Aarti Drugs Limited (BSE:524348) announces a share repurchase program. Under the program, the company will repurchase up to 665,000 shares, representing 0.72% of its issued shares for INR 598.5 million. The shares will be repurchased at a price of INR 900 per share.

The purpose of the buyback is to increase equity shareholders value, return surplus cash to its shareholders and improve return on equity. The funds for the implementation of the proposed Buyback will be sourced out of the free reserves of the Company or such other source as may be permitted by the Buyback Regulations or the Companies Act. The company has fixed August 4, 2023, as the record date.

The repurchase plan will expire on August 17, 2023. As of July 14, 2023, the company had 92,600,000 shares in issue.