Rs 107,99,94,500 Buy back announced by this company, stock generated a multibagger return of 1300 per cent, do not miss the opportunity!

Impressively, the stock has generated a return of 274 per cent in the past three years

Siyaram Silk Mills Limited has taken a significant stride in its financial strategy, with the Board of Directors approving a buy-back plan for 16,61,530 equity shares.

This move, valued at Rs 107,99,94,500 and priced at Rs 650 per share, corresponds to 3.54 per cent of the company's total shares.

The decision adheres to the guidelines of the Securities and Exchange Board of India, specifically the "Tender Offer" protocol under the Buy-Back of Securities regulations.

Notably, the buy-back amount constitutes 9.48 per cent of the equity share capital and 9.50 per cent of the free reserves, excluding related expenses like taxes and fees.

This strategic step underscores Siyaram's commitment to enhancing shareholder value and its robust financial standing, supported by the audited financial statements for the period ending March 31, 2023.

The company has set September 18, 2023, as the record date for this buy back.

Also, Check: This Company announced a bonus share for its investor in the ratio of 1:4.

As of Friday's close, the company's shares were closed at Rs. 551.90 on the BSE. The current market capitalization stands at Rs. 2587 crore.

Impressively, the stock has yielded a 274 percent return in the past three years. Moreover, the stock has delivered an astounding 1340 per cent return to investors over the past ten years.

Investors must keep this stock on their radar.

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