Rs 14,99,99,936 Buyback: Company is commencing the buyback on Monday, August 21; Make sure to check it out before you miss the opportunity!

The company has set the buyback price at Rs 94 per share

In line with its commitment to enhancing shareholder value, CL Educate Limited has taken a strategic step towards repurchasing its own fully paid-up equity shares. Following the recent meeting of the Board of Directors, where the proposal was approved, the Company is set to embark on a buyback journey aimed at boosting investor confidence and optimizing capital structure.

The buyback initiative, estimated to aggregate up to Rs 15 crores (Rupees Fifteen crores only), comes with a maximum buyback price of Rs 94 (Rupees Ninety-Four only) per equity share.

At this price point, the indicative maximum number of equity shares that could be repurchased stands at 15,95,744 (Fifteen Lacs Ninety-Five Thousand Seven Hundred Forty-Four) Equity Shares, as specified in the correspondence.

In accordance with the disclosure made in the Public Announcement on August 04, 2023, the Company has slated Monday, August 21, 2023, as the commencement date for the buyback process. The initiative is set to conclude on either November 28, 2023 or when the Company completes the buyback, subject to certain conditions.

The Company is committed to a minimum buyback size of Rs 11.25 crores (Rupees Eleven crores Twenty-Five Lacs only), which translates to at least 75 per cent of the earmarked amount for the buyback.

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Moreover, adhering to regulatory stipulations, a minimum of 40 per cent of the amount set aside for the buyback, equivalent to Rs 6 crores (Rupees Six crores Only), will be utilized within the initial half of the stipulated buyback period.

This strategic move underlines the Company's dedication to enhancing shareholder value and optimizing its capital structure, all while remaining compliant with regulatory requirements. It's an indicative step that showcases the Company's confidence in its financial position and prospects, instilling further faith in its investors and stakeholders alike.

Disclaimer: This article is for informational purposes only and not investment advice.