Birlasoft share buyback: The board of directors of Birlasoft Ltd has fixed 15th July 2022 as record date for buyback of shares. In June 2022, the IT company had announced Birlasoft share buyback at ₹500 per equity share price. The company had announced 7,800,000 fully paid equity shares of Birlasoft not exceeding ₹390 crore and the buyback was offered through tender route.
Informing Indian bourses about the record date for share buyback, Birlasoft Ltd said, “This is in continuation to the intimations made by Birlasoft Limited (“Company”), regarding approval of the Board of Directors and of the members of the Company for buyback of up to 7,800,000 fully paid equity shares of Rs. 2/- each of the Company, vide letters dated May 23, 2022 and July 1, 2022,” adding, “Pursuant to the Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 9(i) of Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, we wish to inform you that the Company has fixed Friday, July 15, 2022 as the Record Date for the purpose of determining the entitlement and names of equity shareholders who are eligible to participate in the buyback.”
Here we list out top 5 things other than record date that Birlasoft shareholders should know:
1] Birlasoft share buyback price: The board of directors of the IT company has announced share buyback at a price of ₹500 per equity share.
2] Share buyback size: Birlasoft has informed Indian exchanges that share buyback won’t exceed ₹390 crore or up to 7,800,000 fully paid-up capital of the company.
3] Buyback route: The board of directors of Birlasoft has also made it clear that buyback would be executed through tender route.
4] Acceptance ratio: According to market experts, Birlasoft share price today is around ₹355 whereas the buyback price announced is ₹500 per share. They said that due to heavy beating of the IT stock in recent sell-off, this buyback may have a higher acceptance ratio as its 52-week high is ₹585 per share.
5] Birlasoft Q4 earnings: In Q4FY22 results, Birlasoft Ltd. reported rise in its consolidated net profit (QoQ) by 17 per cent and 3 per cent rise in revenue (QoQ). However, the IT company reported 35 per cent YoY rise in revenue. It has reported 7 per cent rise in EBIDTA on QoQ basis and 15 per cent rise in EBIDTA on YoY basis.