Sportking India Limited (BSE:539221) announces a share repurchase program. Under the offer, the company will repurchase up to 580,000 shares, representing 4.37% of its issued share capital for INR 551 million. The shares will be repurchased at a price not more than INR 950 per share.

The offer will be funded out of company's free reserves and/or the securities premium account and/or internal accruals and/or current balances of cash and cash equivalents and/or such other sources as may be permitted by the law. The purpose of the offer is to return surplus funds to the shareholders, to improve return on equity and other financial ratios, thereby leading to long term increase in shareholder's 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 record date is fixed at February 10, 2023.

The offer is valid till March 29, 2023. As of January 27, 2023, the company had 13,287,200 shares outstanding.