Prime Securities Limited (BSE:500337) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 1.79% of its issued share capital for INR 183 million. The shares will be repurchased at a price of INR 305 per share.
The purpose of repurchase program is to optimizing returns to the shareholders and enhancing the overall shareholders? value in longer term and improving the return on equity. The repurchases will be funded from Company's current surplus or cash available from internal resources.
The buyback is subject to approval of the members of the company by means of a special resolution. As of January 24, 2025, the company had 33,612,825 shares issued and outstanding.
