James Warren Tea Limited (BSE:538564) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 15.91% for INR 175 million. The shares will be repurchased at a price of INR 250 per share.

The buyback may be made out of the company's free reserves or such other sources as may be permitted by law through "Tender Offer" route. The buyback will help the company to optimize returns to shareholders, enhance overall shareholders value and optimizes the capital structure. The shares repurchased will be funded from free reserves of the company.

The buyback is subject to approval of members of the company by way of special resolution through postal ballot. The company has fixed July 18, 2023, as the record date for the offer. The offer will be valid for 12 months from the date of passing of special resolution.

As of March 31, 2023, the company had 4,400,000 shares in outstanding.