Nucleus Software program “proposes to buy-back as much as 22,67,400 fairness shares of Rs 10 every.”
New Delhi: Nucleus Software program Exports has introduced a buyback supply of round Rs 159 crore on Friday. The corporate in a notification to exchanges mentioned, “The Board of Administrators on September 24 accredited the proposal for buyback of its shares from the fairness shareholders on a proportionate foundation by means of the tender supply route.”
Underneath the supply, Nucleus Software program “proposes to buy-back as much as 22,67,400 fairness shares of Rs 10 every, comprising of seven.81% of the whole paid-up fairness capital of the corporate, from the fairness shareholders of the corporate, at a value of Rs 700 per fairness share, for an mixture quantity not exceeding Rs 1,58,71,80,000.”
It additionally mentioned, “The utmost buyback dimension represents 24.90% and 24.01% of the combination of the whole paid up fairness capital and free reserves based mostly on the audited standalone and consolidated monetary statements, respectively, for final monetary 12 months ended on March 31, 2021.”
The target of a share buyback programme is to arrest the autumn within the worth of a inventory by decreasing the availability of the inventory.
Nucleus Software program is main supplier of lending and transaction banking options to the worldwide monetary companies. In June quarter of 2021-22 (Q1 FY22), the corporate had posted 83% year-on-year (YoY) and 78% quarter-on-quarter (QoQ) drop in its consolidated web revenue at Rs 6 crore.
The corporate’s shares closed 2.80% increased at Rs 609 on BSE.
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