Two-wheeler major Bajaj Auto's share buyback worth Rs 5,633 crore opened on Wednesday, as the company plans to buy back 46.94 lakh shares at Rs 12,000 per share, which is around 24% higher than the previous closing price.
Bajaj Auto's buyback will remain open from July 1 to July 7 during which the company aims to buy back up to 1.68% of the total paid-up share capital. The record date for the buyback was fixed on June 24, which means that only those shareholders who owned shares of the company on that day would be eligible to tender shares in the offer, and investors taking fresh positions today will not qualify.
