Vaibhav Global Limited has announced the completion of Buyback of its equity shares from the open market through the stock exchange mechanism.
The Board, through its resolution dated May 30, 2019, and the members of Vaibhav Global Limited ("Company"), through a special resolution passed through postal ballot dated August 05, 2019, had approved the proposal by the Company to buy back its own fully paid-up equity shares of face value of INR 10/- each ("Equity Shares") from the members of the Company (other than the promoters, the promoter group and persons in control of the Company) payable in cash, for an amount aggregating up to INR 72 crore ("Maximum Buyback Size") at a price not exceeding INR 1,000/- (Rupees One Thousand only) per Equity Share, under the open market route through the stock exchanges.
The Buyback commenced on August 20, 2019 ("Commencement Date"), in accordance with the procedure provided under the Buyback Regulations.
In this regard, please be informed that the Company has,
1) Bought back 8,65,675 Equity Shares at an average price of INR 831.72 per Equity Share
2) Deployed an amount of ~INR 72 crore (excluding transaction costs)
3) Extinguished the bought back shares as per the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018
Shares of Vaibhav Global Ltd was last trading in BSE at Rs.807.25 as compared to the previous close of Rs. 807.55. The total number of shares traded during the day was 516 in over 28 trades.
The stock hit an intraday high of Rs. 820 and intraday low of 807.25. The net turnover during the day was Rs. 419961.