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Mphasis Rs 988cr-buyback offer to open on Dec 7

twitter-logo PTI        Last Updated: November 27, 2018  | 21:23 IST

New Delhi, Nov 27 (PTI) IT firm Mphasis Tuesday said its buyback offer for a consideration of up to Rs 988.27 crore is slated to open on December 7. The buyback offer will close on December 20, it said in a BSE filing. The last date for payment of consideration is January 1, 2019 and final date for extinguishment of equity shares bought back is set for January 8, it added. In August, Mphasis' Board had approved a proposal for buyback of equity shares from all the existing shareholders at a maximum price of Rs 1,350 per equity share. "The resultant shares to be bought back with the maximum price is 7,320,555 equity shares... The buyback offer size of Rs 9,882.75 million is 25 per cent of the total paid-up equity capital and free reserves of the company as per the audited financials as at June 30, 2018," it has said. Last year, Mphasis had completed buyback of 17.4 million shares with a total outlay of Rs 11.03 billion. PTI SR SHW MKJ

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