Atul Ltd (BSE:500027) announces a share repurchase program. Under the program, the company will repurchase up to INR 500 million worth of its shares. The shares will be repurchased at a price not exceeding INR 7,500 per share.

The program will be funded out of the balances of the Company in free reserves, current surplus and/or cash and cash equivalents and/or internal accruals and | or liquid resources and/or such other permissible sources of funds. The purpose of the program is to return surplus cash to the equity shareholders of the Company additionally the Company believes that the Buy-back will improve earnings per share by reduction in the equity base, thereby leading to a long-term increase in the value of shareholders. The company has fixed November 20, 2023, as record date.

The program is valid till 66 working days from November 21, 2023. As of November 3, 2023, the company had 29,513,755 shares in issue.