The board of IT services firm eClerx on December 15 approved a proposal to buy back Rs 300 crore shares at Rs 1,750 each.

According to the established issuance scale and repurchase price, the total number of shares repurchased this time is 17,14285, accounting for 3.38% of the company’s total paid-in share capital.

According to the BSE filing, the company has fixed December 27 as the record date for determining who is eligible to participate in the offer. Shareholders to whom the letter of offer and tender offer form will be given in connection with the buyback and the rights of the equity shareholders.

It is the company’s second share buyback in as many months. The company acquired Rs 303 crore in October last year by buying back shares at Rs 2,850 each through a tender offer, CNBC-TV18 reported.

Recently, the company has been in the news after announcing a bonus share offering in August this year. Shareholders will receive one new bonus share for every two shares they hold.

In the September quarter, the company’s net sales stood at Rs 650.29 crore, up 24.28% from Rs 523.25 crore in the same period last year.

The company’s net profit for September 2022 quarter stood at Rs 125.92 crore, up 25% from Rs 100.74 crore in the same quarter last fiscal. EBITDA stood at Rs 202.24 crore, up 21.82% year-on-year from Rs 166.01 crore. eClerx Services’ earnings per share (EPS) declined to Rs 25.35 in September 2022 from Rs 29.50 (YoY).