Zydus Lifesciences has revised the terms of its proposed share buyback by increasing the repurchase price while reducing the number of shares to be bought back under the offer. The company on Wednesday said its Buyback Committee, at a meeting held today, approved an increase in the buyback price to Rs 1,260 per equity share from the earlier announced Rs 1,150 per share.
Simultaneously, the drugmaker reduced the maximum number of shares proposed to be repurchased to 87.3 lakh equity shares from 95.65 lakh shares announced earlier. The revised buyback size represents up to 0.87% of the company’s paid-up equity share capital.
