The Board of Directors of HSIL Ltd, at its meeting held on 21st September, 2020, has approved the proposal for buyback of fully paid up equity shares of face value of Rs. 2/- (Rupees two) each from open market through Stock Exchanges i.e. National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE"), as prescribed under the Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 and the Companies Act, 2013 at a maximum buyback price of Rs. 105.00 per Equity Share ("Maximum Buyback Price") payable in cash for an aggregate amount of Rs. 70,00,00,000 (Rupees Seventy Crores) (hereinafter referred to as the "Maximum Buyback Offer Size") from the equity shareholders / beneficial owners of the equity shares of the Company ( other than the promoters, the promoter group and persons in control of the Company). The Maximum Buyback Offer Size excludes transaction costs viz. brokerage, cost, fees, turnover charges, buyback tax and other applicable taxes including but not limited to securities transaction tax, goods and services tax (if any) and income tax, stamp duty, advisors fees, filing fees and other incidental and related expenses etc.
The Maximum Buyback Offer Size represents 7.19% of the aggregate of the total paid up Equity share capital and free reserves (including securities premium) of the Company based on the audited standalone financial statements of the Company for last financial year ended on 31st March, 2020, being less than 10% (ten percent) of the paid up Equity share capital and free reserves of the Company.
At Maximum Buyback price and for Maximum Buyback Offer Size, the indicative maximum number of Equity Shares to be bought back would be 66,66,667 (Sixty Six Lakh Sixty Six Thousand Six Hundred Sixty Seven) Equity Shares ("Maximum Buyback Shares") which is 9.22% of the total number of Equity Shares of the Company. If the Equity Shares are bought back at a price below the Maximum Buyback Price, the actual number of Equity Shares to be bought back could exceed the Maximum Buyback Shares (assuming full deployment of Maximum Buyback Offer Size) but will always be subject to the Maximum Buyback offer Size.
Shares of HSIL LTD. was last trading in BSE at Rs.71.4 as compared to the previous close of Rs. 73.4. The total number of shares traded during the day was 38932 in over 484 trades.
The stock hit an intraday high of Rs. 75.5 and intraday low of 69.45. The net turnover during the day was Rs. 2829599.