SoftSol India Limited (BSE:532344) announces a share repurchase program. Under the program, the company will repurchase up to 20,58,824 shares for INR 350 million worth of its shares. The shares will be purchased at a price of INR 170 per share.

The purpose of the offer is to help the company to return surplus cash to its shareholders thereby, enhancing the overall return to shareholders; to improve company's earnings per share and return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders' value; 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 offer will be funded from company's current surplus, internal accruals and/or operating cash inflows and/or cash balances and/or free reserves (retained earnings) and/or securities premium account and/or and receivables of the company and/or other sources as permitted by the law. The buyback offer is subject to the approval of the shareholders by way of a special resolution through postal ballot and all other applicable statutory/regulatory approvals.

The company has fixed January 13, 2023, as the record date. The repurchase program is valid till March 17, 2023.