Bajaj Consumer Care Limited , a prominent player in the Indian consumer goods sector, has successfully completed its share buyback program, marking a significant milestone for the company and its shareholders.

Buyback Details

The company repurchased 64,34,482 equity shares at a price of INR 290.00 per share, totaling INR 186.60 crores. The buyback, conducted through the tender offer route, took place from September 11-17, with the record date set as September 5.

Strong Shareholder Response

The buyback program witnessed robust participation from shareholders, receiving 16,979 valid bids for 3,00,83,488 equity shares. This represented an oversubscription of approximately 4.69 times the maximum number of shares proposed for buyback.

Key Participants

Notable participants in the buyback included:

It's worth noting that the buyback excluded promoters and promoter group members.

Settlement and Extinguishment

The settlement of accepted bids was completed on September 24. The company is currently in the process of extinguishing the 64,34,482 repurchased shares, which is expected to be completed by October 6.

Impact on Share Capital

Post-buyback, Bajaj Consumer Care's paid-up share capital will reduce from INR 137.05 crores to INR 130.62 crores. The company's shareholding pattern will also see changes, with promoters and promoter group now holding 42.97% of the total equity, up from 40.95% pre-buyback.

Transparency and Compliance

In compliance with regulatory requirements, Bajaj Consumer Care has published post-buyback public announcements in Financial Express, Jansatta, and Dainik Navjyoti newspapers. The company has also made the information available on its website and filed it with the Securities and Exchange Board of India and the respective stock exchanges.

This share buyback demonstrates Bajaj Consumer Care's commitment to enhancing shareholder value and optimizing its capital structure. The strong oversubscription indicates investor confidence in the company's future prospects and financial health.

Bajaj Consumer Care Ltd has continued its share buyback program, repurchasing 48,105 equity shares on February 17, 2023. The company acquired these shares at an average price of Rs. 165.89 per share, demonstrating its commitment to returning value to shareholders.

Buyback Details

The share repurchase was executed through ICICI Securities Limited on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The breakdown of the shares bought back is as follows:

Cumulative Buyback Progress

With this latest transaction, Bajaj Consumer Care has now repurchased a total of 2,824,493 shares through its ongoing buyback program. This represents a significant number of shares being taken off the market, potentially increasing the value for remaining shareholders.

Share Information

Bajaj Consumer Care's equity shares have a face value of Re. 1 each. This low face value allows for greater flexibility in share transactions and can make the stock more accessible to a wider range of investors.

Buyback Mechanism

The company is conducting this share buyback through open market operations, utilizing stock exchange mechanisms. This method allows for a transparent and market-driven process, ensuring fair pricing for both the company and its shareholders.

The ongoing buyback program reflects Bajaj Consumer Care's confidence in its financial position and its commitment to enhancing shareholder value.