shares next week

Both Bajaj Auto and Chambal Fertilisers have fixed their board meeting for 8th January 2023 i.e. on Monday next week. These listed companies have already informed Indian stock market exchanges about the buyback proposal.

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Bajaj Auto buyback

In one of its latest exchange filings, Bajaj Auto informed Indian bourses about the buyback proposal saying, “The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a proposal to buyback of fully paid-up equity shares of the Company and other matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable.”

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If the board of directors of Bajaj Auto Ltd approves the buyback of shares, then it would be the second Bajaj Auto buyback in the last two years. The auto major had declared buyback of shares in July 2022 at ₹4,600 per equity share. The previous Bajaj Auto buyback size was ₹2,500 crore.

Chambal Fertilisers buyback

In its exchange filing, Chambal Fertilisers and Chemicals Ltd has informed Indian exchanges that the board of directors is going to consider and approve the proposal for buyback of shares in its meeting scheduled on 8th January 2024 i.e. on Monday next week.

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Chambal Fertilisers informed Indian exchanges about the buyback proposal citing, “The meeting of the Board of Directors of the Company is scheduled on 08/01/2024, inter alia, to consider and approve a proposal to buyback equity shares of the Company in accordance with the applicable provisions of the Companies Act, 2013 (including the rules framed thereunder) and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.”

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Published: 06 Jan 2024, 12:30 PM IST