The Board of Directors of J. B. Chemicals & Pharmaceuticals Ltd. has, at its meeting held today inter-alia approved Buy-back of up to 29,54,545 fully paid-up Equity Shares of face value of Rs. 2/- each by the Company (representing 3.68% of the total paid-up equity shares of the Company) at a price of Rs. 440/- (Rupees four hundred forty Only) per Equity Share payable in cash for a total consideration not exceeding Rs.130 crores/- (Rupees one hundred thirty Crores only) (excluding transaction costs) which is 9.33% and 9.38% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited standalone financial statements and audited consolidated financial statements of the Company for the financial year ended on March 31, 2019 respectively, through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, on a proportionate basis, from the Equity Shareholders/beneficial owners of the Equity Shares of the Company including promoters, members of promoter group and persons acting in concert, as on the record date.
Shares of J.B.CHEMICALS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.397.3 as compared to the previous close of Rs. 384.8. The total number of shares traded during the day was 6155 in over 542 trades.
The stock hit an intraday high of Rs. 400 and intraday low of 389.65. The net turnover during the day was Rs. 2420331.