Sun Pharma on Friday said it has completed buyback of shares worth Rs 675 crore to return surplus funds to its shareholders.
"The company on October 18 completed buyback of 75 lakhs fully paid-up shares of the face value of Rs 1 each (representing about 0.31 per cent of the total outstanding pre-buyback shares of the company) at a price of Rs 900 per share for an aggregate amount of Rs 675 crore," Sun Pharma said in a BSE filing.
In June this year, the company had announced its decision to buy back shares.
"The buyback is being undertaken by the company to return surplus funds to the equity shareholders, enhancing the overall returns to the shareholders," the company had earlier said.
source:http://www.business-standard.com/article/companies/sun-pharma-completes-rs-675-crore-share-buyback-116102100231_1.html
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