Cheviot Company Limited (BSE:526817) announces a share repurchase program. Under the offer, the company will repurchase up to 175,000 shares, representing 2.91% of the total paid up share capital of the company for INR 315 million. The maximum price paid by the shareholders would not exceed INR 1,800 per share.

The purpose of repurchase program is to enhancing the overall shareholders? value and improving the return on equity. The program will be financed via free reserves of the company.

The company has fixed June 14, 2024, as the record date for the offer. The offer will close on June 26, 2024. As of May 24, 2024, the company has 6,016,875 shares issued and outstanding.