Cochin Shipyard, the state-run ship building company on November 28 will open its buyback offer to purchase shares worth Rs. 200 crore. The company's board approved the buyback last month in October.
"The board approved the buyback proposal for purchase of fully paid equity shares of Rs 10 each not exceeding 43,95,610 equity shares at a price of Rs 455 per share," Cochin Shipyard had said.
The buyback offer will close on December 11.
Edelweiss Financial Services Ltd is the manager to the buyback offer.
In a regulatory filing, the company informed about buying as many as 43.95 lakh equity shares that constitute 3.23% stake in the company.