Board of Borosil Glass Works approves buyback of shares

At meeting held on 11 September 2015 Borosil Glass Works announced that the Board of Directors of the Company at its meeting held on 11 September 2015, unanimously approved a buyback proposal for purchase by the Company of up to 6,96,000 equity shares of Rs.10/- each  (representing 23.15% of the total equity capital), from all the shareholders of the Company on a proportionate basis through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back Regulations), 1998 (the Buyback Regulations) at a price of Rs. 2,500/- (Rupees Two Thousand Five Hundred only) per equity share, aggregating to Rs.174 crores (Rupees One seventy four crores only) in accordance with the provisions of the Companies Act, 2013 and the Buyback Regulations (the Buyback).Read more at: www.business-standard.com/article/news-cm/board-of-borosil-glass-works-approves-buyback-of-shares-115091101381_1.html