Arnold Holdings Ltd. (BSE:537069) announces a share repurchase program. Under the program, the company will repurchase up to 6,300,000 shares, representing 20.95% of its share capital for INR 132.3 million. The shares will be repurchased at INR 21 per share.

The purpose of the program is to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders, to improve return on equity by reduction in the equity base, thereby leading to long term increase in shareholders' value and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment. The program is subject to approval from the shareholders. The offer will expire on February 7, 2024.

As of December 15, 2023, the company had 30,075,000 issued shares.