The board of directors of Ajanta Pharma approved a share buyback of over 11,20,000 fully paid-up equity shares worth Rs 2 each at a price rate of Rs 2,550 per equity share payable in cash, according to Ajana Pharma’s statement.

The total pay-out in buyback of shares can not exceed Rs 356 crore on a proportional basis through the tender offer process. This share buyback will present 1.29 per cent of the total number of equity shares of the firm and 9.89 per cent paid-up share capital and free reserves of the firm as per the audited financial statements for FY21. The board has fixed January 14, 2022, to launch the share buyback.