With a market valuation of ₹2,149.94 Cr, Technocraft Industries (India) Limited is a small-cap company that engages in the industrial industry. The firm successfully established a presence in the export markets of the Middle East, USA, and Europe by producing very precise and advanced drum closures. The company has also diversified into manufacturing cotton yarn. The company has announced ₹150 Crore share buyback, at an offer size of 15,00,000 shares and at a buyback price of INR 1,000 per share. For the purpose of the same, the Board of the company has announced record date to determine the eligibility of the shareholders. The buyback price, at the current market value, is 12.99% more than the stock’s Friday closing price on the NSE.
The company has said in a stock exchange filing that “In terms of Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended, and Regulation 9(i) of the SEBI Buyback Regulations, as amended, we wish to inform you that the Buyback Committee of the Company, being duly authorised by the board of directors of the Company in this regard, has vide its resolution dated December 19, 2022…
