Dalmia Bharat Limited (NSEI:DALBHARAT) announces a share repurchase program. Under the program, the company will repurchase up to INR 5,000 million worth of its common stock. The shares will be repurchased at a price of INR 700 per share. The share repurchases will be funded with cash. As of March 19, 2020, the company had 192,658,553 shares are issued and outstanding. The purpose of the program is to return surplus cash to the shareholders, improve return on equity thereby leading to long term increase in the shareholder's value, provide an option to the shareholders to either participate in the buyback and receive cash in lieu of their shares or not participate and enjoy a resultant increase in their percentage shareholding, without any additional investment. The program will be funded from the company's free reserves and/or internal accruals and/or other sources as permitted by the law. The program will expire on the earlier of October 1, 2020, or when the company completes the buyback by deploying the maximum buyback size, or at such earlier date as may be determined by the Board after giving notice of such closure, subject to the company having deployed the minimum buyback size and after all the payment obligations for the program have been completed before the last date of the program.