Motilal Oswal Financial Services announces buyback of shares

Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed buyback

FPJ Web DeskUpdated: Tuesday, May 17, 2022, 09:57 PM IST
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MOHFL has decided to use “Tender Offer” route for the acquisition of shares. / Representative image |

Motilal Oswal Financial Services has announced buyback of fully paid-up Equity Shares of face value of Re 1 each not exceeding 14.55 lakh equity shares (representing 0.98 percent of the total paid-up equity share capital of the Company as on March 31, 2022) at a price of Rs 1,100 per equity share for an aggregate amount not exceeding Rs 160 crores (excluding tax and other buyback related expenses).

The company has decided to use “Tender Offer” route for acquisition of shares. Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed buyback.

The Company has fixed May 27, 2022, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the aforesaid buyback.

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