The buyback will be executed through a ‘tender offer’ at a price of ₹1,615 per share, which is a 6% premium over the current market level.
This is Nucleus Software’s third share buyback, following similar initiatives in 2017 and 2021. The previous buyback, in 2021, was priced at ₹700 per share.
The increase in share buybacks by more than 17 companies since July 23 reflects the new tax regulations introduced in Budget 2024.
The company’s shares closed at ₹1,410.55 on the NSE on Monday, up 0.74%. Over the past year, they have risen 37.37%, with a 52-week high of ₹1,822.95.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.