Quick Heal Technologies Ltd Board approves Buy-back of Equity Shares at Rs. 245

The Board of Directors of Quick Heal Technologies Ltd at its meeting held on March 10, 2021 commenced at 10:45 a.m. and concluded at 2:45 p.m has approved the proposal to buyback upto 63,26,530 Equity Shares of the Company, being 9.85% of the total paid up equity share capital of the Company, for an aggregate amount not exceeding ₹ 1550 million (Rupees one thousand five hundred and fifty million only) (hereinafter referred to as the "Buyback Size"), which is 24.09% and 24.24% of the aggregate of the fully paid-up Equity Share capital and free reserves as per the latest audited standalone and consolidated financial statements of the Company as on March 31, 2020 respectively, at ₹ 245 (Rupees Two Hundred and Forty Five only) per Equity Share (hereinafter referred to as the "Buyback Price"). The Buyback Size does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, printing and dispatch expenses, transaction costs viz. brokerage, applicable taxes such as buyback tax, securities transaction tax, goods and service tax, stamp duty, etc. and other incidental and related expenses and other incidental and related expenses.

The buyback is proposed to be made from the shareholders of the Company on a proportionate basis under the tender offer route using the stock exchange mechanism.

The Board has approved the constitution of Buyback Committee regard to buyback of equity shares of the Company.

Shares of Quick Heal Technologies Ltd was last trading in BSE at Rs.182.85 as compared to the previous close of Rs. 185.35. The total number of shares traded during the day was 58932 in over 1161 trades.

The stock hit an intraday high of Rs. 189.55 and intraday low of 181.4. The net turnover during the day was Rs. 10922647.

Source : Equity Bulls

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