Goldiam International Limited (BSE:526729) announces a share repurchase program. Under the program, the company will repurchase up to 2,179,493 shares, representing 2% for INR 326.92 million. The shares will be repurchased at a price of INR 150 per share.

The program will be funded out of its free reserves. The purpose of the offer is to return surplus funds to the shareholders thereby enhancing the overall return to the shareholders, to improve financial ratios like return on equity and earnings per share 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 of shareholders by means of a special resolution through a postal ballot.

The company has fixed July 21, 2023, as the record date for the offer. The program is valid till August 2, 2023. As of May 12, 2023, the company had 108,974,615 shares in issue.