The board of AIA Engineering had granted approval for a buyback of 1000000 equity shares, with a combined value of up to Rs. 500 crores, priced at Rs. 5000 per share. The process, timelines and other requisite details of the Buyback will be set out in the public announcement and the letter of offer will be issued after two working days of the record date which is 20 August 2024.
The detailed announcement by the company can be found here.
Note that, in accordance with Regulation 5 (via) of the Buyback Regulations, AIA Engineering may (till one working day prior to the record date) increase the maximum Buyback price and decrease the number of securities proposed for buyback such that there is no change in the Buyback size.
You can participate in the buyback if you have holdings of AIA Engineering as on the record date which is 20 August 2024. In case you are not an existing shareholder and still want to participate in the buyback, make sure to purchase the shares of AIA Engineering before 20 August 2024 to be eligible for buyback.
The timelines and schedule of the buyback will be announced by AIA Engineering in the letter of offer, which is published usually two business days after the record date. Stay tuned! we will be sharing the updates on this thread.
What do you think about this Buyback? Feel free to use this thread to discuss.