Cosmo First announces Rs 108-crore buyback offer

New Delhi: Packaging options supplier Cosmo First on Thursday introduced a Rs 108-crore buyback of its shares from present shareholders. The corporate will purchase again 10.09 lakh shares having a face worth of Rs 10 every representing 3.70 per cent of the whole paid-up fairness share capital of the corporate as of March 31, 2022.

It has mounted Rs 1,070 per fairness share because the ‘Purchase Again Provide Worth’, stated a regulatory submitting from Cosmo First.

The board of the corporate in its assembly held on Thursday accepted the “buyback of absolutely paid up fairness shares of the face worth of Rs 10 every not exceeding 10.09 lakh fairness shares at a worth of Rs 1070/-per fairness share payable in money for an combination most quantity not exceeding Rs 108 crore.”

The Board mounted December 14, 2022 because the report date to determine the eligibility of the shareholders for the buyback, it added.
Commenting on the event, Chairman & Managing Director Ashok Jaipuria stated: “The buyback displays sturdy cashflows and administration’s confidence in continued progress prospects in all its enterprise verticals. The buyback will result in additional improved EPS, ROE and ROCE”.