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BHARTI AIRTEL LTD. - Board approves Buy-back of equity shares
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27 Apr 2016
Bharti Airtel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 27, 2016, commenced at 1345 Hrs and concluded at 1830 Hrs, inter-alia, has:&lt;BR&gt;&lt;BR&gt;- Considered and approved the proposal to buyback the fully paid-up equity shares of face value of Rs. 5 each of the Company (the &quot;Equity Shares&quot;) from the shareholders of the Company on a proportionate basis through a tender offer (the &quot;Buy back&quot;).&lt;BR&gt;&lt;BR&gt;The Buy back shall be up to an aggregate amount not exceeding Rs. 1,434 Crores (Rupees One Thousand four hundred and thirty four Crores Only) (hereinafter referred to as the &quot;Buyback Size&quot;), at a price of Rs. 400/- per Equity Share translating into approximately 3,58,50,000 Equity Shares, representing 0.90% of the total paid up equity share capital of the Company, subject to the regulatory and other approvals, if any.&lt;BR&gt;&lt;BR&gt;The Board has constituted the Committee of Directors to finalize other terms and appointment of intermediaries for the Buy back and administer the buyback procedure.&lt;BR&gt;&lt;BR&gt;The pre buyback shareholding pattern as on March 31, 2016 is enclosed.
View all announcements for BHARTI AIRTEL LTD. Source: BSE India