New Delhi: Local search engine Justdial said it will spend up to Rs 164.5 crore in buying back shares from shareholders at a price of Rs 1,550 per equity share.
It added that the buyback will be undertaken on a proportionate basis from the shareholders as of December 4 through a tender offer.
“The buyback is being undertaken by the company to return surplus funds to its shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans”, it said.
